How is Singapore Navigating the New Industrial Revolution?Add Answer
The economy is highly dependent on exports if refined imported goods,especially in production.The manufacturing industry accounted for 26 % of Singapore's GDP (2005)
The manufacturing industry is well diversified intro electronics,oil refining,chemicals , mechanical enineering and biomedical science products . In 2006 Singapore produced about 10 percent of the world's electronic chip production.Singapore is the largest port in the world in terms of tonnage transported.
Singapore has been rated as the lightest business environment in the world,with thousands of foreign expatriates working in multi national corporations.The city-state also offers jobs in industry for tens of thousands of foreigners around the world
First, let’s get this off the hook: Singapore isn’t navigating the new Industrial Revolution. A country with a GDP growth of 3.6 percent (in 2017) and a population of less than 6 million – excuse my political incorrectness – cannot possibly navigate the global industrial ecosystem that’s dominated by China, USA, and the UK.