Singapore

josh barkiewicz 1st hour

Overall score / World ranking

89.4 / 2
Big image

Speed facts

  • Population - 5.4 million
  • GDP - $348.7 billion
  • GDP% - 4.1% growth
  • GDP per capital - $64,584
  • Unemployment - 3.1%
  • Inflation - 2.4%
  • Foreign Direct Investment - $63.8 billion

summary

this video above is about the economic progress in Singapore over time.

7 Major Sources of Economic Progress

legal system

property rights is the case in this economic law and in Singapore they are as free to have property rights just like the United States and better this year.

Competitive Markets

Singapore's business freedom is at the top of the list even passing the United States. this shows that economic progress is good.

Limits on Government Regulation

Singapore is free in government freedom setting government spending low so people get more choices to do what they want with their money.

An Efficient Capital Market

fiscal freedom in Singapore is again higher in freedom than the united states. this leaves room for error but is kept in check so marketing is safe to do.

Monetary Stability

Singapore is free in their economic progress. In their monetary freedom they are doing better than the United states showing economic progress.

Low Tax Rates

Singapore has low government freedom making them again higher in freedom with low tax rates.

Free Trade

Singapore is located right on the water. this makes trade easy to accomplish there. Singapore's economic progress is increasing and their trade freedom is better than the United states