China Worker, 23 Apr 2009, Raviechandren - CWI Malaysia
Singapore was once regarded as a ‘Tiger economy’ along with other countries in Asia when referring to its robust and unperturbed economic growth. Its economic success, with a per capita income of over US$24,000, was attributed to its free market capitalism, with about three-quarters of its income coming from external trade and investments.
The PAP (People Action Party), which has ruled Singapore since it became a nation state in 1965, has developed this tiny country to be a favourable business island for the free market, by imposing some measure of state capitalism. This was accompanied by its pro-business policies and neo-liberalism which has subjugated workers’ rights and independent trades union, as well as other fundamental democratic rights.
Read More
