Sec4 express chapter 2(sustaining economic devt in a globalising world_slideshare)
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Sec4 express chapter 2(sustaining economic devt in a globalising world_slideshare)






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Sec4 express chapter 2(sustaining economic devt in a globalising world_slideshare) Sec4 express chapter 2(sustaining economic devt in a globalising world_slideshare) Presentation Transcript

  • What is Globalization? Its driving forces and ImpactsSUSTAINING ECONOMIC DEVELOPMENT INA GLOBALISING WORLD
  • WHAT IS GLOBALIZATION? Warm-up Activity  Take a moment to find one item with you at the moment that is produced in Singapore?  Whatabout anything that you have at home? Anything made in Singapore?  Wasit difficult to find anything made and produced entirely from Singapore?
  • WHAT IS THE IMPACT OF GLOBALIZATION? Economic Impact  Divided into positive and negative effects
  • WHAT IS THE IMPACT OF GLOBALIZATION? Economic Impact  Improvement in the standard of living  As countries trade are open to foreign investment their citizens
  • POSITIVE EFFECTS NEGATIVE EFFECTS Improvement in standard of  Widening income gap living. between rich and poor  Open to FDIs then more rev  Increasing income gap as some governments lose out in  > Rev = more govt. spending the ability to attract TNCs and FDIs. Increased competition  These societies are therefore among nations for: poorer than developed  Investment and markets countries who have capitalised on the positive effects of  Talent (Global Talent) (see globalisation pg. 55)  Even within rich countries – gap between rich and poor is growing (see pg. 56)ECONOMIC IMPACT OF GLOBALIZATION
  • SOCIAL IMPACTS OF GLOBALIZATION Increased awareness of foreign culture  Cultures of the world were distinct and separate.  Before WWII – only way to know the culture was to live with them – Ethnography  Globalization – Internet has made it possible for people to be aware of distinct cultures.  Now let’s try this simple test…can you name the items that appear in the pictures and tell us which societies they come from?
  • POSITIVE EFFECTS NEGATIVE EFFECTS More awareness of foreign  Loss of culture cultures  With the world becoming “flatter” (Friedman) – so now brand names  Globalization has caused the are exported to other societies. world to “shrink” – more awareness of other cultures,  Starbucks & MacDonald’s - food and lifestyles. change in lifestyle that threatens local lifestyles  Before Globalization – people  Singapore – “Binge drinking”, needed to travel to foreign neighborhood shops vs. shopping places to learn culture and malls etc., taste food – now these are  Spread of “Pop Culture” found in one’s own country.  Local shows and music being threatened by MTV and InternetSOCIAL IMPACTS OF GLOBALIZATION
  • BUZZ BREAK Take a minute to consider why would loss of culture be negative for societies?  
  • POSITIVE EFFECTS NEGATIVE EFFECTS Environmental Management (i.e.  Environmental sustainable development): degradation  Sustainable development  Deforestation & related ensures economies will continue problems to grow if they protect the environment.  Global warming (see pg. 62  Increased govt. spending and research into alternative energy sources. S’pore: nuclear energy?  Not all earth’s resources distributed equally across nations…Nations must agree to share resources otherwise potential source of conflictsENVIRONMENTAL IMPACT OF GLOBALIZATION
  • SINGAPORE’S STRATEGIES As with all other countries, Singapore must develop strategies that:  maximize opportunities and  meet challenges of globalized world
  • SINGAPORE’S STRATEGIES 6 strategies…  Diversifyingthe economy  Nurturing Small and Medium Sized Enterprises  Venturing abroad  Economic cooperation with other countries  Managing Resources  Managing the Environment
  • SINGAPORE’S STRATEGIES Strat. 1: Diversify  Strat 2: Nurturing SMEs economy  S’pore has many schemes  S’pore exploring new areas of economic growth: to support the growth of SMEs.  R & D in Bio-medical sciences  Banks - loan schemes to  IT & Manufacturing hub SMEs  Regional hub for education and tourism.  Association of SMEs (ASME)  Developing many areas of the  training, seminars to economy reduces improve their capacity and dependence on single capabilities industry or sector.  If one slows down the other  Tax exemption for first sectors can register growth, $100,000 income for up to 3 years.
  • SINGAPORE’S STRATEGIES Strat 3: Venturing Abroad  Strat 4: Economic Cooperation with other countries  Singapore firms encouraged to set up  Signing more Free Trade business overseas. Agreements (FTA)s with other countries. Benefits:  The spread of investment across the world is to ensure that Singapore’s  Singaporeans enjoy more economic growth is maintained even if choice in goods and services markets and investment opportunities  Service standards will improve in one particular region are weakened. with increased competition  More S’poreans overseas – Problem:  Companies will be able to sell Are they rooted to Singapore? Would their goods in more countries they feel they have a stake in and increase their profits Singapore?  Local companies will find it easier to venture abroad.  Cooperated in Special Economic Zones (SEZ)s  Riau SEZ
  • SINGAPORE’S STRATEGIES Strat 5: Managing  Strat 6: Managing Resources… Environment  Developing People  Managing limited land  Promoting local entrepreneurship resources  Promoting continuous learning  e.g. Bukit Brown Cemetery vs. Road Infrastructure development.  Attracting Foreign Talent  Declining birth rate and new skills  Cooperation with regional and needed for Knowledge based international organizations economy (KBE).  Draw foreign talent here to work  Public education about and share expertise environmental issues  Besides paper qualifications – must attract those with specialised skills (chefs, craftsmen and artisans)
  • LESSON RECAP What are some of the driving forces of globalization? What are the 6 strategies Singapore has adopted in meeting the challenges and maximising the opportunities of a globalised world?