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Abstract
<p><em>The research investigates the Singapore model and mainland China model in terms of its’ GDP development. It covers ideologies, methods and reasons for government interventions, the roles of state-owned businesses and the issues of labor in accordance to the different stages of GDP development. The interventions from the governments that caused the market to rebound and resilience are found in two countries. The article also redefines the developmental state as unlimited methods and ideologies under a government-led economic development economy. </em></p>
Highlights
Singapore was originally a place with limited resources and a small island with poor soil
We find out what are the necessary factors in the process of economic development compared to the ideology of free economy
Growth target in different stages. What are their similarities? 2) What are the similarities in the business model of Singapore and mainland China’s state owned enterprises? Are there similarities in their contribution to GDP growth? 3) What efforts did both governments make in order to receive these skills that achieve economic growth? 4) A dominant political party and powerful leader in the long-term have what kind of effect on the economy? What are the similarities between both countries on this? Discover what economic impact, especially on GDP, that both countries have through government intervention
Summary
Singapore was originally a place with limited resources and a small island with poor soil. Several stages of economic reform took place, being a dominant political party, leaders are being followed without questioned, and controlled government information seems to have never changed. Some Singaporean scholars oppose the point of view with literature, that Singapore is not a country dictated by a dominant political party as written in “The Real Singapore Model (2015)” of Min Xin Pei. In 2016, the City University of Hong Kong conducted a research conference known as “The Singapore Model and Its Influence to discover the effects of Singapore’s political model on mainland China”. This article shall discuss the matter from the questions stated as follow: 1) Singapore and PRC have its own political ideology to evolve and achieve GDP growth target in different stages. What are their similarities? 2) What are the similarities in the business model of Singapore and mainland China’s state owned enterprises? Are there similarities in their contribution to GDP growth? 3) What efforts did both governments make in order to receive these skills that achieve economic growth? 4) A dominant political party and powerful leader in the long-term have what kind of effect on the economy? What are the similarities between both countries on this? Discover what economic impact, especially on GDP, that both countries have through government intervention
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