Total Pageviews

Wednesday, 16 January 2013

How a Red dot punctuates Global growth!

An exemplary of a country to rise from rags to riches in an unprecedented time. A growth journey which is copy book and envious to peer countries irrespective of size and spread. My built up deliberately deceives as a reference to a big and naturally blessed country. But to an absolute contrary, my reference is about a 710 sq km tiny island at the southern tip off Malay Peninsula sharing the border with Malaysia in north and Indonesia in south. Once arguably disparaged as Red dot by one of its neighbor, Singapore took that epithet to its stride and transformed it to signify size-defying, phenomenal growth. A country which was shrugged off with no natural resources, contradicted the fallacy, building on the only natural resource it had, its People. A country, which defied the very understanding that it takes generations to move the needle from Developing to Developed status. Best way to describe city state's incredible stature is: One of 20 smallest countries which is also the wealthiest country by GDP per capita in the world.

Singapore believes there is no prize for coming second, and relentlessly strives to be a leader with every change. Be its architectural marvel, Marina Bay Sands or unique night street F1 race or worlds biggest Oceanarium. Its this particular approach along with the incredible marketing, sets Singapore to the topmost pedestal in World stage. While its thought leadership sets it ahead of the pack, relentless diligence and impeccable discipline ensured sustained success. Time and again, it proved its resilience, whether its 1997 or 2008 financial crisis while global stalwarts stumbled.
While Singapore find its name in top laurels, infallible processes may give rise to perception side-effects. Lately, it has been voted as the most emotionless country by Gallup survey. Its best left as a perception as I personally dont see any dearth of emotions in this vibrant society. Also, been voted as one of the best place to live in the world, seems contrary if it comes at the cost of emotional quotient. Anyways, It has its share of sensations as well, thanks to sudden splurge of sexual cases and repetitive rail breakdowns. It did cause widespread publish peevishness but minor glitches in the wider schema of things, is exonerable. Singaporeans have their share of crib as any other country but a single comparative with their peers, should make them proud of this progressive country, irrespective.

Singapore is what it is, due to exemplary governance since inception. A government, which is most trusted after China and UAE. A government, facilitating incredible infrastructure,  ensuring zero foreign debt consistently, strong balance sheet and relentlessly catering to a world class standard of life. Salient aspects to attain and sustain success in the long run. Leading the change and changing to be a leader is an apt expression for city-state. An expression, which translates into wealthiest country, world's fourth leading financial center, world's second-biggest casino gambling market, one of the world's top three oil refining centres, world's largest oil-rig producer, one of the five busiest ports in the world and best of all, world class airport, Changi. House to some amazing amusements like world's largest fountain at Suntec, world's first Night zoo, Night Safari etc.The list of accomplishments are exhaustive and envious.

There are three take-aways, world could learn from city-state: Thought leadership, Strong governance and Infallible Discipline. In an uncertain world, when economic big-wigs are crumbling, a tiny dot continues its giant march and contributes significantly to underline global growth.