• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

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

Extracts from this document...

Introduction

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. ...read more.

Middle

Globalization may also have a adverse impact on Singapore's economy, as with globalization there is most likely industrial development brining along an improvement in people's standard of living, thus people will demand for higher pay and foreign investors leave for less developed countries with lower cost productions. b) Globalization will have an adverse effect on manufacturing employment, which will be mainly felt by blue-collared workers. As globalization develops and Singapore continues its industrial development, it will focus more on information-base industries and R&D thus less emphasis will be placed on manufacturing and also mechanization will enable good to be produced more efficient, these may lead to a decrease in need of blue collared worker and thus a higher unemployment rate. Also technology-driven shift in labor demand away from less skilled workers and toward more skilled workers because of the sharing of information through globalization. ...read more.

Conclusion

will gain from freer trade, the majority of the lower-skilled workers will most probably lose out, as they fail to cope with the rapid changes in technology and skills requirements. Another case of inequity will be between the wealthier who has access to the Internet and poorer people who do not even have access to the basic computer. In other words, the social inequality will be aggravated in the new global age if Singapore intends to globalize and carve a niche in the Information Technology market. This may also his lead to a societal divide, which can take various forms. For example, the individual level; on the family unit level where parents complain that they can't catch up with what the kids learn, using experienced by most blue-collared workers and some white collared worker. There may also be a possibility of ethnic division in Singapore's multiracial society when certain ethnic groups are lagging behind in the digital know-how, i.e. more blue-collared workers. * ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & 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 GCSE Economy & Economics essays

  1. Evaluate the impact of Nike's outsourcing strategy and factory location on the host nation

    the world Nike only owns approximately nine factories as the firm mainly outsources production of their products to factories owned and operated by contractors in other countries. The countries Nike outsources to are largely developing countries. These include; Vietnam which produces a million pairs of Nikes every month, China and

  2. The Downside of Globalization

    Forrester Research estimates that 3.3 million white collar jobs will move overseas by 2015". (Drezner). IBM's announcement that it plans to outsource 3,000 jobs overseas this year (Drezner) seems to be just the start to shifting jobs offshore not only in the manufacturer sector but also in hi-tech competitive ones.

  1. Mexico’s Financial Crisis.

    The banking crisis was almost multi-dimensional. There was the expansion of credit followed by improper management of this newfound freedom of credit extension and then there were the accounting discrepancies that hid the problems ensuing. A mouthful, but we shall get a little bit more in-depth.

  2. Discuss the socio-economic impacts of globalization on Singapore.

    The Singapore government also actively encourage MNCs to locate their regional headquarters in Singapore by providing tax concessions. This provides MNCs with assistance in setting up their business. Singapore also is working towards becoming not only a regional business hub but also an International Business Hub.

  1. Liberalization: where it has lead us and where it is headed

    And what are the prospects for economic growth in India? Below are thoughts on my personal perspective of that issue. My perspective on India and investing is not all positive, but it is an effort to tell the truth as I see it.

  2. Sports manufacturers

    Industry Trends: In the past, Nike has been unable to keep up with changes in the industry. According to a report concerning Nike's weaknesses, the corporation was one of the last athletic footwear companies to move into e-commerce and was late recognizing other trends in the market.

  1. Discuss the role Singapore can play in helping her ASEAN neighbours develop their economies, ...

    Moreover the growing size of value-added industry with regards to oil refinery and oil-based products like cosmetics ensures a stable growing demand for Brunei. This helps to consolidate and boost the Brunei oil industry, especially since Brunei's main GDP contributor is from the oil industry and this sector is the second biggest employer after the government.

  2. Should a new runway be built at Leeds-Bradford?

    If built, the new runway would have to be situated on areas of green belt land that is not only detrimental to the landscape but also disturbs local wildlife and plant horticulture. In addition to this the number of people affected by noise pollution above a certain level could increase consequently the public would be affected adversely.

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