The way that globalization has most affected Singapore is through the development of free trade. By connecting the world together, globalization created a world where consumers compete at an “immediate information” level, giving them the ability to influence the market right from their desks. Globalization also created more accessible and safe ways to transport goods. This enabled Singapore, a small country with little natural resources, to find new opportunities to grow and prosper. Thus, allowing Singapore to skyrocket to a staggering GDP per capita of $60.500, ranking 6th in the world (Index Mundi, 2012) and rank 1st in trade (“The Globalization Index”, 2007).
Globalization also has allowed Singapore to develop technologically. So much so, that Singapore ranks 1st in Asia and 3rd globally in technological innovation (“Global Innovation Index”, 2012). Technology can be seen in all aspects of life in Singapore from health to entertainment to even education. One such example is CREATE or Campus for Research Excellence and Technological Enterprise, an international research campus and... [continues]
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