Economic Growth Of Singapore Case Study

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Very quickly after Singapore’s foundation by Sir Stamford Raffles in 1819, she experienced rapid growth during her first century under British government. Various economic and political factors largely-free trade and capital flows, a common currency with neighboring British territories, free inflow of migrant labor, regional and international treaties-played a crucial part to accelerate her growth.
I shall outline the economic and political factors separately and will explain how those factors defined the growth of Singapore.
Economic Factors:
 Successful Entrepot:
A well protected natural harbor, a link connected the different market of India, China, Japan and Java, contributed a lot to attract lion share of British trade with the region.
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In facilitating the Johor Treaty of 1855, the British colonial government not only sought to put the longstanding dispute to rest, but also to curb the meddling in native politics by commercial interests in Singapore. More importantly, the British sought to predict major hostility between the Malay states, which would not only disrupt trade and encourage piracy, but also affect the economic position of Singapore.
 Attaining Crown Colony Status:
On 1 April 1867, the Straits Settlements, which comprised Singapore, Malacca and Penang, became a crown colony under direct British control. After becoming crown colony Singapore managed to reduce the deficiencies in the Straits Settlements administration- receiving orders directly from the Colonial Office rather than from India. Piracy, port duties, currency, the transportation of convicts, as well as delays in judicial reforms was the critical issues that Singapore managed well once she came under the status of crown colony. And that dynamics made Singapore as a center of government, commerce and policy making.
 Pangkor
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Intense rivalries within and between secret societies, and the virtually unchecked influence of the secret societies contributed to a state of disorder with clashes amounting to public riots in the Straits Settlements between 1845 and 1885. Under these circumstances, on 01 Jan 1890, the Societies Ordinance was enacted with the aim of eliminating Chinese secret societies in the Straits Settlements. The enactment of the ordinance marked an important milestone in the relations between the British colonial government and the societies and that accelerate Singapore’s growth by minimizing social

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