Fifty years ago, the Republic of Singapore gained independence as a nation after it was expelled from Malaysia. Since then, Singapore has marched ahead with its own rapid economic growth policy and the result has been impressive. Today Singapore is a highly developed country and the world’s fourth leading financial center. The country has the world’s highest percentage of millionaires, with one out of six households has at least $1 million in disposable wealth.
Along the way, Singapore was derisively referred as ‘the little red dot’ by then former President of Indonesia B.J. Habibie. The term was quickly adopted by both Singaporean politicians and citizens with pride as Singaporeans are proud of their economic success despite the country’s small size.
Happy birthday Singapore and congratulations on your laudable economic achievements!
