This paper suggests that there is very little substance to the so-called Beijing Consensus. Instead, China's political system is simply the consequence of the communist triumph over the Kuomintang, and her economic approach the reversal of the disastrous policies of the Mao period coupled with lessons learnt from the economic development of other Asian economies including Singapore. As Singapore is often touted as a model for China, this paper sets out an important but often underappreciated element that underpins Singapore's success, namely its democratic system of government. It suggests that this may be the most important lesson that China can learn from Singapore.
A strong reciprocal relationship has existed between Singapore Company Law (SCL) and the economy since Independence in 1965. Swift Parliamentary responses to economic events and successful implementation of Government policies has made it possible to clearly attribute cause and effect to statutory amendments and economic events in turn, proving the reciprocal relationship between the two. The first theme of this article seeks to explain the fundamental characteristics of SCL that have resulted in such an unusually strong reciprocal relationship: (1) Autochthonous nature of SCL; (2) Responsive nature of legislation; and (3) Government control at multiple levels of implementation. The second theme examines the interplay between:(1) Domestic political and economic events; and (2) Foreign laws and economic events in influencing legislative responses over time and their impact on SCL. This will be done through an examination of four key areas of SCL over 50 years of Singapore economic history.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.