How did Singapore become an insanely rich country despite having pretty much zero resources that it can exploit?

Question

How did Singapore become an insanely rich country despite having pretty much zero resources that it can exploit?

In: 12

Answer 1

Their legislation are pretty business friendly and their population is highly educated. This make them very competitive in field of banking and high technology. They also have a big port in a very strategic location near the strait of Malacca between the Pacific and Indian ocean. It’s the second busiest port in the world, the biggest by cargo and half the world’s annual supply of crude oil go through it.