Singapore

Market-Based Economy

Singapore has no natural resources of its own and turned itself into a highly developed market-based economy, which revolves around extended trade.

It’s the middleman with the one of the busiest ports in the world, and a significant amount of the country’s GDP depends on exports from the refining of imported oil and from manufactured goods.

Singapore has been rated as the most business-friendly economy in the world, with thousands of foreign expatriates working in multi-national corporations.

The city-state is also the fifth wealthiest economy in the world in terms of purchasing power, and holds $171.8 billion in Forex reserves and gold.

The Singapore economy has weakened over the course of 2008, alongside the turmoil in financial markets and a severe drop in global economic activity and trade.

The Monetary Authority of Singapore has changed its policy stance to a zero percent appreciation of the Singapore dollar exchange rate. Meaning, in a situation where inflation is dropping – as it is now in Singapore – its currency will maintain strength and stability, without putting exporting power in jeopardy.

One of the ways to keep its currency from appreciating too quickly is to cut interest rates, which the country has been doing for the past two years.

How to Post Double-Digit Gains With Today's Ultra Hot Market

While the U.S. economy is tanking… sending stocks to zero… washing out retirement funds that took years to build… a few people are prospering by knowing their way around one important market - currencies. Just consider that Canada’s currency shot up by 22%… and New Zealand’s rose 36% in the last six months.

You could be one of the few able to prosper with this hot sector. So you must act now... so you can prosper in 2009.