Topics: Globalization, Globalization Index, Multinational corporation Pages: 3 (1280 words) Published: January 11, 2013
Globalization has brought much benefits, and negatives. Its need for manpower is now much more than what institutions can provide (Thangavelu, 2010). This article examines the positives and negatives that globalisation brings, so as to benefit from it, and discusses how the welfare of the workforce is not compromise, because of it. Singapore’s GDP is among the highest in the world due to Foreign Direct Investment from multinational corporations (MNCs) driving it (see Appendix 1) (Liew and Mah, 2012). This illustrates the importance of globalization to Singapore. Local talents, namely Jek Tan and Justin Quek, are utilizing globalisation to springboard their cooking talents abroad (MOF, 2007). Such acts bring repute to Singapore and encourage the need to train local talents to be globally competitive. From a western perspective, more jobs are created to developing countries evidenced by Canada outsourcing jobs to India and China (CBC, 2006). But it is detrimental to Canadians too, as previously they belonged to them. Globalisation have advanced cultural sharing and expertise, evidenced by people all over the world being treated by western medicine, and westerners producing Asian-style martial arts movies and practicing yoga, originating from India (Kulkarni, 2012). Karl Marx's forecast of monetary issues being priority over kinship is most apparent in Singapore (Reed, 2006). The competition for market dominance among organisations is more intense now (Gillespie, Jeannet and Hennessey, 2010). More time is spent improving the organisation then on family relations, thus neglecting kinship and producing off springs. Foreign influx is thus required to preserve economic growth The influx allows local employers more choices for workers now. This leads to Singaporean employees having decreasing average earnings as employers are unwilling to pay a higher salary (Goh, 2010). Organisations are now relying more of foreign workers as a result. Older workers in Singapore are...

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Appendix 1 – The Globalisation Index 2011 (Source: Ernst & Young, 2012)
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