Singapore has long been seen as the Switzerland of Asia, a pro-business, largely neutral state with a huge financial services sector catering to an international clientele. Like Switzerland, Singapore is an integral part of the surrounding region yet also has a strong independent streak and never leans too far to one geopolitical side.
At the same time, Singapore has cultivated some of the same niches in the traditional financial services sector as Switzerland, notably wealth management, while its fintech sector is even larger and more internationally oriented than Switzerland’s.
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