The document discusses drivers of globalization such as developments in transportation and communications technology which have made the world smaller and allowed faster transfer of information. It also discusses the impacts of globalization including increased economic competition and standards of living but also social impacts like loss of local culture and environmental impacts like degradation. It then provides a case study of strategies adopted by Singapore to sustain economic development in a globalizing world such as diversifying its economy, nurturing small businesses, expanding its market through economic cooperation, and managing its environment and resources.
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