01 02
Origins of Socialism Core Principles of
Response to poor working
conditions during the Industrial
Revolution
Emphasis on communal
ownership of resources and
equality among individuals
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4 / Economic Transformations and Development Strategies
Industrialization and Economic Growth in Singapore
01
Singapore's Economic
Transformation
Emerged from a tropical
backwater to one of Asia's
wealthiest nations in less than
30 years.
Rapid industrialization and high
growth rates exceeding 7%
annually from the early 1960s to
the 1990s.
Known for opium dens and
racial tension in the 1960s,
transformed into a hub of high-
tech industries and modern
lifestyles.
6 / Economic Transformations and Development Strategies
Strategies for Economic Development in Singapore
01
Foundations of Singapore's
Economic Growth
Establishment of a favorable
investment climate
Strategic location of Singapore near
the coast
Strong leadership of Lee Kuan Yew in
implementing economic policies
Focus on labor-intensive and export-
:
03
Historical Influences
Socialism
State ownership of major
means of production
Creation of classless societies
Promotion of equal
opportunities for all individuals
Lessons from Economic Transformations
Addressing Aging Population and Labor Shortage
Encouraging childbirth
Raising wages
Economic Stimulus During Stagnation
Issuing new debts
Implementing stimulus packages
Reinforcing Workforce
Promoting immigration
Easing population crisis
Countering Geopolitical Threats
Upgrading the military
Addressing North Korea challenge
Industrial Growth
5 / Economic Transformations and Development Strategies
02
Factors Contributing to
Industrialization in
Singapore
Establishment of a favorable
investment climate.
Strategic location near the
coast, facilitating trade and
connectivity.
British naval base establishment
post-World War I, leading to the
production of essential
weaponry.
Strong leadership under figures
like Lee Kuan Yew, who
implemented wage increases
and reduced labor strikes.
02
Technological and Educational
Advancements
Encouragement of technological
education and skills development
Promotion of research and
dissemination of technical knowledge
Creation of a conducive environment
for business and foreign investment
04 05
Goals of Socialism Beliefs of Socialists
Thinkers like Karl Marx Eliminate the gap between rich
and poor
Events like the Russian
Revolution in 1917 Focus on social welfare
considerations
Government-led production
and distribution decisions
03 04
Key Industries Driving Strategies for Economic
Singapore's Development Development in
Singapore
Electronics industry. Deepening international
connections to promote trade
Oil drilling equipment. and investment.
Food processing and Promoting startup businesses
beverages. through educational initiatives.
Chemicals and petroleum Developing strong digital
refining. capabilities for technological
advancement.
Shipbuilding.
Creating a vibrant and
connected city of opportunities
through infrastructure
development.
Implementing industrial
transformations for coherent
economic strategies.
03
International and Digital
Strategies
Deepening and diversifying
international connections
Developing digital capabilities for
technological advancement
Implementing industrial
transformations for coherent
strategies
State control of production and
distribution
Fair allocation of resources for
the benefit of all
Regenerate
05
Lessons for Uganda's
Economic Development
Encouraging private
investment.
Emphasizing research and
innovation.
Investing in industrial
development.
Promoting science and
technology.
Encouraging foreign investment
in key sectors like oil and gas.
04
Partnerships and Infrastructure
Development
Forming partnerships with developed
nations for growth and innovation
Encouraging startup businesses
through education and skills
development
Developing infrastructure to facilitate
movement of people and cargo