Most of us are aware of Singapore's rise to prominence to become one of the most advanced and well-endowed economies in the world almost five decades after it broke free from the yoke of colonial rule. However, Singapore's history can be traced back to the 11th cent when prince Parameswara held sway over the island nation. It was during his reign that the Singapore was developed for the first time.
Nevertheless, the foundations for a modern nation were laid with the advent of Sir Stamford Raffles in 1819 who established a trading post by signing an official treaty with the Sultan of Johor in the same year. Singapore was under Japanese occupation from 1942 to 1945. Singapore gained complete freedom from British rule when it became a province of Malaysia in 1963. It broke away from the Federation of Malaysia in 1965 to become a fully independent and sovereign republic. Following are the top 10 newsworthy events that have helped shape the economy of Singapore since Stamford Raffles set foot in the city-state.
1.Sir Stamford Raffles arrives in Singapore in 1819 on 28th January-Soon after arriving he realises that a natural port could be developed that could make the island a strategic maritime gateway. Gradually, Penang and Malacca along with Singapore become colonies of the Straits Settlement.
2.Singapore port becomes the principal naval base of the British in East Asia-With Singapore being made the capital of the Straits Settlement in 1832, the Singapore Port becomes a magnet for migrant workers from India, China, and other neighbouring Asian countries.
3.Singapore is besieged by the Japanese in 1942-Japan starts its campaign to occupy Singapore by bombing it in 1941. Ultimately, Singapore is annexed by the Japanese in 1942 and is rechristened as Syo-nan (light of the south). Following the surrender of the Japanese in 1954 on 15th August, the British regained control of Singapore.
Independence and after
4.Singapore becomes a distinct crown colony in 1946-After the Japanese, an interim military administration is constituted to administer the island till March 1946. The Japanese had completely annihilated the infrastructure of Singapore. The economy starts to recover by 1947. Lee Kuan Yew becomes the first prime minister of Singapore in 1959.
5.Singapore becomes an independent sovereign republic in 1965-Post independence Singapore became a province of the ‘Federation of Malaya in 1963. However owing to continuing ethnic and political strife, Singapore breaks free from the federation and becomes an independent sovereign republic by becoming an UN member in 1965. The last of the British forces withdraw in 1971.
6.Prime Minister Lee Kuan steps down in 1990-After remaining PM for an unbroken period of 31 years, the first PM of Singapore Lee Kuan steps down and is replaced by Goh Chok Tong. An American teenager by the name of Michael Fay is caned in public for demolishing vehicles. The event shocks the world.
7.Following the Asian economic crisis in 1998, Singapore is plagued with recession-In 1997 Singapore after a long time experiences the adverse effects of the ‘Asian economic crisis'. Several tough measures are taken up and implemented rigorously to combat the crisis.
8.A massive rally is taken out for the first time in 2001 against the government of the day-A huge rally is taken out to drum up support for the seasoned opposition leader J.B. Jeyaratnam who is indicted for bankruptcy and subsequently impeached from Parliament.
9.Singapore starts pulling itself out of the worst recessionary crisis ever in 2009-With the economy surging ahead at a CAGR (compounded annual growth rate) of over 20% from April-June 2009, it is finally able to shake itself free from the morass of deep economic recession.
10.Demonstrators hold extraordinary large anti-government rallies in May 2013-The local populace holds peaceful rallies and meetings to voice their dissent against the administration plans to increase the population largely in conjunction with foreign immigrants.