Abstract

This report explores the relationship between political values and economic success by
examining the cases of China and Singapore. While many attribute the success of the
American economy to its capitalist democracy, the experiences of China and Singapore
challenge the notion that democracy is the sole path to prosperity. The report focuses
primarily on China's political values and their influence on its economic success, with
supporting insights drawn from Singapore. The thesis of this report is that democracy is not
the exclusive driver of success, and various factors, including political values and ideologies,
contribute to a country's economic strength.

Introduction

The success of the American economy has often been attributed to its capitalist democracy.
However, the cases of China and Singapore present alternative models that have achieved
remarkable economic success despite differing political systems. This report aims to analyze
how China's political values have shaped its economic achievements, with Singapore
providing complementary insights. The central thesis is that democracy is not the sole
determinant of success, and a range of factors and ideologies contribute to a country's
economic strength.

Methods

This report relies on a comparative analysis of China and Singapore, drawing on scholarly
articles, government reports, and empirical data. The research encompasses an examination
of the political values and systems of both countries, as well as their economic outcomes.
Counterarguments and criticisms are addressed by presenting evidence and counterpoints to
support the thesis.

Political value and success

A. American Dream
The traditional view that attributes the success of the American economy to capitalism and
democracy. First and foremost, he United States has a long history of embracing capitalism,
which is an economic system characterized by private ownership of businesses and the
pursuit of profit. Capitalism promotes competition, innovation, and entrepreneurship, which
are believed to have driven economic growth in the country. The American economic system
encourages investment, risk-taking, and the accumulation of wealth, which has led to the
development of a robust private sector. After that, Democracy is a political system that
emphasizes individual rights, freedom of speech, and participation in decision-making
processes. The United States has a democratic system that provides a stable political
environment, protects property rights, and upholds the rule of law. Democracy fosters
transparency, accountability, and a favorable business climate, which are crucial for attracting
investments and promoting economic development.Base on that, the American legal system
is based on the rule of law, which ensures that contracts are enforceable, property rights are
protected, and individuals have equal access to justice. This legal framework provides
certainty and stability for businesses and investors, encouraging economic activity and
facilitating trade. Moreover, the impact of political and economic systems on development
can vary across countries, and alternative models, such as the cases of Singapore and China,
demonstrate that different approaches can lead to economic success as well.
B.