Tuesday, 4 October 2016
In 1819, Sir Stamford Raffles founded colonial Singapore as a trading post of the East India Company; after the establishment of the British Raj, the islands were ceded to Britain and became part of its Straits Settlements in 1826. During World War II, Singapore was occupied by Japan. It gained independence from Britain in 1963, by federating with other former British territories to form Malaysia, but was expelled two years later over ideological differences. After early years of turbulence, and despite lacking natural resources and a hinterland, the nation developed rapidly as an Asian Tiger economy, based on external trade and its human capital.