Crazy Rich Singapore on This Day in History

This day in history: Singapore separates from the Federation of Malaysia and gains its independence on this day in 1965. However, the real story is that Singapore was expelled from Malaysia and became the only country to date to gain independence unwillingly. It all worked out though as the Singapore economy is now known as one of the freest, most innovative, most competitive, most dynamic and the most business-friendly. Singapore has a low tax rate, a stable and safe government and a well-regulated banking system. According to WealthInsight, a data firm collecting information on the world’s wealthy, one in 34 people in Singapore are millionaires.

According to Boston Consulting Group, for every 100,000 households there, 10 are worth $100 million or more.

The second richest country (by percentage of population) is Qatar where 14.3% of the population are millionaire households. In Europe it is Switzerland where 9.5% of the population are millionaire households. Next in line is Hong Kong.

Singapore has virtually no social safety net. "The first thing to know about Singapore’s welfare system is that qualifying for welfare is notoriously difficult by the standards of most of the developed Western world. The Singapore government’s position on welfare handouts is undergirded by a staunch economic philosophy of self-reliance and self-responsibility where the first lines of welfare should be derived from one’s individual savings, the family unit, and local communities before turning to the government. The state, in other words, should not act as a guarantor of means but merely a guardian of final recourse." ~Donovan Choy

Singapore is also one of only three surviving city-states in the world. The other two are Monaco and Vatican City. Several non-sovereign cities enjoy a high degree of autonomy, and are sometimes considered city-states. Macau, Hong Kong, and members of the United Arab Emirates – most notably Dubai and Abu Dhabi – are often cited as such. The Economist refers to Singapore as the "world's only fully functioning city-state". In particular, it has its own currency and a full armed forces for deterrence to safeguard the nation's sovereignty against potential aggressors.

Singapore has four official languages: English, Chinese, Tamil, and Malay. 

Buildings in Singapore cannot be higher than 280 metres. 

Singapore has taken extreme measures to reduce vehicle usage. A Certificate of Entitlement (COE) is required, costing more than S$80,000 to successful bidders. This permits ownership of the vehicle for a period of 10 years after which the vehicle must be scrapped or another COE paid for allowing an additional 5 or 10 years of usage. Certain roads and expressways in Singapore are subject to the Electronic Road Pricing (ERP) system. COEs and the ERP system are intended to encourage people to use public transport such as the Mass Rapid Transit and public buses instead of driving.

Help my brother Mark Jones on his Stage 4 Cancer Journey

https://thebookshelf2015.blogspot.com/2021/07/help-mark-jones-stage-4-cancer-journey.html