Why is Singapore attractive as a location for new factories owned by foreign companies.

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Discuss the socio-economic impacts of globalization on Singapore in the perspectives of:

a) a) White collared workers

b) b) Blue collared workers (10 m)

a) Powered by advances in telecommunications, transportation and finance, globalization empowers consumers to purchase the best the world has to offer and gives producers the tools to find buyers anywhere. This will mostly benefit the white collared workers more as they will have the spending power to take advantage of this.

Technology will also be effected in a positive way, in that, by the more internationalized the world economy is, the more use producers will get out of different production processes and other invented processes available in other countries. The faster diffusion of knowledge will raise the level of goods produced as well as advance technology in a worldwide prospective. With technology more widespread, Singapore will be able to make positive advancements, increasing the economy, and in turn, helping and increasing the national economy. With globalization, comes global competition, this would thus cause us to strive for improvement, thus our economies will move forward.

Singapore will benefit when lower transport costs and reduced tariffs make goods produced