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What's driving Singapore's massive GDP growth?

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Singapore GDP growth rate hit an all-time 14.7% in 2010. Singapore is the poster-child for free trade and is benefitting from the massive round of free trade agreements forged between China and the ASEAN countries. Tariffs on 8,000 goods and services were reduced from 20% to 0. Numerous foreign direct investment agreements were also signed. FDI's allow cross pollination across national boundaries. Capital investment and trade is soaring - thus the huge GDP growth number from Singapore.

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