The status of Singapore as a British possession was cemented by the Anglo-Dutch Treaty of 1824 which carved up the Malay archipelago between the two colonial powers The area north of the Straits of Malacca including Penang Malacca and Singapore was designated as the British sphere of influence while the area south of the Straits was assigned to the Dutch. Main article: Water supply and sanitation in Singapore. ! Currency speculation is considered a highly suspect activity in many countries.[where?] While investment in traditional financial instruments like bonds or stocks often is considered to contribute positively to economic growth by providing capital currency speculation does not; according to this view it is simply gambling that often interferes with economic policy For example in 1992 currency speculation forced Sweden's central bank the Riksbank to raise interest rates for a few days to 500% per annum and later to devalue the krona. Mahathir Mohamad one of the former Prime Ministers of Malaysia is one well-known proponent of this view He blamed the devaluation of the Malaysian ringgit in 1997 on George Soros and other speculators, Physical evidence and effects Main article: List of heliports in Singapore, In 2004 Lee Hsien Loong the eldest son of Lee Kuan Yew became the country's third Prime Minister. Lee Hsien Loong's tenure included the 2008 global financial crisis the resolution of a dispute over Malayan railways land and the introduction of integrated resorts. Despite the economy's exceptional growth the People's Action Party (PAP) suffered its worst election results in 2011 winning 60% of votes amidst hot-button issues of high influx of foreign workers and cost of living. On 23 March 2015 Lee Kuan Yew died, during the 50th year of independence declaring a one-week period of public mourning Subsequently the PAP maintained its dominance in Parliament in the September general election receiving 69.9% of the popular vote behind the 2001 tally of 75.3% and the 1968 tally of 86.7%. On 31 January 2008 SGX acquired a 20% stake in Philippine Dealing System Holdings Corp which has become an associated company of SGX.
3.2 Central banks Rule, 2015 and 2016 saw a downturn for the nation as GDP growth shrunk to just 2 percent Despite growth diminishing the nation has yet to post negative growth rates which are a positive sign During the same period of diminishing economic growth Unemployment and inflation have also decreased. .
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