• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13

Explain how the choice of Singapore as the location of an East India Company trading outpost was more of circumstance than of design. Would you say that also about the subsequent growth of the outpost as one of the Straits Settlements?

Extracts from this document...

Introduction

EC2202 Global Economic Dimensions of Singapore Essay Topic 1 Semester 2, 2003/2004 Ng Sui Lin Marie U010602J Art10602@nus.edu.sg DW9, Mon 12-1pm Explain how the choice of Singapore as the location of an East India Company trading outpost was more of circumstance than of design. Would you say that also about the subsequent growth of the outpost as one of the Straits Settlements? Introduction In the 21st century, Singapore is an economically stable and vibrant country, and it is one of a global player today. There is certainty a good number of factors behind the rapid growth of Singapore as it has emerged from a sleepy small fishing port to a global center in less than two centuries after founded as a trading outpost of the East India Company (EIC) in 1819. However, to understand the present, we must look at our past. We have to explore the reason of why Singapore was chosen by the East India Company as their trading outpost, and not other neighboring countries in the same region. In the first part of this paper, we are going to discuss if the choice of Singapore as an East India Company trading outpost was more of circumstance than of design. In the second half, we will continue our discussion if the subsequent growth of Singapore is also more of circumstance than of design. Why the formation of EIC? The East India Company, EIC was set up in 31 December 1600 by the British Merchants who received a royal charter from Queen Elizabeth I. Under this charter, EIC has granted a monopoly of trade between England and all places lying between the Cape of Good Hope and Cape Horn. As this is a royal charter, it forbids other parties other than EIC to enter into trade. The EIC set up 'factories' in India, headquartered in Calcutta. The reason being Calcutta is at the middle of a basin where the river enters the sea and accessible to both land and sea trade. ...read more.

Middle

The London authorities disowned all the activities by local British officials to try to counter the Dutch and secure some British footholds along the sea routes to China. This is so as London wanted to trade in peace with the Dutch. Circumstance than of design Stamford Raffles did eventually win the support of the Governor-General, Lord Hastings, for his objectives of keeping the sea-lanes to China and the Archipelago trade open. Hastings revived the old scheme of securing a free passage of the Straits of Malacca, while leaving implicitly to the Dutch the command of the Sunda Straits. Raffles was instructed to try again to conclude a treaty with Acheh (at the north of Sumatra), and to secure 'the establishment of a station beyond Malacca, such as may command the southern entrance of those Straits'. Riau, once again was the priority site, about which both Raffles and Hastings agreed. If Riau could not be secured, Raffles will try for another site within the Johore Empire. At Acheh, Raffles succeeded, but he was forestalled in Riau, and, finally, in January 1819, landed on Singapore after finding the Kerimun Islands, at the southern end of the Straits, and Siak, on the east coast of Sumatra, not suitable. Raffles traveled about a week from Britain's naval station at Penang to Singapore. As Raffles understood the Malay language, he had read in the Malay Annals and knew about the suitability of the water in Singapore. Therefore, the choice of Singapore as a British settlement was more the outcome of circumstance than design due to the numerous factors that lead to it. Growth of the outpost The subsequent growth of the settlement is more of design than of circumstance. One week after the founding of Singapore by Raffles, he signed a treaty on the 6 February 1819 with Tengku Long, a claimant in a succession dispute whom Raffles invited from Riau and recognize as Sultan Hussein of Johore. ...read more.

Conclusion

Many Chinese immigrants, called sinkheh, bonded themselves to work for a fixed period for their employers who had paid for their cost of passage to Singapore, a system of indentured labor that smacked of slavery but significantly helped to populate Singapore with hard-working and enterprising Chinese. Chinese traders found it profitable to move to Singapore from other places. Other than Chinese immigrants, Indians and Indonesians also migrated from their country to Singapore. The technological change in the 19th century such as the use of steamships and the opening of the Suez Canal in 1869 also contributed to Singapore's growth. With steamships, despite improvements in technology, it will still require frequent replenishing of coal and fresh water. Hence, the set up of a stretch of coal-depots along the Suez route was feasible. The new route made the Straits of Malacca even more important than the Sunda Straits. Singapore eventually became another coal-depot, thus acquiring a new strategic and economic significance in the trade between Europe and the Pacific. It was Singapore's good fortune to lie on the natural routes of both sailing and steam vessels. In 1870, Singapore was linked by telegraphic communication with the main industrial nations of the west. With that, goods can be bought and sold while in transit across the oceans, resulting in larger volume of business with the same capital. The Anglo-Dutch Treaty of 1824 returned Malacca returned to the British, which ran Penang, Malacca and Singapore as one administrative unit from Calcutta. The capital of the Straits Settlements transferred from Penang to Singapore in 1836, although still subject to the British government of India.1858, the EIC was abolished by an Act of the British Parliament. From 1867 onwards, an India Office ran India but the Straits Settlements was transferred to the Colonial Office in London. Clearly, all the above factors contributed more or less to the economic development of Singapore. Therefore, the subsequent growth of the outpost was more of design than of circumstance. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level UK, European & Global Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level UK, European & Global Economics essays

  1. Why has GDP growth been so slow in Somalia?

    Somalia is also ineligible for trade benefits under the African Growth and Opportunity Act (AGOA)55. The Act authorizes countries as eligible to receive the benefits of AGOA if they are determined to have established, or are making continual progress toward establishing, the following: market-based economies; the rule of law and political pluralism; elimination of barriers to U.S.

  2. Where does the World Trade Organisation fit in the overall scheme of international public ...

    Nevertheless, they have clarified procedural issues and brought about a better understanding of the legal texts. In addition, the process may have marginally improved the medium-term prospects for net liberalisation, in contrast to GATS commitments at the end of the Uruguay Round, which mostly did not go beyond the status quo in national policies.

  1. Will trading fairly reduce world poverty?

    The historical events of colonisation are one that stretches around the globe and across time. From the sixteenth century and onwards, the leaders of the western countries of Europe believed it was their right to try to conquer and rule the other parts of the world and form empires.

  2. Unemployment HSC Notes

    Australian born residents: 4% compared to 5% of people born outside Australia. Historical/Recent Unemployment Trends in Australia In the past thirty years, the unemployment rate has been a constant challenge for the Australian economy. Since the onset of the 20th century until the depression in 1930s, the unemployment rate ranged from 3-6%.

  1. Outline the debate about whether 'export-led growth' is better or worse than 'import substituting ...

    Was import substitution industrialisation inherently flawed or did it simply outlive its usefulness as domestic and international conditions changed? What is clear from this analysis is that although East Asian economies have been more successful in terms of economic growth and industrialisation than Latin American ones, there is less difference

  2. Infation HSC Notes

    Causes of Inflation Demand-Pull Inflation * When aggregate demand exceeds the productive capacity of the economy, prices rise as output cannot expand any further in the short term * Consumers force prices up by bidding against each other for the limited amount of goods and services * Hence consumers are

  1. Distribution of Income and Wealth HSC Notes

    Similarly income levels decline as people get older due to a dependence on other forms of retirement income. * The distribution of wealth follows a similar pattern to income, rising for most of their lifetime, and then falling in the 60-64 years group as people retire.

  2. Carbon Credit Trading

    BSR and Ecosystem Marketplace (2008). Offsetting Emissions: A Business Brief on the Voluntary Carbon Market [Electronic Version]. Second Edition: Feb 2008. The Issues The Carbon Market Regulations on emission levels will play a key role in altering business decisions in the future.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work