This video explores the success story of Singapore, a small island nation that has transformed itself into a wealthy and high-tech economy over six decades. From its early days as a colonial trading port to its current status as a financial center, Singapore’s growth is attributed to decades of planning by its ruling party. The country’s formula for success includes building a manufacturing industry, establishing a solid financial and legal system, and attracting foreign capital with low taxes and a business-friendly environment. However, Singapore’s leadership is also criticized for restricting civil liberties and the media, and the country faces new challenges such as managing discontent, guiding its evolution into a tech hub, and addressing issues like housing prices, cost of living, and an aging population. As the country’s leadership changes, the new prime minister, Lawrence Wong, faces the task of sustaining Singapore’s hard-earned success.
Vocabulary List (Content Related):
| Word | Definition | Example Usage |
|---|---|---|
| envied | (verb) to feel or show admiration and a desire to possess something | Singapore’s financial center is envied the world over. |
| robust | (adjective) strong and healthy; able to withstand or resist | Singapore’s high-tech economy is a robust example for other countries. |
| pivotal | (adjective) extremely important or decisive | Singapore’s location makes it a pivotal shipping hub. |
| laid the fundamentals | (phrase) to establish the basic principles or structures of something | Lee Kuan Yew laid the fundamentals for Singapore’s solid financial and legal system. |
| legacy | (noun) the impact or influence that someone or something has after they are gone | The legacy of Lee’s approach to finance is evident today. |
| ambitious | (adjective) having a strong desire to achieve something | Singapore embarked on an ambitious land reclamation project. |
| subordinated | (verb) to make something less important or secondary to something else | Freedom of the press must be subordinated to the needs of Singapore’s integrity. |
| common man’s touch | (phrase) a sense of connection or empathy with ordinary people | Lawrence Wong is seen as having a common man’s touch as the new prime minister. |
- Singapore’s GDP per capita is the highest in Asia and one of the highest in the world.
- Singapore’s wealth is the result of decades of planning by the ruling party, with a focus on building a strong manufacturing industry and finance sector.
- The country’s prime location has made it a pivotal shipping hub and a desirable place for businesses to set up regional headquarters.
- Singapore’s success has also come with challenges, including restrictions on civil liberties and the media, as well as concerns about income inequality and housing prices.
- The country’s new prime minister, Lawrence Wong, faces the challenge of sustaining Singapore’s success while addressing these issues and adapting to a changing global landscape.
Vocabulary Quiz
1. The word “envied” in the passage means:
2. The phrase “labor-intensive industry” in the passage refers to an industry that:
3. The word “liberalized” in the passage means:
4. The phrase “knowledge-based economy” in the passage refers to an economy that:
5. The word “cognizant” in the passage means:
Answer Key:
The correct answer for question 1 is: a) admired
The correct answer for question 2 is: c) requires a lot of unskilled workers
The correct answer for question 3 is: b) made more flexible
The correct answer for question 4 is: c) relies on creativity and innovation
The correct answer for question 5 is: a) aware
Present Perfect tense
The grammar point for this exercise is the use of the present perfect tense to describe an action that started in the past and continues up to the present moment. This tense is often used to talk about accomplishments, experiences, and changes that have occurred over a period of time.
In the context of the passage, the present perfect tense is used to describe Singapore’s transformation from a colonial trading port to a modern financial center, as well as its growth and development over the years. For example:
Over six decades, Singapore has transformed itself from a colonial trading port to a buzzing financial center…
Its wealth is the product of decades of planning by a party that’s been in power since independence.
The total value of assets under management in Singapore has jumped from $420 billion at the start of Lee Hsien Loong’s tenure to 3.6 trillion in 2022.
Exercise:
Choose the correct answer to complete each sentence:
1. By the time I arrived, they ____________________ (finish) their project.
A) had finished
B) have finished
C) finish
D) were finishing
2. My parents ____________________ (never/let) me stay out past midnight when I was in high school.
A) have never let
B) never let
C) had never let
D) were never letting
3. The company ____________________ (expand) its operations to several countries in the past decade.
A) has expanded
B) had expanded
C) expands
D) is expanding
4. By next year, I ____________________ (study) English for five years.
A) will have studied
B) have studied
C) study
D) am studying
5. The researchers ____________________ (collect) data for their study over the past six months.
A) have collected
B) collect
C) collected
D) are collecting
Answer Key:
1. B) have finished
2. B) never let
3. A) has expanded
4. A) will have studied
5. A) have collected
