The article analyzes Singapore's success not through the lens of the absence of customs duties, but as the construction of a complex institutional machine generating economic liquidity. The port became an ecosystem of services that enabled the efficient exchange of goods, credits, and information between diverse trading groups. A key element was institutional modularity and legal pluralism, which allowed autonomous networks (European, Chinese, Malay) to coexist without the need for full cultural integration. Consequently, Singapore minimized transaction costs in a cosmopolitan environment, creating a common layer of security and predictability. From a network theory perspective, the city's value grew non-linearly with the number of participants, making it a strategic hub connecting global capitals with regional markets.
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