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The Singapore economy went through several changes due to changes in its mode of governance from being a trading outpost of the East India Company (EIC) to being part of the colony of the Straits Settlements, and more recently to being a British colony by itself, then to being part of Malaysia and now an independent republic. These modes of governance enabled the economy to grow until Singapore became more important and also more closely linked to the outside world. British rule, British capital and the response of the people who came, enabled Singapore to integrate technological change so that it is now part of a global network. However a declining rate of births and a large foreign population now compel Singapore to make further changes.