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Word Count: 759
Over the past half-century Globalisation has been imminent throughout the world Globalisation can be defined as the movement of mainly economic activity around the world within a borderless marketplace In other words the economies of countries are becoming increasingly integrated with one-another and influences on one country will cause dramatic ripple effects on others Globalisation brings both positive and negative effects One country in which the positives of globalisation have far outweighed the negatives is Singapore Without the global market an economy that is substantially export-orientated such as Singapore would not be able to function The global market plays a vital role in the economic development strategies that Singapore implements Globalisation plays a major role in the concerns all over the world and this is clearly shown in Singapore Singapore is a small densely populated country situated in South-east Asia The country boasts one of the most open trade-oriented economies on the earth and has world class financial and elaborately - transferred manufacturing ETM sectors Singapore is home to over 6000 Trans-national corporations TNCs making it a haven for international investors Foreign direct investment from abroad TNCs has led to Singapores robust international surplus and this strong inflow of income has let Singapore achieve a GDP per capita of US 36000 one of the highest in the world even higher than a large number of western economies Singapores vital export base consists of mainly manufacturing services financial advisory etc and electronicIT sectors Singapore is a substantial international creditor into China and other parts of Asia thus other countries seem to have a sense of dependency on Singapore for loans This poses a financial risk for the country but it also demonstrates that Singaporeans have a healthy entrepreneurial ability All of these excellent statistics from Singapore are advantages brought about by an increasingly globalised world However globalisation brings negative impacts also Singapore is a country that has benefited from globalisation immensely But the country also has
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