Singapore had achieved economic success with an economy that was heavily managed by the government. The state owned, controlled, or regulated the allocation of capital, labor, and land. It controlled many of the market prices on which investors based their investment decisions and was the exclusive provider of social services and infrastructure. The recession, however, stimulated discussion of impediments to economic performance and of dysfunctional aspects of the government's role in the economy. A 1987 report by the government appointed Private Sector Divestment Committee recommended that the state dispose of most of its interest in private companies over a ten-year period. It recommended privatizing forty-one of ninety- nine government-controlled companies and investing the proceeds in high-technology companies. Topic sentence Specific description Detail of the process of enhance assets An example as a evidence

Throughout the 1970s and 1980s, the government controlled wages through the annual wage guidelines set by the National Wages Council, a body in which representatives of employers, trade unions (which were controlled by the PAP), and the government reached a consensus on wage levels for the coming year. The council's wage guidelines were in the form of macroeconomic projections and were applied across the board in all sectors of the economy. In December 1986, the cabinet approved a National Wages Council report calling for a revised wage system that permitted greater flexibility, (the flexi-wage policy) with more use of bonuses and wage increases linked to increases in productivity. It was, however, not clear how the productivity of white-collar workers and civil servants, who constituted an increasing proportion of the work force, was to be measured. The call for wages to reflect the productivity and profitability of particular industries and firms implied more bargaining between workers and employers and a diminished role for the government, which could not impose a single rate on hundreds of distinct firms. Summary : The government behaviors to control the national economy with management of citizens’ employment

Although there was general agreement on the need for changed economic policies and modes of administration, significant tensions remained between those who favored greater flexibility and liberalization and those who wanted government direction of the economy. For Singapore's leaders, the challenge was to devise more sophisticated means of ensuring overall control while permitting greater autonomy and flexibility at lower levels. Conclusion : The economic management of local or central governments is necessary and important to enhance the national economy which the advancement or development of a country to survive in the booming society depends on.

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The formation of the Singapore government's strategy is to develop headquarters economy. In Singapore, the development of financial and business services sector, the government more for its manufacturing industry to develop a strategy for a more detailed development strategy. The beginning of the development strategy for "1972 annual budget report", in "Twentieth Century Economic Development Plan eighties" (1981), which are perfect, and in the late 80's "Singapore economy: new directions" (1986) been more specific. Singapore and the Atlantic Ocean, the Middle East and the Pacific region is connected, making it 70 in the 20th century into an international fund centers to 90 years, Singapore has become the London, New York and Tokyo after the fourth largest foreign exchange market, the world's leading financial institutions have also set up regional headquarters in Singapore institutions. Without the active participation of the Government of Singapore as a regional financial center and business center is difficult to established. topic sentence reinforce (good governance is key to ensuring a nation’s survival.) example elaboration example

Government finance and business development is one of the contributions of those often overlooked in public goods such as maintaining the integrity of the credit market, the market environment for multinational companies operating in the convenience and the Singapore dollar to protect the currency stable, and Such public goods elsewhere in Asia are often ignored by the local government. For example, in the 20th century, 70 years, the Government through the implementation of financial reform measures to actively seek international financial and business Singapore's comparative advantage. example topic sentence indicate good governance is key to ensuring a nation’s survival indirectly.

Established in 1971, with similar functions of the Central Bank of Singapore Development Bank and Singapore's monetary authorities, as the Singapore government will build on the realization of the "Oriental Zurich" development strategy, effective organization. Asian dollar market development shows how the Government to pass on the "franchise" legislation, then run by the transnational corporations and business center offers facilities to reduce costs, so as to achieve to attract new financial institutions and business purposes. Again, the Singapore government, "Twentieth Century Economic Development Plan eighties," the core is to provide the best of Singapore into a wide range of financial services to the "financial supermarket", designed to complement the introduction of international financial institutions have also made significant policy results, from 1981 to 1990, the number of foreign banks increased by a By 1990, Singapore Asian dollar market, has 199 member units. An example as an evidence The core of the plan result (a business established or operated under an authorization to sell or distribute a company's goods or services in a particular area.) target good vocabulary

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