1) External events like the Industrial Revolution, opening of the Suez Canal, developments in Asia, World War I, and the Great Depression significantly impacted Singapore's economy and society. 2) The Industrial Revolution increased trade and improved communications with Britain, bringing Singapore closer to the rest of the world. The opening of the Suez Canal reduced shipping costs and increased the speed and volume of trade. 3) Events like World War I, the opening of China to trade, and the spread of the tin and rubber industries in Malaya boosted Singapore's strategic importance and economy. However, the Great Depression had severe negative effects as trade declined and unemployment rose significantly.