Introduction
Singapore gained its independence in 1965.It has been growing gradually and increasingly in the economy. I is now included among the world’s most competitive economies. This was made possible by being an public business globally, with a good business environment and a substantial political market, making it a popular country to invest in globally.
Singapore has only a small number of natural resources, so it relies on its human capital as an advantage which is well-known globally and also known to be a skilled work force. Another advantage that Singapore has is its prime location in where the tiny island is located. This have given the people an edge of being a busy port, placing itself as the leader of the trading hub and logistics
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Due to the dependence on non-internal markets, Singapore is more vulnerable to repercussions and actions of the global markets and as a result, the global recession had impacted unemployment rates heavily, which had resulted in a rise in unemployment. Putting that aside, Singapore is known to be among one of the highest employment ratings in the world. Another form of unemployment which is a challenge to Singapore is structural unemployment. Moving alongside Singapore’s speedily developing economy is its shift from being a labour intensive economy to a capital intensive one. This is inescapably met with the challenge of the substitutions of skills in the labour force of Singapore. For example, the recent shift into the biomedical and Research and Development (R&D) industries subject workers who can only work in the lower end of manufacturing industries tend to find themselves unemployed because the mass production work is usually outsourced to other economies that are developing. In order to solve this issue, the government of Singapore had invested a large sum in training and education, with and average of one in four citizens who were employed in 2010 to be degree holders, therefore allowing citizens of Singapore to remain relevant and …show more content…
In addition, after the 2011 Singapore general election, the government of Singapore has greatly changed its economic approach and it seems to be better for the economy of Singapore so far. On the other hand, measures have also been taken to cool down the property market which has constantly affected inflation rates, also tightened the foreign labour policies that constantly influence the labour market and unfold its impacts onto the Singapore’s economy as it comes back in one round. The unemployment rate in Singapore has been maintaining itself as being one of the lowest numbers in the world. The majority of Singapore’s labour force is well educated and highly skilled. Even primary education is a must for all citizens (Economywatch.com, 2010). In addition, for the year 2010, Singapore had the 8th largest current account balance in the world at US$49.454 billion. To conclude, Singapore has come so far from its sunken economy since independence in 1965 to become a booming and prosperous economy that it is
Life is not always easy, at some point, people struggle in their life. People who are in the lower class have to struggle for a job every day and people who are in upper class also have their own problems to deal with. These ideas are very clear in Mary Oliver’s “Singapore”, Philip Schultz’s “Greed” and Philip Levine “What Work Is”. In "Singapore" a woman is likely lower class because she works at the airport and her job is to clean the bathroom. In both “Greed” and “What Work Is”, the speakers make the same conclusion about the struggle in the lower class. “Greed” furthermore discusses how Hispanics get a job first before whites and blacks because they take lower wages. All three poems deal with class in term of the society. The shared idea
Owing to the welcoming attitude maintained towards foreign firms, low levels of corruption, stable political climate, and good relations with neighboring countries (MarketLine, 2013), there is little political risk faced in Singapore.
Singapore as a country has had various transformations throughout its history, however the period 1950 and 1970 was quite critical. Much of these changes had a lot to do with the development of trade and manufacturing. This is without forgetting the financial sector where the intention was to come up with a financial hub that could be used in economic development. Looking at the case of Singapore, we would say that it is a productive economy with a very high market competition. This observation has been further clarified by the Swiss International Institute for Management Development, going with their report that they released in the year 2001 (Chellaraj & Mattoo, 2009). In this study, we intend to evaluate the case of political economy of development in Singapore and examine the tensions between the state and various economic institutions. In additions to examining this institution, we would also like to examine how these variables have contributed towards the attainment of favorable growth rates and economic prosperity.
Singapore acts as a role of an entrepôt for Southeast Asia due to their strategic location, port infrastructure and highly skilled workforce. Singapore also purchases raw materials from other country and then refine the product into a better product to re-export. The reason for Singapore to do this is because of the lack of human and natural resources.
The increase in population have both pros and cons on the effect of Singapore’s economic growth and standard of living. High population growth rate cause difficulty for countries to raise or maintain its current standard of living. As higher population means competition over household, foods, healthcare, and education. Government needs to pump more money to
Singapore thrives on the fact that they are a very business oriented economy. Singapore is seen by people “as a leading global financial center” giving them quite a good reputation amongst the world (Heritage 2014). Singapore, for such a small country has
We will find out how Singapore manage to raises it economic development in such rapid growth aftermath of war and separation.
Until about forty years ago, Singapore was colonized by the British. It seems strange but then again the British would have colonized a tea bag, given the chance. England also had colonized Hong Kong but was afraid of losing this major business and financial center to communism, a legitimate fear because that’s eventually what happened. Fortunately they had already created a clone Hong Kong on a tiny island off the tip of Malaysia. That island was called Singapore. In an effort to keep the business integrity that had been in Hong Kong, Chinese business men were brought in. The British eventually began to relinquish many of their colonies and when they finally left Singapore in the mid 1960s, the Chinese business men, who were the superpower that made Singapore the world trading center it was, took control of power.
Janus Corporate Solutions. (2011) Introduction to Singapore’s economy. Guide me Singapore. Retrieved April 4, 2011 from http://www.guidemesingapore.com/relocation/introduction/singapores-economy
The Lao People’s Democratic Republic, or Laos, is a politically stable and peaceful landlocked country in Southeast Asia, centrally located in the Mekong sub-region. The country occupies about 236,800 square kilometers and almost half the length of the Mekong River that flows through it. It is bordered by China to the north, Myanmar and Thailand to the west, Cambodia to the south and Vietnam to the east. The country has a tropical monsoon climate with a rainy season from May to October. Temperatures range from highs of 40°C along the Mekong River in March and April to lows of 5°C in the high mountains in January. (The World Fact Book) Most of Laos is covered by mountains and dense forests and its population density is among the lowest in Asia. Laos has a population of about 5.6 million, comprising 47 ethnic groups.
Objective history is purely factual and totally uninfluenced by feelings or opinions. By this definition, the Singapore Story is not an objective history.
Singapore had exported 200.7% of GDP goods and services in year 2012 and this is equivalent to $435.8 billion. 178.5% of GDP of goods and services has imported to Singapore in year 2012. From these data, Singapore is highly demand on importation and exportation for the economic growth.
Ever since the 19th century, Singapore has been a major trading hub in Asia for ships travelling from Europe to Asia, with the opening of the Suez canal in 1869 making Singapore the hub for trading activity due to its strategic location along one of the busiest trade routes in the world.
Singapore is one of the most beautiful, fastest growing countries in the world and has many attractions for all ages, which makes it a perfect place for a family getaway or a honeymoon. With a motto like “onward Singapore” it’s hard to not to look at the innovations and ingenuity that Singapore has set forth. With many attractions one can keep themselves busy for a long time; with activities that range from viewing the city skyline to catching up on Singapore’s rich history, there is so much to do and so little time. With the abundance of activities and places to visit, the eccentric Singapore has more to offer other then the cultural and heritage aspect, it also has arts, entertainments, nightlife, nature, wildlife, sports, and leisurely cruises of the scenic Singapore. With Singapore’s rich history, fun attractions for all ages, and cultural and heritage aspect, it makes it a must-go destination when traveling around the world.
Singapore. Is it an island, a city, or a state? Surprisingly, this exotic sounding name applies to all three. The island is a diamond shape. It is a diamond in the sea, sparkling with bright lights at night, and a gem of great value to the world with its important port, and financial center of the world. It is one of the largest in the world. It is necessary for Senior Enlisted Leaders (SEL) to understand the importance of economics and the military strategic for the United States military because Singapore plays a major part of east politically and economically and the headquarters of the Commander, Logistics Group Western Pacific (COMLOG WESTPAC) and the Commander, Destroyer Squadron Seven for the United States Navy. This essay discusses the background,