Why is Singapore SO RICH and your country is NOT

No other country in human history traveled from the 3rd world to the 1st world so quickly and so successfully. But what was the cost of this miracle, and is Singapore's future still bright? ► Get the Yolla app to make cheap international calls to mobile and landline phones. Use promo code MAXCHERNOV to get a bonus: https://app.adjust.com/ruek43c?campaign=canadacoupl&adgroup=YouTube&creative=cancoufirst&engagement_type=fallback_click&fallback=https%3A%2F%2Fyollacalls.com%2F&fallback_lp=https%3A%2F%2Fyollacalls.com%2F WATCH NEXT: 📌Pros & Cons of Living in Singapore as a Foreigner: /watch/owC2NXNBd2xB2 📌Why I Moved to SINGAPORE from EUROPE and NEVER going back: /watch/gGibp7_X_99Xb 📌What $4,500,000 Buys You in Singapore: /watch/cJ1SJPicHQlcS LET'S BE FRIENDS: ► My Instagram (use translate button to read the posts 😇): https://www.instagram.com/chernov_networking ► Sponsorship related requests: maxim.chernov.msc@gmail.com WHAT IS THIS VIDEO ABOUT: Singapore is a tiny city-state in South-East Asia. Despite the lack of national resources, today's Singapore has super developed economy, top-rated healthcare, education system and it's the world’s best place to be during the pandemic, according to Bloomberg. But back in 1960th Singapore was a tiny corrupted colonial outpost with a poor population, struggling economy, crime, and ethnic violence. So what are the main principles that Singapore had that made it so successful and what to expect Singapore? 1.Fighting corruption. And I mean not proclaiming it before the next election, but actually fight against it. When the first PM of Singapore, Lee Kuan Yew, came to power in 1959 one of his first strategic goals was to get rid of corruption as it was a core problem at that time. So P.A.P, The People's Action Party, attacked corruption top-down. They did two things: First, they introduced The Corrupt Practices Investigation Bureau, which was looking for corruption cases and implementing harsh penalties. 2nd thing that helped to fight corruption was increasing salaries of civil servants. Singapore Ministers are now the highest-earning globally, along with Singapore's PM's salary of insane $1.6 million annually. Can bear with the high cost of living in Singapore :) 2.Solving housing problem. In 1960, due to a rapidly increasing population, more than 400,000 people were living in overcrowded conditions in old, decayed chophouses. There were also many cases of illegal squatting. Lee Kuan Yew thought that owning an apartment, especially a recently built fresh one, would make people feel more responsible and connected with their mutual land. And that was really needed as Singapore was a brand new independent country with a strong ethnic mix. So the government began a massive construction project to provide accommodation for the large number of Singaporeans, either homeless or living in slums. So these new apartments were heavily subsidised by the government and they were shortly named HDBs. And later in 2021 this housing option is used to fall in love and get married by Singaporean couples :) 3.Focus on human resources, not natural resources. In a parallel universe Singapore wouldn't care about human assets if they had minerals like UAE or Norway. But there were no minerals in Singapore, even no fresh water supply. And that was a great luck! At independence in 1964, Singapore had a low-skilled and low-cost workforce. The idea was to help Singaporeans develop their skills needed to compete within the region and globally. So Singapore's government set up Industrial Training Centers for people who wanted to upgrade their knowledge and skill set. Lee Kuan Yew himself was a big fan of leveraging the best practices from other countries like at some point, he decided to spend a few weeks in the United States specifically to learn from them. So a similar approach was used for Singaporean students. Singapore sent its brightest students to elite universities in the West and paid for it. It helped to achieve an initial goal for Singaporean citizens to become competitive in a global economy. 4.National idea and unified language. A newborn country needed some ideas and guidance to glue its people together. So despite the four main religions and races receive equal treatment legally, English was chosen to unite citizens and allow them to take a part in the global economy. .... Hey! I'm Max. This channel is for those who like to know more about life in Singapore, social media marketing trends globally, and to hear the stories of lifestyle business owners from all over the world. Two videos per week – Monday and Thursday 5 pm Singapore time. Enjoy! 😘 *Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partner websites. The content is accurate as of the posting date but may not be accurate in the future. #MaxinAsia

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