The Effect of the Global Village on Singapore

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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.

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