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21 Cards in this Set
- Front
- Back
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What are the three driving forces of globalisation?
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Developments in Transportation
Developments in Communication Trans-national Corporations |
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How are developments of transportation driving forces in globalisation? Two examples?
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Increase in speed and mobility with less time and cost
Containerisation: using standard-sized loading containers - maximum space to reduce time and cost. It is; simplify transfer from modes of transport as containers easy to transfer - orderly and efficient Efficient, integrated transport infrastructure (e.g. airports, seaports, highways) - goods and people moved easily |
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How are developments of communication driving forces in globalisation? (2 links) (2 examples, though not strictly this)
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(refers to stuff like internet, telephone, email, fax, video conferences)
Communication and information access faster and convenient: Increases spread of knowledge Allows TNCs to coordinate and control activities worldwide Examples: Satellite technology - near simultaneous messages received across the globe; optical fibers: large data-carrying capacity at high speeds |
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How are transnational corporations driving forces in globalisation? (1 e.g.)
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Causes worldwide economies to become integrated and co-dependent
Firms locate in different locations to source for new markets and find lower production costs (set up offices etc. around for cheaper costs/market) E.g. Boeing, an American country, sources for components worldwide |
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What are the economic impacts of globalisation? (2 positive, 1 negative)
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Positive:
Increased competition among nations Improvement in standard of living Negative: Widening income gap between rich and poor |
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How is increased competition among nations a positive impact of globalisation? (2)
(2 examples for one, one for another) |
Investment and market
TNCs seek out locations; governments compete to attract them Example: Sea and air ports: S'pore vs Malaysia - world's biggest container shopping line, Maersk Sealand, shifted hub to Mlysia as they are cheaper and more flexible. This puts M to forefront of transshipment business Example: China open to foreign investments due to low production costs - develop rapidly as attractive; strong competition to others - has a well-developed infrastructure like transport and industrial parks Dalian: well-developed infrastructure e.g. sea and airports, banks, financial institutions (foreign as well); foreign advantage: lowe tax rates, high-tech industrial park to encourage R&D Talent As people can move around in search of leisure and employment, the skilled are sought after. As the workforce has an opportunity to find employment in another country, brain drain results as advanced economies search for new talent pools. So emerging economies have to try and attract their skilled back. E.g. India: at |
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How is an improved standard of living a positive impact of globalisation?
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Globalisation = increase in income level as trade and foreign investment increase = more revenue
Foreign goods are available: increase in lifestyle choices = better life Revenue used by government to increase standard of living as well. |
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How is the widening income gap between the rich and the poor a negative impact of globalisation?
1. Within developed countries? 2. Developed countries vs. less developed countries? |
1. The rich are prosperous with better opportunities, while the poor and lowly-skilled are economically uncertain due to retrenchment. This causes social problems and hence an increase in tension.
2. LDCs are poor: trade restrictions, can't produce better quality goods than DCs due to low skill and so on. TNCs go here for labour-intensive and low value-added production, so working conditions are poor. DCs get richer due to their manufacturing industry dominance, and TNCs get much revenue from global trade. They also draw resources, people and investments from poor areas to them as it's more beneficial. |
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What are the social effects of globalisation? (one positive, one negative)
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Positive: Increased awareness of foreign culture - increase spread of info e.g. Internet allows convenient access to cultural information even at home
Negative: Loss of local culture Pop culture: forces culture on rest of the world, and youths lose interest in local culture Global brands: Creates a homogenous culture with identical outlets and a domination of markets |
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What are the environmental effects of globalisation?
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Environmental degradation
Environmental management |
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How is environmental degradation a negative effect of globalisation? (3 e.g.)
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Natural resources are destroyed in TNC factories; too concerned with profit and eager to reap globe's economic benefits, so LDCs lack resources for environmental regulations
Global warming: Movement of goods (tpt) produces greenhouse gases and factories also produce fumes. Consequences: increase in global temperatures Deforestation e.g.: Brazil (beef) and Indonesia (cash crops): rainforests cut down to develop industry, agriculture, housing, transport; the government allows this as economic activities increase revenue. Consequence: SEA haze Three Gorges Project (China): a hydroelectric dam, ensure flood control. Problems include erosion, extinction, water pollution and resettlement |
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How is environmental management a positive effect of globalisation?
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Advantages: Greater co-op between countries, and essential to promote economic growth.
With a well-preserved env, we can keep using resources to get income and maintain SoL E.g. Challenge to find sustained, alternative energy sources - dams costly, environment hazardous, geothermal doesn't work for those with no geothermal activity |
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How can Singapore maximise its opportunities and overcome challenges in a globalising world? (5)
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Diversify economy
Nurture growth of Small and Medium Enterprises Venturing abroad Expanding market reach through economic co-operation Managing resources efficiently |
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How does Singapore diversify its economy? (4 (3, 1 with two subpoints))
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Centre for tech-intensive, high value-added manufacturing activities e.g. in pharmaceuticals and chemical engineering. Attract TNCs to set up high value-added manufacturing activities e.g. Seagate (largest hard disk manufacturer)
Science: R&D and Life Science A*STAR: Agency for Science, Tech and Research -- IMCB, Institute of Molecular and Cell Biology (R&D) Regional hub for services like education and tourism - Education: Leading international university branches like Pennsyl, Chicago, Shanghai and Stanford setting up here Tourism: IR - no natural attractions; stiff competition: IRs strengthen position as choice tourist destination. Economic benefits: jobs created when developers invest |
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How does Singapore nurture the growth of SMEs?
Why are SMEs so important? Why can't SMEs compete with big corps? (3) How are they helped? (2) |
SMEs make up a large percent of business, and support TNCs by providing components.
They have less exposure and contacts with the external world. They are also limited by skills and experience: no expertise in using advanced technology, short of skilled professionals. Small domestic market due to insufficient capital Nurture: Association of SMEs '86: Seminars and workshops; new companies granted tax exemption on first 100k income for up to three years SG banks provide financial support to counteract funding probs due to size limitation |
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How does Singapore venture abroad? What are the benefits of regionalisation? (2)
Give two examples of venturing abroad (2) What is a potential disadvantage of venturing abroad? |
Regionalisation: getting a greater market by investing in nearby countries w/ land, low labour costs and new markets
Global investment ensures that economic growth is maintained even if one region is weakened. International industrial parks: Suzhou, international tech. park in India, joint SG-I venture, Viet-SG Ind. Park (Bangalore: location, manpower, government) Corporations: Singtel expands overseas while Akira caters to LDCs Regionalisation can lead to loss of talent |
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How does Singapore expand market reach through economic co-operation?
Two examples? |
Singapore forms trade ties with other countries due to its small domestic market (because of a small populatioon)
Special Economic Zones (SEZs): Geographic region in country with less stringent economic laws than the rest: Zones of rapid economic growth using tax and business incentives to attract foreign investors (e.g. S'pore-Indonesia) Free Trade Agreement: legally binding between 2+ countries to bring about close economic collaboration e.g. ASEAN, NZ, Japan, Australia, US, India, Jordan, RoK |
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In what ways does Singapore manage its resources efficiently? (3)
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Developing people
Attracting foreign talent Managing environment |
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How does Singapore manage its resources by developing people? (2)
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Promoting continuous learning among workforce
Workforce Development Agency ensures competitiveness by providing opportunities to enhance employability through skills upgrade - Employability skills System; Skills Development Fund Promoting local entrepreneurship and technopreneurship: amend bankruptcy laws; allow failed entrepreneurs to start business again; encourage people to take risks |
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How does Singapore manage its resources by attracting foreign talent?
Why? (2) How? (1) What is an effect of this, socially? |
To deal with declining birth rate; introduce new skills in a knowledge-based economy
Create business opportunities and jobs here Results in a more cosmopolitan society and adds diversity to cultural landscape |
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How does Singapore manage its resources by managing the environment? (3)
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Managing limited land resources
Singapore has only 680 km2 of land, besides the 40% of water catchment. Careful land-use planning must be carried out, building high-quality facilities to ensure a good quality of life and hence sustained growth. Co-operation with regional and int. organisations Kyoto Protocol to restrict ozone depleting substances; S'pore phased out CFCs in 1996 Helped Indonesia detect forest fires and haze via satellite (ASEAN) Public education - to adopt env-friendly ways; sense of responsibility and interest to keep the environment clean e.g. Clean and Green Week; Bring Your Own Bag Day |
