2. In your opinion, which Asian nation has had the greatest success in meeting its peoples' needs since World War II? Justify your answer with specific details.

Singapore is the Asian nation which has had the greatest success in meeting its people’s needs since World War II. Singapore has developed a highly successful, free market economy with an open environment, stable prices, and a high per capita GDP.

Singapore is the Asian nation which has had the greatest success in meeting its people’s needs since World War II. Singapore has developed a highly successful, free market economy with an open environment, stable prices, and a high per capita GDP.

Explanation:

Singapore has a deeply acquired and flourishing free-market economy. It possesses a notably clear and corruption-free environment, constant prices, and a per capita GDP longer than that of most advanced countries. The administration depends heavily on exports, especially in consumer electronics, learning technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy shrank 0.8% in 2009 as a result of the global economic crisis, but rebounded 14.8% in 2010, on the strength of repeated exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European collapse. Over the longer term, the department hopes to build a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade.