Set: Sustaining Economic Development In A Globalising World

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All 110 terms

TermDefinition
Globalisation's Driving ForcesDevelopments in transportation and communications and transnational corporations
Developments In TransportationEnables goods and people to move around the world easily
Developments In CommunicationsHas made communications among people in different locations faster and more convenient
Transnational CorporationsLarge global firms that operate in a number of countries and have production or service facilities outside the country of their origin
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Globalisation's ImpactEconomic, social and environmental
EconomicImprovement in standard of living, increased competition among nations and talent
Improvement In Standard of LivingThrough foreign investment, countries earn more revenue
Increased Competition Among NationsInvestment and market and talent
Investment And MarketGovernments compete with one another to attract these corporations to invest in their companies
TalentPeople who are highly skilled are in high demand
Widening Income Gap Between The Rich And PoorRapid development in developed countries but spread of poverty in many other countries. Rich in developed countries prosper due to better opportunities while the poor and lowly-skilled workers face economic uncertainties
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SocialIncreased awareness of foreign culture and loss of local culture
Increased Awareness of Foreign CulturePeople can learn about the history, culture and way of life of people aroung the world through travelling, surfing the Internet and watching foreign movies
Loss of Local CultureGlobal brands dominate the consumer market in developing countries and spread of pop culture have influenced the youths to lose interest in the local culture
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EnvironmentalEnvironmental degradation and environmental management
Environmental DegradationDeforestation and related problems and global warming
Deforestation And Related ProblemsRainforests and tress are being cleared at a rapid rate for economic purposes which have resulted to soil erosion and other problems
Global WarmingFactories and different modes of transportation emit an enrmous quantity of fumes
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Environmental ManagementIncrease in awareness of environmental management
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Singapore Globalisation's ExploitationsDiversifying the economy, nurturing growth of small and medium enterprises, venturing abroad, expanding market reach through economic cooperation and managing resources efficiently
Diversifying The EconomySingaporean aims to be a centre for technology-intensive, high value-added manufacturing activities and a regional hub for services such as education and tourism
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Nurturing Growth of Small And Medium EnterprisesMany schemes are in place to assist SMES and ASME was set up
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Venturing AbroadInvesting in nearby countries that have abundant land, lower labour costs and new markets
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Expanding Market Reach Through Economic CooperationSigning FTAs with other countries
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Managing Resources EfficientlyDeveloping people, attracting foreign talent and managing the environment
Developing PeoplePromoting local entrepreneurship and technopreneurship and promoting continuous learning among the workforce
Promoting Local Entrepreneurship And TechnopreneurshipAmending bankruptcy laws and giving recognition to outstanding local entrepreneurs
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Promoting Continuous Learning Among The WorkforceWDA creates opportunities for workers to enhance their employability through skills upgrading
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Attracting Foreign TalentN/A
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Managing The EnvironmentManaging limited land resources, cooperation with regional and international organisations and public education
Managing Limited Land ResourcesProper planning
Cooperation With Regional And International OrganisationsSingaporean has cooperated with ASEAN on environmental matters such as haze that has affected Singapore
Public EducationThere are programmes to educate the general public

Set Information

Terms 110
Creator Polto
Created October 12, 2009
Groups None
Subject Social Studies
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