Peck Jie Sheng DanielD5CA2 Essay"The economic prosperity of Singapore since 1965 has ensured the survival and sustainability of the nation of Singapore." To what extent do you agree or disagree with this statement? Since gaining independence in 1965, Singapore has experienced tremendous economic growth. GDP per capita increased from $516 in 1965 to $54,776 in 2013, one of the highest in the world. However, this economic prosperity did not come easily. Singapore's economy has undergone constant restructuring to remain globally competitive. Starting with an export-oriented industrialization (EOI) strategy in the 1960s and 1970s, the economy moved rapidly up the value chain. Today, Singapore is a knowledge-based economy and an exporter of net capital. These transitions were not a natural product of market forces. Instead, the Singapore government has had a long-standing strategic role, dictating the country's economic direction, building markets and subsidizing infrastructure. Singapore's economic success has left an indelible mark on its nation. Some even argue that without it the nation of Singapore would not have survived. However, today there is increasing discussion about whether past and present economic policies have been too focused on growth, creating inequalities and social divisions that threaten the sustainability of the nation. This essay examines these claims. A nation is “a community of people, whose members are bound together by a sense of solidarity, by a common culture, by a national consciousness”. By this definition, the nation of Singapore was particularly vulnerable at its inception. Nationality was unexpectedly imposed on Singapore in 1965 and national consciousness was low. Socio-political tensions also existed. A...... half of paper ......Over the past 50 years, the existence of a relatively united and turbulence-free Singapore, coupled with strong electoral support for the state, suggests in part that economic prosperity achieved helped the survival and sustainability of the nation. However, the tensions and discontent that have emerged in recent years suggest that Singapore's economic strategy for the future requires rebalancing. The effect of economic growth appears to be increasingly counterproductive in nation-building if Singaporeans cannot participate in it or feel marginalized. It is likely that the state will have to make compromises to solve this problem, and sacrificing some economic success may be the order of the day. (1233 words)“I acknowledge that this research essay is the product of my work and research. All materials consulted, including websites, have been duly cited and credited.”