“…Despite its size and lack of natural resources, within 30 years of its independence in 1965, it has seen its GDP per capita grow from US$600 to pass US$24,000 by 2002, placing it among the top 20 wealthiest nations in the world (Peebles and Wilson, 2002;United Nations Development Programme, 2003). As shown in Table 1 below, until the Asian Economic Crisis of 1997, the economic success experienced by Singapore and other East Asian 'Tiger' economies as compared to other economies up until 1997 was a phenomenon not predicted by many economists.…”