Economics Of Singapore Essay examples

For an economy other than Australia, explain how government development strategies have responded to the process of globalisation.

(Mcarthur, 2011) The Fall Of Singapore

What is the effect on the equilibrium price and equilibrium quantity of orange juice if the price of apple juice decreases and the wage rate paid to orange grove workers increases?

level of economic development : Singapore have highly attractive to investment climate because one of the factor is so important that is Singapore has stable political environment

The future of the economy is still going strong but one has not seen the great strides in advancement, as was the case from 1983 to 1993(economy). "Per capita personal income for the Nation is projected to increase 1.2 percent per year in 1993-2005, compared with a 1.4 percent increase per year in 1983-93. The growth rate slows as a result of the relationship between personal

It is also easy for many other companies to set up headquarter in Singapore as their starting point in Asia to make it possible to reach to its market point. In addition, Singapore is unique in different lifestyles and culture. It is also known for its capability of attracting sizable foreign investment, pro-business environment and entrepreneurs. Singapore focuses more on a knowledge based economy which can be seen in its education sysem. Furthermore, Singapore is located in the heart of Asia and it plays an important role in international

There were two major happenings that temporarily effected Singapore’s economy between 2001 and 2003—the worldwide electronics slump and the outbreak of Severe Acute Respiratory Syndrome (SARS). Both times, growth bounced back, by world demand for electronics, pharmaceuticals, other manufactured goods, and financial services. The return was mostly contributed to by the economies of its major trading partners—the United States, the European Union, Japan, and China, as well as expanding emerging markets such as India (Bureau of East Asian and Pacific Affairs, 2010). The next

In 2008, the economy is expected to weaken slightly. As the US is coping with its economic problems, with the possibility of oil prices increasing, if the US goes into a serious recession, this will definitely affect the Asian region and Singapore will be greatly affected. If the US was to suffer a serious recession in its economy, it will most likely drag “Singapore’s GDP growth in the upper half if the 4.5-6.5 per cent forecast range” This situation will be clearer in the first quarter of 2008.

|To what extent does the Singapore Government’s policies on housing and immigration, help to increase the demand of the private |

However, the development of Singapore’s society cannot be predicated on pure economics alone. Even though globalization has enabled Singapore to fare well in economic development, however, termed the perils of success, globalization has brought about undesirable

Singapore is an island that lies just off the southern tip of the Malay Peninsula between the South China Sea and the Indian Ocean. Its strategic location on major sea lanes has provided the country with an economic importance in Southeast Asia. Singapore is often considered as a base for global enterprises looking to expand into Asia and Asian enterprises looking for global connectivity. Located at the heart of Asia, Singapore is sitting at the centre of business opportunities. Having the four key attributes - Trust, Knowledge, Connected and Life, Singapore is being positioned as an ideal city to Work, Live and Play. Singapore was ranked first in Mercer’s Quality of Living Survey 2009.

How might the Singapore society differ were it not for these technologies – would the society be more or less heavily regulated? Lee recommends analysing politics and society by addressing how power struggles and relations were played out in the pre-Internet era, namely the maintenance of political control via public support (2005: 74). Foucault defines ‘governmentality’ as the point of contact where the technologies of power interact with the governed. This spurs Lee to postulate that, in order to retain power in the Internet era, 'governments need to be actively involved in shaping the design as well as the societal, cultural and regulatory environment in which the Internet and other new media technologies operate' (2005: 75).

Founded as a British trading colony in 1819, Singapore later joined the Malaysian Federation in 1963, but separated two years later and became independent. Over the years, Singapore has grown its international trading links becoming one of the most prosperous countries. Singapore has been compared to the leading nations of Western Europe when it comes to its per capita gross domestic product (GDP). Singapore has one of the world’s busiest ports when comparing most tonnage handled. After officially gaining sovereignty in 1965, the People’s Action Party (PAP) has dominated Singapore’s politics. With a large amount of government-controlled companies in the local economy, and its powerful position, Singapore’s government has maintained a clean, corruption-free image. With their dealings with communists during the early years the PAP’s governing philosophy is best described as a Socialist Democracy. Maintained by the paternal guidance of the PAP, came Economic growth and political stability. Even though bureaucrats not politicians administer Singapore, meritocracy is power, which is gained through performance, skill, and loyalty to the policies of the nation. The Constitution of Singapore is the Supreme law. With the constitution for the three organs of the state (Executive, the Legislative, and the Judiciary), It lays down the fundamental principles and framework for them to operate.. The only way the constitution can be amended is with the approval of more than two-thirds of

This is a far cry from the undeveloped Singapore about forty-five years ago who just gain its independence and most of its citizens are still living in Kampung. Thus, we can imply that it is the wise and visionary government of Singapore that bring this little dot in the world map into the global playing field of first world countries. The success of policies and stimulus package that are implemented by its government does not only bring economic development but also bring faith to its people. Consequently, the taxpayers will view paying of taxes as a form of contribution to improve one’s life and country as the ultimate objective and so most will still continue to pay taxes.

In terms acceleration of economic growth is based on the measurement of GDP, MALAYSIA HAS recorded a growth of 5.1% last year. Although it is lower than 7.2% in 2010, but it was so roaring in the context of a difficult global economic environment and uncertainty. In contrast, global economic growth has dropped from 5.2% in 2010 to 3.8% in 2011 while the economy of the developed countries like USA, Germany, UK, France and Japan also recorded weak growth of respectively 1.5%, 2.7%, 1.1 %, 1.7% and -0.5% in the same year; far lower than Malaysia's achievements. Following a satisfactory GDP growth was assisted by the Federal government revenue increased by RM13.2 billion in 2011 through increased collection of IRB estimate of RM109.7 billion compared with RM96.5 billion the government has managed to reduce its fiscal deficit to 5.0% compared projection of 5.4%. This means that the GOVERNMENT has successfully steered the nation's economy as well as the control and management of public funds wisely in the past 3 years in a row when managed to bring down the fiscal deficit from 7.0% in 2009 to 5.6% (2010) and 5.0% in the past year in a expanding economy.