Singapore's Economic Success | How did Singapore transform its economy | Ayushi Chand

On this video, we discuss the critical factors that helped in transforming Singapore into the developed economy that we see today.
We discuss the 3 P's: Place, People and Policies and how they were effected into transforming the nation to one of the richest countries in the world.
We also discuss steps taken by the government to ensure economic, political and social progress of the country.
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Ayushi Chand is an Indian Economic Service (IES) officer, working with the Central Government of India (Ministry of Finance). She has over 7 years of work experience in the fields of finance, economics and public policy.
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[@akshay.pawar.]

Singapore politicians &policy makers are highly educated & motivated That's why the evolving industry like blockchain's start-ups are based in Singapore. E.g. vauld The better clarity about governance there is , the better eco system it creates.

[@thatguy6442]

Yes, I see many Blockchain startups are based in Singapore. Few I know are Flint and Builders Tride. Even our Akshat is in Singapore (As mentioned in his Twitter Profile) :)

[@laxmanmudaliar979]

Removing the corruption was key to growth

[@franciscody9622]

Correct. But Lee Kuan Yew "grew" the wrong thing. He wasted 5 decades because he used the wrong KPI.

[@rockingrohan3]

I am just a average IT employ came here out of intrest and wow great insight into economics in such short video 👍

[@bistrajendra1]

The role of long-term political stability and agile policy decision making cannot be ignored.

[@powerofbooks176]

Aapke jese officer ho to India bhi a model country bn jayegaa....... Really heartful thank officer

[@MelvinSimKH]

One other effect of maintaining links with the UK upon independence also signalled that Singapore was not hostile to the west. There was no tearing down of colonial statues, renaming of roads, denouncing the west, etc, as there were in newly independent former colonies. Looking at the quick-growing economies in Asia then: 1. Japan was occupied and was close to the USA 2. South Korea was likewise close to the USA during and in the wake of the Korean War 3. Taiwan also maintained close links to the USA as well 4. Hong Kong was a British colony 5. Singapore as mentioned above. Having close or not severing links to the west was a factor in these countries’ growth and development.

[@NewmaticKe]

Not blaming the colonialist for all the current problems is a good start

[@guojing88]

Nice, watching this video as a Singaporean nearing his 50s, made me proud of how well we developed.

[@franciscody9622]

You like "concrete on the ground" (infrastructure) instead of 1st World standard of living. I feel sorry for you. You are suffering from Stockholm Syndrome.

[@PS-gc7to]

Need more case study like this. #awesome

[@susantasahoo6466]

Thank you ma'am for bringing more case study . Totally, I fall in love with your content .

[@sp6363]

Hi Ayshi, you have hit exactly on all the aspects of Singapore Story! well done. Wish you go great heights in India Civil Service.

[@ayushmadhepuram385]

Absolutely Love your content Ma'am...You're not far behind Akshat Sir in terms of quality and presentation of the content :)

[@ramit7]

thank you for this case study :)

[@goldy4008]

I like your videos Ayushi. It’s very informative! Keep up it.👍

[@sumedhrbhat]

Wow Ayushi Didi, this video was insightful. I think diversity in Singapore's population is one of the key factors for the country's success. One of the main reasons for the high cost of living is due to the fact that Singapore is not a producer economy, it "mostly" relies on importing. But considering the "50 year plan", the country's economy might transition into something that is great and standard (affordable) at the same time.

[@jacktran7024]

It's the people and culture that drive success!

[@NewmaticKe]

Impressive presentation 👍

[@VikramSingh-ps2nx]

Much informative ma'am

[@laxmanmudaliar979]

Very good ayushi nice information

[@chakkanagaraju3688]

Good explanation madam. Singapore shows the world that a country could develop with out any natural resources and with the help of skilled people. India also need to focus on improvement of skilled population. If the people are skilled the dependency on Govt skills will be minimised and will become taxpayers by increasing their earning ability. Govt also can spend more amount of money on development activities. Unfortunately our policies are ignoring these aspects.

[@PankajKumar-ot3mg]

mam make video on indian economic service ,career progression , opportunity etc

[@pratikkshirsagar8478]

Impressive presentation Ma'm. Ma'm..can you plz suggest whether doing chartered economist (CE) course is a better idea for MA economics graduate?

[@max-uc5do]

more than other countries we would like to know more about India can you please make more videos related to India

[@CALEBBYPRODUCTIONS]

there's politics too! The govt was still open to china even when most of the democracies in south east asia and the rest of the world were keeping an arms length from communist china. But nevertheless this video is very detailed in every other parts! Thanks for posting!

[@satyamnayak22]

Amazing insights of singapore.India shd take lessons from it.

[@benganchan1420]

However , the singapore playbook on anti corruption is not replicated in areas outside singapore

[@rishabhpandey2111]

Mam what is the background what discussions or brain storm it takes before introducing any new scheme. If possible please tell us about it.

[@manmohantiwari7505]

as you have visited Singapore as official visit you must have sense of skills which are being taught to their citizens for great income or future building and sustainable life . so please suggest us broad or brief skills which are being taught there . and what should we read if we are in our 20s . for great career in finance or digital technology or persuassion

[@williamwong5627]

A+.

[@rainmanben]

Perhaps the approach to Singapore economic growth is not the land mass, resources etc etc... Maybe on the planning and foresight of the government and the aligitiry of the polices

[@sanyamdhingra3062]

Really short crisp and good way to explain this remarkable success story 👍🏻

[@whatsappme2993]

⬆️Thanks for the comments. Much appreciated 👍 feel free to message me directly. Text for questions, crypto investment guide and tip....⬆️⬆️

[@tomimathew3628]

Would you be able to name one scientist from Singapore?

[@sinlim2915]

right after chinese new year is over, so many businesses, shops closed down, sold away, and so instantly disappear ! ... i cant reecognise the same neighbourhood, shopping malls, roads, more old shops , businessesses were only able to be 'see' in my dreams now

[@5414vivek]

I think media and free press restriction is also a major problem in Singapore .

[@ronaldhee6608]

Great job! Slight error at the beginning. You can drive across the country in LESS than an hour. :) That's assuming normal traffic. If say at 2am in the morning, you might speed across in barely 30 minutes! Assuming a friendly policeman didn't say hello ... :)

[@ByteGeniusHub]

❤️

[@Devanshcool3010]

Mam. Which exam you cleared to get such a cushy govt. Job... UPSC...?

[@JG-qy6fe]

In addition to economic planning, its City ,Urban & neighbourhood Planning was and is a key method to make it an attractive, green and easy place to work-live- play. Architects & their building design ideas are much valued and encouraged. Architects like Liu Thai Ker and Ong Teng Cheong were key advisors in the Nation- building aspects. Indian Cities can definitely take a cue from this.

[@sooriyabalan9856]

Ms.Ayushi, please do the case study of UAE

[@kim2hawaii1]

UAE is a mirage...get closer and the niceties disappear. I lived there for 3 years and its not what it seems ......this happens every morning before dawn kzbin.info/www/bejne/qaquaKiVhrZ-oZo The condo where I live had sewer pipes connected to fresh water pipes !

[@firdausbj1]

Pros: Enjoyed your content. Cons:Needs B rolls and background music so that its more enjoyable for teenagers.

[@TheMsnitish]

Just discovered that Akshat is your husband. I think many are curious about how you met him.

[@franciscody9622]

Singapore has First World infrastructure but it does not have a First World workforce because the country did not invest enough in its only real assets - Singaporeans. It limited to a small minority of each cohort that can go to local universities. It pick-the-winner" policy failed. Neptune Orient Lines and Chartered Semiconductor Manufacturing are good examples. Government scholars ran both and failed and had to be sold to foreign companies. Singapore does not have global brands like Korea (Samsung, Hyundai, etc) or Taiwan (TSMC, Asus, MSI, Acer, etc.).

[@techpal8082]

Black money, tax haven and govt investment in other countries for high rate of return by offering some thing to local politicians.

[@rameshgoyal9494]

Tell me Madam, our India has more sources than Singapore, then why is India not progressing so much?

[@AL-ip3vk]

During LKY's rule, gangsters were jailed without trial so as to curb riots in those days. I disagree regarding clothes, there are many places where one can buy cheap clothes in Singapore.

[@cheontham3265]

Cheap clothes made with polyester fabric or other plastic material are not suitable for hot weather countries

[@weilk7420]

India very smart signed the CECA agreement with SG. Now so many Indians go SG to work as a stepping stone to go to the west.

[@cheontham3265]

Do they get better or more $ $ going to the west or other more critical factors

[@franciscody9622]

GDP is the wrong economic KPI. Lee Kuan Yew pursued it instead of real wages and productivity - these determine the standard of living. That is why Singapore is NOT a real First World country. It is also notva democracy. Singapore has First World per capita GDP and, sadly, also First World COST OF LIVING with stagnant wages. Singapore is one of the most expensive place to live in. Singapore never achieved the Swiss Standard of Living promised by Lee Kuan Yew's political party. Singapore needs REGIME CHANGE.

[@benganchan1420]

The country is run like a company. If you disagree with the CEO, you can join another company like australia, new zealand . The go-getters put their money where their mouth is and have succesfully run enterprises in china, india,america etc