Question

In your opinion, which Asian nation has had the greatest success in meeting its peoples’ needs since World War II? Justify your answer with specific details

Answer 1

From the CIA factbook - https://www.cia.gov/library/publications...

Economy - overview:

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

GDP (purchasing power parity):
$331.9 billion (2012 est.), Per capita $61,046
Country comparison to the world: 41

Compare to Japan: Per capita GDP $36,266

Answer 2

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