Singapore's Tiger Economy and Global Economic Challenges

His Excellency Ashok Kumar Mirpuri, Ambassador of the Republic of Singapore to the United States. Introduced by Marshall M. Bouton.

The Singapore Model of export-led growth has been looked to as a case study for successful economic development and emulation in emerging markets. Having weathered the 1997 Asian financial crisis and the 2008 global financial crisis, Singapore has demonstrated resilience; but is now faced with declining exports due to the weakness of Western economies and the slowdown in China. In addition, the IMF has recently reduced the forecast for economic growth in Asia and projections for global expansion, saying it sees an “alarmingly high” risk of a slowdown. The Singaporean government has since focused on overseas investments, the financial sector, and positioning itself as a regional hub to drive growth and to avoid austerity measures. How might Singapore adapt to these changing global realities as it navigates a phase of global economic uncertainty?

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