How Singapore (Eventually) Got Rich

Singapore's GDP per person in 1965 was $516, poorer than most of Africa at the time. Today it's close to $90,000, about 170 times higher, and almost nowhere on Earth has closed a gap that size this fast. The usual answer is the port. The real answer is a decision made four years earlier, in 1961, to reject the standard playbook every other newly independent country was following and build the whole economy around foreign investment instead.

This is how Singapore got rich.