Singapore
Since independence, Singapore's standard of living has been on the rise. Foreign direct investment and a state-led drive to industrialisation based on plans drawn up by the Dutch economist Albert Winsemius have created a modern economy focused on electronics manufacturing, petrochemicals, tourism and financial services alongside traditional entrepôt trade.[citation needed] Singapore is the 8th wealthiest country in the world in terms of GDP per capita. This small nation has foreign exchange reserves of more than US$177 billion.