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Driving Forces
                                  Impact
Case Study : Singapore and her Strategies
What is Globalization?
 Interconnectedness
 Integration
Key Driving Forces
   Transportation
     Shrink the world
     Jet aircraft, containerisation
     Faster access to the world
   Communications
     Telephone, emails, fax, msgs, optical fibre
      systems, internet
     Speed
     Coordination convenience
Key Driving Forces
   TNCs ( Transnational Corporations)
     Microsoft Corporation, Toyota Motors
     In different parts of the world
      ○ Lower cost of production
      ○ New markets
      ○ Ease of resources
Possible SEQs:
 To what extent are TNCs a key driving
  force in integrating the economies of the
  world? Explain your answer.
 Which of these do you think is the most
  significant force in driving Singapore
  towards a globalized economy? Explain
  your answer.
     Advancement in technology
     Advancement in transportation
     Operations of the TNCs
Impact of Globalization
   +ve
     Improved standard of living
      ○ Increased income level – more investment,
        more revenue, better infrastructures
      ○ Yr 2000 - $4940 (ave household income)
      ○ Yr 2005 - $5400 (ave household income)
     Variety of foreign goods
     Better quality of life
Impact of Globalisation
   +ve
     Increased competition among nations
      ○ To attract TNCs/ MNCs
        Eg China (Suzhou, Wuxi, Dalian developed industrial
         infrastructures to attract foreign investors)
        City of Dalian (see pg. 52)
        Singapore vs Msia ports (see pg. 53)
        Bangkok vs HK vs Singapore airport (see pg. 53)
Impact of Globalisation
   +ve
     Talent
      ○ Opportunity and talents move around the
        world
      ○ Ease brain drain issues
Impact of Globalisation
   +ve
     Increased awareness of foreign culture
      ○ Learn about history, culture, way of living
      ○ Travelling, surfing the internet, films
Impact of Globalisation
   +ve
     Awareness of environmental management
      ○ Alternative energy (wind, solar, geothermal)
         Eg. The Three Gorges Project ( hyrdro electric
          power)
     Importance of sustaining energy
      ○ Conservation projects
Impact of Globalisation
   -ve
     Widening income gap
      ○ Poor becomes poorer, rich becomes richer
Impact of Globalisation
   -ve
     Loss of local culture
      ○ Foreign/ global brands dominate market
      ○ Homogeneous culture around the world
           Starbucks, Macdonalds
      ○ Spread of pop culture – youths lose interest in
          local culture
Impact of Globalisation
   -ve
     Environmental degradation (deforestation/
     global warming/ flooding/ erosion/ haze)
      ○ Greenhouse gases emitted from planes and ships
      ○ More factories = more pollution
      ○ More uses and exploitation of natural resources to
          gain profit (see pg. 59)
           Eg. Devastation of Amazon rainforest (58.7 million
            hectares in 2000)
           Eg. Clearing of rainforests by small-scale farmers to
            plant cash crops/ by developers to build factories and
            transport facilities
           Eg. The Three Gorges project
      ○ Lack of environmental regulations
Case Study: Singapore
   Strategies
     Diversify the economy – “spread the eggs”
      ○ Centre of technology-intensive, high value
        added manufacturing activities, life sciences,
        pharmaceuticals products
         A*STAR for R & D
         IMCB for biomedical advancement
         SARS detection test kit
      ○ Regional hub for education and tourism
         More global brand universities
         IR as tourist attraction
Case Study: Singapore
   Strategies
     Nurture SMEs as a regional manufacturing
     hub ( Polar Café, Bread Talk, Qianhu
     ○ Provide employment
     ○ Support TNCs activities – banks, ASME, tax
       exemptions
Case Study: Singapore
   Venturing abroad
     Regionalisation
      ○ Abundant land, lower labor cost, new market,
        supportive govt
      ○ Cooperation btw Singapore “soft” ware;
        foreign “hard”ware
         Suzhou Industrial Park, China
         The International Tech Park, India (Bangalore)
         Singtel Group (casting its net far and wide)
      ○ Relocation of Singaporeans (work and
        education)
Case Study: Singapore
   Expanding market reach through economic
    cooperation
     Free Trade Agreements (FTA)
      ○ More choices in goods & svcs
      ○ Improved standards due to competition
      ○ Cost savings – tax exemption
      ○ Bigger market outreach
      ○ Ease to venture abroad
     SEZs (Special Economic Zones)
      ○ Tax and business incentives
      ○ Singapore and Indonesia (Batam, Bintan,
        Karimun)
Case Study: Singapore
   Managing resources efficiently
     Developing people
      ○ Entrepreneurship/ technopreneurship
           New products for competition
           Credit risk
           Continuous learning (WDA)
           Financial assistance for upgrading of skills
      ○ Foreign Talents
         Create business opportunities
         Create employment
         Fill up vacancies
         Diversify skills
Case Study: Singapore
   Managing resources efficiently
     Managing the environment
      ○ Land use – 680sq km with limitations
      ○ High standard facilities – houses,
        transportation, commerce, defense, education
         Eg. Downtown Marina Bay – financial hub
         Eg. Jurong Island – chemical hub (reclaimed) JTC
      ○ Nature sites
         Preservation of natural habitats
         Waste disposal areas in P. Semakau, incineration
          plants in Ulu Pandan, Tuas, Senoko
Case Study: Singapore
   Managing resources efficiently
     Cooperation with regional and international
      organizations
      ○ ASEAN – haze management (ASEAN Ministerial
        Meeting)
      ○ International – restricts the use of ozone depleting
        substances (CFC)
     Public Education
      ○ Sense of responsibility
      ○ General education in schools – recycling, wste
        management, Clean and Green Week, workshops,
        reduce use of plastic bags

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Sustaining economic development in a globalizing world

  • 1. Driving Forces Impact Case Study : Singapore and her Strategies
  • 2. What is Globalization?  Interconnectedness  Integration
  • 3. Key Driving Forces  Transportation  Shrink the world  Jet aircraft, containerisation  Faster access to the world  Communications  Telephone, emails, fax, msgs, optical fibre systems, internet  Speed  Coordination convenience
  • 4. Key Driving Forces  TNCs ( Transnational Corporations)  Microsoft Corporation, Toyota Motors  In different parts of the world ○ Lower cost of production ○ New markets ○ Ease of resources
  • 5. Possible SEQs:  To what extent are TNCs a key driving force in integrating the economies of the world? Explain your answer.  Which of these do you think is the most significant force in driving Singapore towards a globalized economy? Explain your answer.  Advancement in technology  Advancement in transportation  Operations of the TNCs
  • 6. Impact of Globalization  +ve  Improved standard of living ○ Increased income level – more investment, more revenue, better infrastructures ○ Yr 2000 - $4940 (ave household income) ○ Yr 2005 - $5400 (ave household income)  Variety of foreign goods  Better quality of life
  • 7. Impact of Globalisation  +ve  Increased competition among nations ○ To attract TNCs/ MNCs  Eg China (Suzhou, Wuxi, Dalian developed industrial infrastructures to attract foreign investors)  City of Dalian (see pg. 52)  Singapore vs Msia ports (see pg. 53)  Bangkok vs HK vs Singapore airport (see pg. 53)
  • 8. Impact of Globalisation  +ve  Talent ○ Opportunity and talents move around the world ○ Ease brain drain issues
  • 9. Impact of Globalisation  +ve  Increased awareness of foreign culture ○ Learn about history, culture, way of living ○ Travelling, surfing the internet, films
  • 10. Impact of Globalisation  +ve  Awareness of environmental management ○ Alternative energy (wind, solar, geothermal)  Eg. The Three Gorges Project ( hyrdro electric power)  Importance of sustaining energy ○ Conservation projects
  • 11. Impact of Globalisation  -ve  Widening income gap ○ Poor becomes poorer, rich becomes richer
  • 12. Impact of Globalisation  -ve  Loss of local culture ○ Foreign/ global brands dominate market ○ Homogeneous culture around the world  Starbucks, Macdonalds ○ Spread of pop culture – youths lose interest in local culture
  • 13. Impact of Globalisation  -ve  Environmental degradation (deforestation/ global warming/ flooding/ erosion/ haze) ○ Greenhouse gases emitted from planes and ships ○ More factories = more pollution ○ More uses and exploitation of natural resources to gain profit (see pg. 59)  Eg. Devastation of Amazon rainforest (58.7 million hectares in 2000)  Eg. Clearing of rainforests by small-scale farmers to plant cash crops/ by developers to build factories and transport facilities  Eg. The Three Gorges project ○ Lack of environmental regulations
  • 14. Case Study: Singapore  Strategies  Diversify the economy – “spread the eggs” ○ Centre of technology-intensive, high value added manufacturing activities, life sciences, pharmaceuticals products  A*STAR for R & D  IMCB for biomedical advancement  SARS detection test kit ○ Regional hub for education and tourism  More global brand universities  IR as tourist attraction
  • 15. Case Study: Singapore  Strategies  Nurture SMEs as a regional manufacturing hub ( Polar Café, Bread Talk, Qianhu ○ Provide employment ○ Support TNCs activities – banks, ASME, tax exemptions
  • 16. Case Study: Singapore  Venturing abroad  Regionalisation ○ Abundant land, lower labor cost, new market, supportive govt ○ Cooperation btw Singapore “soft” ware; foreign “hard”ware  Suzhou Industrial Park, China  The International Tech Park, India (Bangalore)  Singtel Group (casting its net far and wide) ○ Relocation of Singaporeans (work and education)
  • 17. Case Study: Singapore  Expanding market reach through economic cooperation  Free Trade Agreements (FTA) ○ More choices in goods & svcs ○ Improved standards due to competition ○ Cost savings – tax exemption ○ Bigger market outreach ○ Ease to venture abroad  SEZs (Special Economic Zones) ○ Tax and business incentives ○ Singapore and Indonesia (Batam, Bintan, Karimun)
  • 18. Case Study: Singapore  Managing resources efficiently  Developing people ○ Entrepreneurship/ technopreneurship  New products for competition  Credit risk  Continuous learning (WDA)  Financial assistance for upgrading of skills ○ Foreign Talents  Create business opportunities  Create employment  Fill up vacancies  Diversify skills
  • 19. Case Study: Singapore  Managing resources efficiently  Managing the environment ○ Land use – 680sq km with limitations ○ High standard facilities – houses, transportation, commerce, defense, education  Eg. Downtown Marina Bay – financial hub  Eg. Jurong Island – chemical hub (reclaimed) JTC ○ Nature sites  Preservation of natural habitats  Waste disposal areas in P. Semakau, incineration plants in Ulu Pandan, Tuas, Senoko
  • 20. Case Study: Singapore  Managing resources efficiently  Cooperation with regional and international organizations ○ ASEAN – haze management (ASEAN Ministerial Meeting) ○ International – restricts the use of ozone depleting substances (CFC)  Public Education ○ Sense of responsibility ○ General education in schools – recycling, wste management, Clean and Green Week, workshops, reduce use of plastic bags