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Monday, March 17, 2008
Social Studies CA2
The following are three measures that Singapore is using to overcome challenges and optimize opportunities in a globalizing world:
-Diversify the economy
-Nurture growth of small and medium enterprises
-Expand market reach through economic cooperation
Which do you think is the most important measure? Explain your answer.
I think that expanding market reach through economic cooperation measure to overcome challenges and optimize opportunities in a globalizing world.
I feel that to nurture the growth of Small and Medium Enterprises (SMEs) is less important. Nurturing the growth of SMEs is meant that there are associations which will be helping them if they are short of capital. It is set up to help the smaller corporations which needed help. Bank Loans will also be available to them if they needed more capital to survive on.
The other factor, to diversify the economy, also makes me fell that it is less important. The government has been hoping to increase the number of tourists and thus they are building the Integrated Resort (IR) so that there will be more tourists. For example, Hong Kong has built a Disneyland and that attracts a lot of foreigners to visit their countries. This is so that they earn more revenue. They would also have more technologies so as to prove that they are more competitive as the other countries.
Whereas, I think that to expand market reach through economic cooperation is the most important factor. There is a legal agreement which is between countries so that they are able to transport goods. This is called the Free Trade Agreement (FTA). This can let the Singaporeans to buy foreign products at a more reasonable price. The government will also be able to earn more revenues so that they can build more industries.
Therefore, Expanding market reach through economic cooperation is the most important one because if there are no revenue being earned. The government will not have sufficient funds to build more industries or places of interest in Singapore so as to attract tourists. Without enough revenue, the country will not have enough funds to help the smaller enterprises so that they can survive. This also means that the other two factors will not be possible if they don’t have enough money which is related to expanding the market reach through economic cooperation.
XIUHUI
@ 5:45 AM
