Rear Admiral David F. Baucom serves as the director of logistics strategy in the U.S. Navy. The nature of RADM David Baucom’s career requires travel to different parts of the world. One of the countries he enjoyed visiting is Singapore.
A British trading colony founded in 1819, Singapore joined the Malaysian Federation in 1963. After two years, it was forced out of the federation and became an independent country in 1965.
Prospects for the fledgling country did not look good, as it was underdeveloped and small; it is just slightly three and one-half times larger than Washington, DC. Moreover, it lacked natural resources.
One advantage Singapore did have was its natural harbor and strategic location. An estimated 40 percent of the world’s maritime trade passes through the country that is located at the mouth of the Malacca Strait. The late Prime Minister Lee Kuan Yew embraced a free-trade approach, ran a graft-free government, and is often credited with the country’s success.
Based on data from The World Bank Group, Singapore’s gross national income as of 2014 was $55,150 per capita. One of the world’s most prosperous countries, it also has one of the world’s most competitive economies, which is underpinned by its robust services and manufacturing sectors with a strong export orientation.