The term `global village' has become extremely common in the past decade. In fact, one might even say that it has been repeated ad nauseum in the media, and with good reason. Countries are no longer isolated units functioning on their own, but instead, are like discrete families within a small, closely knit community. Such a worldwide phenomenon is enabled by technology that makes the world seem a much smaller place, with increased mobility and ease of communication. In such a community, whatever happens to one country can send reverberations throughout the rest of the world. As a small country, Singapore's interest is inextricably integrated within the developments going on elsewhere. Thus, globalisation is an immense impact on Singapore, especially in the socio-economic sense.
The economy of Singapore has always been firmly plugged into the world's. With globalisation, it has become even more sensitive to the dynamics of the world- the stakes of being involved in the world economy increases exponentially. The heady days of prosperity in Singapore has been fuelled by wealth in the region, and strong consumer demand in the States. On the other hand, current global forces sank Singapore into her worst recession since independence. It has been said that when America sneezes, the rest of the world catches a cold. This is regrettably illustrated by the attack by Islamic terrorists on the Twin Towers on Sept 11, and the corresponding shocks that rocked the global economy. Just as Singapore is on her way to recovery, yet another crisis threaten her. The corporate scandals involving dubious accounting by giant American firms plunge the Dow Jones, and our Straits Times index further. It is evident that Singapore is highly vulnerable t...
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...e Park, have become more strident. Such demands made by the population increases tension between the government and the people, since the former has to balance demand for greater liberty, and the need to maintain security. Writers to the Forum, in the Straits Times, have more than once remarked that if Singaporeans cannot make their views heard, or feel that they cannot make a difference to government decision making processes, they will simply `vote with their feet'. That is, they will choose to migrate. And they can, because of the increased mobility in the world.
In conclusion, Singapore has always been dependent on international trade since her founding. That is the very basis of her prosperity. However, globalisation poses unprecedented challenges for Singapore, as she has to navigate in uncharted waters, which are at once full of dangers, yet hints of hopes.
Most of the countries in the world had used trade to help in expanding and advance their economies and trade markets. Singapore also used the aspect of globalization which has increased communication in her own advantage to improve the economy and trade. The positive effect of globalization is that it has caused rapid changes in trade relations, financial flows, and mobility of labour across the world. The development has brought the economies of developed countries closer together and strongly interrelated to each other. Trade is the most common across the countries and people are able to move from one place to another more conveniently and frequently than before the globalization has happen in this world
Singapore is known to be the most recognized nation worldwide due to the positive impact of globalization. Globalization helps to shape Singapore toward a better future for business and economy. After its 50th years of independence, Singapore is now a strong and stable economy, political or sociocultural, education system, advanced technologies and also business markets opportunities.
One caveat to the strength of Singapore’s is the amount of foreign investments there. Its economy is not as diverse as the United States. Recently, the government has invested in diversifying the economy. As a result, the tourism, pharmaceutical, and many other industries have flourished. However, competition among financial institutions, particularly in banking, is significant and should be considered as it is one of Singapore’s core elements in its economy. PESTLE analysis also reflects this and others such as labor shortages, rising labor costs and a decline in
More industries in Singapore will be developed, grow and offer greater job opportunities for the locals, for example aerospace engineering, biomedical engineering, pharmaceutical research & development and digital media. Without this group of highly-skilled foreign talents, creating new economic sectors and state of art, technology advancement may be more challenging and less smooth sailing. A direct impact is that investors may not be attracted to invest in Singapore due to a lack of skilful work force and so, lesser jobs for the
Singapore has grown from being level with the rest of the world average in the 1950s and 1960s to a steady rise in growth starting in the 1970s all the way up to 2008. Singapore has rapidly began to close the gap between them and the United States as far GDP per capita is concerned, and with this begs the question to what is going on with Singapore’s economy? Mitchell states that Singapore has found that a “small government and free markets are a recipe for strong growth and rising levels of prosperity”. Singapore has found this as the best way for them to thrive and they have taken this to full advantage as they have slowly climbed to the tops of the charts of the worlds’ economies and have not looked as though they have turned back. (Mitchell
Film critics and audiences have dubbed I Not Stupid an excellent commentary on the education system and government paternalism. The movie stars three school children who have been channelled into the undesirable EM3 stream, and shows the trials and tribulation of these children and their parents. I Not Stupid has been described as a "coming of age movie"1 for its rare ability to criticise the government and its policies and bring pertinent issues to light, so much so that many are surprised that it managed to get past the not-too-kind local board of censors. This presents us with an interesting question - with its explicit references to the government and its blatant criticisms of government policies, how did this political satire get past the censorship board? Was it a case of the censors deciding that this sort of criticism was acceptable once in a while? Or perhaps the censors just saw the movie differently. At first mention, the latter might sound very unlikely. However, if we ask ourselves what the real butt of the satire is, we might begin to realise that there is a possibility that this movie is not intended to be a political satire at all. In fact, it is my contention that the butt of the satire in this movie is the Singaporean mentality, and not the government.
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.
Singapore, or the Republic of Singapore, is an island nation located just off the southern coast of Malaysia. This southeastern city-state is separated from its northern neighbor by the Johore Strait. Singapore is separated from Indonesia on the south side by the Singapore Strait (Ho, Winstedt, Leinbach, & Kenndard, 2016). The advanced logistics infrastructure of Singapore supports continued business growth and attraction to the developing country (“Comparing Logistics Infrastructure of Countries in ASEAN,” 2007).
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 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 is one of the only countries to move from “Third world to First world.” This is because Singapore used bold and novel strategies in the initial stage of its development. Most countries and peoples were unaccustomed to these strategies. One such brazen and unexpected move that Singapore made was to refuse International Monetary Fund (IMF) loans. At that time, it was unheard of for a developing country not to take IMF loans because these loans were synonymous with development. In addition, it is important to acknowledge that the colonization of Singapore had some part in the creation of its economic model. Therefore, the colonial and occupation history is important to set the foundation for its economic
Singapore gained its independence after the separation from Malaysia to become a sovereign state due to the different political reasoning and principles between the ruling parties of Singapore and Malaysia. A sovereign state has the ability to go into relations with other sovereign states and practices internal control over the country through laws and rules. Singapore is no different from other sovereign states that would inevitably be dealt with obstacles that seek to undermine the sovereignty of states. Without sovereignty in Singapore, Singapore would never have the opportunity to make decisions, take up roles and beliefs that we currently uphold now. Being remarkably fruitful is deliberately basic for Singapore's sovereignty. Achievement
Since 1970s, Singapore has made economic adjustment, focusing more on capital and technological intensive enterprises according to Meng Choy (2012). There have been large amount of surplus capital and lacking of human resources in Singapore. As a result, making economic cooperation with China can be of great significance for keeping the rapid economic growth of Singapore. China has a large population and has an abundance of natural resources. The large amount of population leads to rich human resources. What’s more, there are a large number of oil reserves onshore and offshore. The vast domestic market and large market capacity have made China become a potential big market for the foreign investors. On the one hand, since the economic reform, the economy in China has shown unprecedented vigor. The stable political and economic environment provides a good investment opportunity for the foreign investors, which greatly attracts the businessmen in Singapore to make trade and investment in China. The confidence on investment in China has been built in the Singaporean. Hence, it is no doubt that China has become an ideal economic partnership of Singapore. On the other hand, China is lacking of funds and advanced technology in the economic construction. However, it possesses relatively cheap and abundant labor resources and cheap raw materials, rents and venues, which is an ideal place for Singapore’s merchandise exports and investment. That is, China is an ideal place for the plant investment and commodity output. In addition, due to the strong desire of both Chinese and Singapore government and business sector for cooperation, the economic complementary has greatly promoted the development of China and Singapore’s economic relationship in accordance with Yuanyuan (2013). China can learn
Globalization plays a massive part in my life as it does in everyone’s lives. Every day the world is getting smaller, between technological improvements and peoples interest in these technologies it is easy to see why this is happening. In this essay I have only shortly touch upon some of the places where globalization has affected my everyday life. From shopping as Asda to meeting people on the other side of the world to discuss my dissertation ideas globalization has had a positive affect on my life. The fact that I can walk down a street in Coleraine or Sydney and see similar shops and food outlets is a positive thing in how our lives are intertwined through out 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.