Wednesday, March 31, 2010

Background Facts About Singapore

The Republic of Singapore consists of an island off the tip of Malaysia. It attracted British and Dutch interest due to the spice trade and later became a British colony. Midway through the 20th Century, Singapore gained full internal government. It has since become a booming tourism center as well as a advantageous trading point for various foreign interests.Unlike in the United States, where 5% of the population lives below the poverty line, people in developing countries have a much higher percentage of their population below the poverty line.

People in Singapore, however, are not subject to the same statistic. Singapore has nearly eliminated poverty within its borders, as have a few other Southeast Asian nations. The majority of these nations have been under an authoritarian rule, Singapore being the exception with its parliamentary republic style of government.

This government has enacted strict laws which, when broken, are followed by severe punishment. It is these laws which have divided many Singaporeans as to whether or not the government should be praised for the low crime rate and cleanliness of Singapore, or condemned for their harsh policies.


Concept of Poverty and its Measurement
In Singapore, households form the basic unit for poverty measurement and analysis. A private household refers to a group of two or more persons living together int he same house and sharing common food or other arrangements for essential living.

Poverty is linked directly to the standard of living in a place and what the people in a country or region perceive is the social norm. Because of this Singapore is most commonly described in terms of money for its statistical measurement of poverty. Thus, we must look into the overreaching facets of Singapore's economy and social improvement or policing techniques to completely understand how the island nation as a whole has managed to practically eradicate poverty.

Singapore not only provides a large amount of accessible public benefits it also provides the many more opportunities through its economy for a person to be prosperous rather than poor. The understanding of these topics and their facilitation can help other countries in the region have the same results that Singapore has spent the last 30 years achieving.




Quick Statistics:
Singapore

Gross Domestic Product (GDP)

$235.70 billion

Population

4.66 million

Labor Force

3.03 million

Unemployment Rate

2.99%

Population Below Poverty Line

0.00%

Philippines

Gross Domestic Product (GDP)

$317.964 billion

Population

92 million

Labor Force

36.81 million

Unemployment Rate

7.6%

Population Below Poverty Line

30%

Vietnam

Gross Domestic Product (GDP)

$241.8 billion

Population

86 million

Labor Force

47.41 million

Unemployment Rate

4.9%

Population Below Poverty Line

7.8%