In the event, subsequent to Krugman's forecast, Singapore's growth rate averaged 6.4% from 1996 to 2000; then, under the influence of a world slowdown, the economy barely grew for the next three years. It then posted increases of 8.3% in 2004, 6.4% in 2005, 7.9% in 2006 and the same in 2007, before once again declining to no net gain under the influence of the global financial crisis in 2008. Full story
OPINION: Singapore shows its strengths - Robert M Cutler
Asia Times Online, 13 Aug 2010
Foreign direct investment (FDI) in fact accounted for 70-90% of total investment in the city-state from 2006 through 2009. Singapore's economic growth is thus highly sensitive to variations in FDI, yet the economy increased about 5% in 2009 despite the global financial crisis.
In the event, subsequent to Krugman's forecast, Singapore's growth rate averaged 6.4% from 1996 to 2000; then, under the influence of a world slowdown, the economy barely grew for the next three years. It then posted increases of 8.3% in 2004, 6.4% in 2005, 7.9% in 2006 and the same in 2007, before once again declining to no net gain under the influence of the global financial crisis in 2008. Full story
In the event, subsequent to Krugman's forecast, Singapore's growth rate averaged 6.4% from 1996 to 2000; then, under the influence of a world slowdown, the economy barely grew for the next three years. It then posted increases of 8.3% in 2004, 6.4% in 2005, 7.9% in 2006 and the same in 2007, before once again declining to no net gain under the influence of the global financial crisis in 2008. Full story
