economic impacts of globalisation on singapore

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Slide 1:

ECONOMIC IMPACTS OF GLOBALISATION IN SINGAPORE

Slide 2:

IMPACTS POSITIVE NEGATIVE

Slide 3:

Economic impact of globalization on Singapore. Positive Enhances development through trade and expansion of industries Increment of retirement age due to aging population

Slide 4:

Negative Rise in China and India as competitors 2. Brain drain Economic impact of globalization on Singapore.

Slide 5:

POSITIVE IMPACTS

Slide 6:

Economic impact of globalization on Singapore. Positive Enhances development through trade and expansion of industries Increment of retirement age due to aging population

Slide 7:

Singapore has little of its own resources It imports cheap raw materials from the periphery country! AHA!!

Slide 8:

Production cost is now lowered!

Slide 9:

AS curve shifts downwards and rightwards. Therefore, income is increased. The economy of Singapore thus increases . → GPL decrease from P 0 to P 1 → national income rises from Y 1 to Y 2 .

Slide 10:

Globalization Development in Singapore Attracts workers from the periphery countries Increase in employment and population

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There is an increase in demand for goods and services within Singapore as there are more people living and working here.

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Aggregate demand for goods increases Rightward shift of AD curve Singapore starts expanding existing industries and more new businesses are established.

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The productive capacity increases, supplying more goods and services. Increase in work labour and industries and businesses rightward shift of the AS curve.

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→ national income rises from Y 1 to Y 2 . Therefore, income is increased. The economy of Singapore thus increases . → increase in the productive capacity from Y 1 to Y 2 . → GPL decreased from P 0 to P 1

Slide 15:

Economic impact of globalization on Singapore. Positive Enhances development through trade and expansion of industries Increment of retirement age due to aging population

Slide 16:

Ageing population in Singapore is increasing The government increased the retirement age to 65 Increased labour force.

Slide 17:

→ national income of increases from Y1 to Y2 . Therefore, income is increased. The economy of Singapore thus increases. → increases in productive capacity. → GPL decreased from P1 to P2

Slide 18:

NEGATIVE IMPACTS

Slide 19:

Economic impact of globalization on Singapore. Negative Rise in China and India as competitors 2. Brain drain

Slide 20:

Rent and labour costs are cheap in India and China Attracts more investments from multinational companies Becomes a manufacturing port Other countries would preferably import from india or china Therefore, Singapore’s exports decreases

Slide 21:

Singapore’s productive capacity decreases → fall in AS from AS 0 to AS 1 → fall in AD from AD 0 to AD 1 RNI falls from Y 0 to Y 1 . Therefore, income is decreased. The economy of Singapore thus decreases .

Slide 22:

Economic impact of globalization on Singapore. Negative Rise in China and India as competitors 2. Brain drain

Slide 23:

Globalisation Highly-talented people who are in demand around the globe can move to different countries to search for better employment opportunities Singaporeans may leave the country Brain Drain!

Slide 24:

Singapore’s productive capacity decreases RNI falls from Y 0 to Y 1 . Therefore, income is decreased. The economy of Singapore thus decreases . → fall in AS from AS 0 to AS 1 → GPL rises from P 0 to P 1