TheSuccessofSingapor e2006

Information about TheSuccessofSingapor e2006

Published on March 27, 2008

Author: Breezy

Source: authorstream.com

Content

The Success of Singapore:  The Success of Singapore Slide2:  Over a lengthy period of time, 4 countries in East and SE Asia have had the highest rates of economic growth in the world. These are: Hong Kong South Korea Taiwan Singapore Slide3:  These countries are called Newly Industrialised Countries (or NICs) and they are perfect examples of countries that have benefited from the introduction of a new industry. Slide4:  With a new industry comes economic growth and with that improvements in many other facets of society. This process is called: The Multiplier Effect Some Examples::  Some Examples: GNP per capita (PPP) Singapore’s GDP per capita increased by 8.3% between 1965 and 1980, then by 7.8% between 1980 and 1995 Some Examples:  Some Examples Life expectancy: South Korea 1960: 54 years 1997: 72 years Some examples:  Some examples Infant mortality South Korea 1960: 85/1000 1997: 6/1000 Slide9:  Compare that to a non NIC like….. Chad :  Chad Slide11:  http://unimaps.com/chad/position.gif Slide12:  Chad has not been successful in establishing a new industry. Slide13:  1960 Chad : GDP per capita ($PPP 785) South Korea: GDP per capita ($PPP 690) South Korea establishes a new industry, Chad does not…. 1997 Chad : GDP per capita ($PPP 970) South Korea: GDP per capita ($PPP 13 590) What happened to Chad?:  What happened to Chad? http://tomgreen.com/uploads/lg_18254754534467cadb87f21.jpg Slide15:  Possibly lacks the knowledge needed to implement the multiplier effect, but more probably due to corrupt leadership. Slide16:  Simply put, if knowledge and wealth are mismanaged, development is impossible. Back to Singapore…. Slide17:  Singapore’s located at the foot of Malaysia, in the heart of SE Asia and possesses very few natural resources. Slide18:  So…. here’s a nation-state, in the middle of one of the poorest regions on the planet unable to draw on any natural resources, simply because it has none. A recipe for disaster, right? Slide19:  Right. But Singapore realised that to survive it needed to do two things: 1.Create an industry that was unparalleled anywhere else in the world. Thanks to a new industry the country is able to succeed. Slide20:  2. Understand that, like a struggling rural settlement, it could only be sustainable if it recognised the 3 crucial elements of a community: Slide21:  economic ecological social A New Industry:  A New Industry Singapore has been through the multiplier effect 3 times over because it has adopted 3 different industries at 3 different times. Each time it adopts a new industry it goes through a new Industrial Revolution. Industrial Revolution 1:  Industrial Revolution 1 Import Substituting Industrialisation Aimed at supplying its domestic market with goods and services in order to reduce its dependence on imported goods. “If we grow our own food and make our own clothes we don’t have to buy them from the shop.” Slide24:  But what if a neighbouring country can make the product cheaper than we can? How do we protect our industry? Slide25:  Impose tariffs (import taxes) on anything imported. Slide26:  While the idea was good it could only support the country for a limited time before it had to find another industry. Slide27:  Other countries were exporting goods, Singapore couldn’t compete against the low wages so it needed to find an export industry that was unique in the area. Industrial Revolution 2:  Industrial Revolution 2 So it created a value-added industry (high order goods and services) such as: airlines, airports and port services, ship repairs and financial services Slide29:  However, during the 1980s Singapore’s economy began to slow down and it needed to find a new industry. What could it do on limited land that would not compete with poorer nations nearby? What type of industry would be completely unique in the region? Industrial Revolution 3:  Industrial Revolution 3 To become a regional hub for Finance Communications Travel And… Slide31:  To create a labour force that was far more skilled in those areas than almost any other nation in the world. Slide32:  The idea was to use those people to manage the industry and tap into the cheaper labour force in surrounding countries and use land from neighbouring countries So Singapore has been successful economically. What about socially and ecologically?:  So Singapore has been successful economically. What about socially and ecologically? ecological social

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