China's fascination with the development of Singapore

Abstract

Singapore has achieved rapid economic growth and has also managed to maintain a stable social order, characteristics that make it attractive to China as a model for future development, according to Professor John Wong, Research Director of the East Asian Institute (EAI), National University of Singapore. The Singapore government has played a vital role in fostering economic development, and while it has eschewed mandatory economic planning in favor of support for free enterprise and open competition, it has nevertheless been very active in providing macro economic guidance for the economy, and in managing a number of economic and business activities. The success of the government's participation in economic development has been made possible by a strong political leadership dedicated to the pursuit of economic growth, an efficient and incorruptible public administration, and an effective legal system. An earlier version of this paper was presented at the International Symposium on the Government's Role in the Market Economy, held at the China Institute for Reform and Development (CIRD), Haikou, Hainan, China, in January 1997.