Final answer:
Singapore's 'site limitations' refers to its small geographic area and lack of natural resources, requiring the importation of various resources. Despite this, Singapore's 'great situation' as an economic hub and its strict governance contribute to its high GDP per capita and global business attractiveness. The nation's policies focus on increasing productivity, capital, and technological advancement.
Step-by-step explanation:
The assertion that Singapore possesses 'site limitations, but great situation' references its geographic and economic circumstances. Singapore's 'site limitations' refer to its small size and lack of natural resources, necessitating the import of raw materials, food goods, construction materials, and energy, which inflates the cost of living. In contrast, Singapore's 'great situation' highlights its advantageous position as an economic hub for Southeast Asia, with strong global airline connections and a strategic location on a major shipping lane. Singapore's world-class port is among the busiest in Asia and contributes significantly to its economic success.
Singapore overcomes its geographic limitations by focusing on high-tech manufacturing and processing of imported raw materials to fuel its high-income economy. Moreover, stringent control measures and a safe living environment created through harsh penalties for even minor offenses have established Singapore as an attractive destination for international corporations.
The authoritarian government actively works to eliminate corruption and establish a business-friendly environment, which is pivotal for attracting foreign investment and driving economic growth. The challenge of having to import virtually everything has been met with policies designed to increase worker productivity, deepen capital, and advance technology, contributing to an impressive GDP per capita.