Class transformations and political tensions in Singapore's development
Singapore's economic expansion in recent decades has been dramatic. Since 1960 its per capita gross national product has increased seventeenfold and now approximates those of Australia and New Zealand. The interrelated objectives of employment creation and economic growth through industrialisation have long given way to more ambitious aims. For at least the last decade, economic policy has been oriented towards securing technology-intensive niches in the international economy in a range of service and manufacturing industries.