
A small island city-state in the southeast of Asia, Singapore is considered one of the world’s top business locations. Having declared its independency from Britain in 1963, Singapore has built a modern economy focused on industry, education and urban planning, and today it is the fifth country in the world in terms of GDP (gross domestic product) per capita.
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Apart from the southern part of Australia being on fire, the north under deep flood water, the north east being hit by cyclones, the interior being still in the grip of a severe drought, sharks and crocodiles attacking the population with unusual regularity, nothing much is happening down under. Just a normal day at the office: Except for the worst recession we have seen in years, unemployment rising to the worst level in 10 years and some businesses packing up and moving their operations off-shore. Some of the trading partners to the north have problems as well. The mining boom in Australia that fed the growing Chinese economy has slowed considerably. Just as the rest of the world, the APAC region is also feeling the pinch of the global recession.