The Economy of Singapore
From Colony to Independence, 1819 to 1965
Founded as a British trading post in 1819, Singapore joined Malaysia and was separated in 1965, becoming independent without any hinterland.
Singapore’s success began with an unwelcome surprise.
Trading post
Stamford Raffles established a British trading station in 1819, and it grew as a free port.
Merger
Singapore joined the Federation of Malaysia in 1963.
Separation
Tensions led to its exit in 1965, leaving a tiny country with no natural base and few defences.
Leadership
Lee Kuan Yew, prime minister from 1959 to 1990, led a strategy of rapid modernisation.
A sudden start
On independence, leaders worried about jobs, water, defence and survival.
Thinking success was guaranteed
Independence in 1965 was seen as a crisis.
Key takeaways
- Singapore was a British trading post.
- It left Malaysia in 1965.
- Survival was the initial fear.
- Lee Kuan Yew led its development.
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