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Singapore And Globalization Essay

680 words - 3 pages

Upon independence, Singapore had a workforce consisting of three million people and a huge proportion of them were unemployed. More than two-thirds of the city state’s population was living in slums and squatter settlements. It lacked natural resources, sanitation, proper infrastructure and adequate water supply. Then, former prime minister Lee Kuan Yew tried to seek for international assistance but it was to no avail, leaving Singapore to bootstrap itself out of its adverse situation. Learning from Israel’s ability and success to by pass its Arab neighbours who boycotted them and trade with Europe and America, Singapore knew that we have to connect with the developed world and convince ...view middle of the document...

Consequently, since we are unable to eliminate the process of globalisation considering that the economy still needs to grow, the Singapore government should not ignore these problems. They should instead come up with better policies to tackle them. For the following points that I am going to bring up, I will first talk about the economic benefits that lead to a higher standard of living and how it creates better opportunities for local entrepreneurs to venture overseas. Also, I will elaborate on how it has provided a platform that aid multiculturalism, thus creating a cosmopolitan state. Then, I would talk about the negative impacts and implications that globalisation have led to. These include the corrosion of national identity, creation of an inter-dependent world that is economically vulnerable, and causing the loss of traditional values and cultures.
First and foremost, with the help of globalisation, Singapore will be able to enjoy many of its economic benefits which will lead to a higher standard of living. Globalised countries often enjoy an increase in income levels because they open their...

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