Analyze Globalizations Impact on Singapores Development.

â€Å"A developed country is one that allows all its citizens to enjoy a free and healthy life in a safe environment.† These are the wise words of Kofi Annan, former Secretary-General of the United Nations. Thus, there are a set of tangible criteria to help determine the development of a country, of which economic criteria tend to dominate, with indicators such as the Gross Domestic Product (GDP) as well as other social and security needs of the people, with the recent Human Development Index (HDI) which measures overall well-being of the people. So, with the recent phenomenon of globalization becoming ever more widespread in our society today, there is no doubt that it has impacts, both positive and negative, on the development of Singapore as†¦show more content†¦This will boost the economy of Singapore as when more companies are willing to invest in Singapore, especially due to our strengths like competitive workforce and strategic location, it will result in great er influx of capital. It will also result in a creation of jobs for the people, boosting employment rate and generating revenue for both the country and the individual. Take for instance, the chip used in the latest PlayStation3 and Xbox. A French semiconductor company, Soitec, is investing $700 million to set up in Singapore its first offshore facility to make the wafer for this chip. The wafers involve alternating layers of silicon and insulator, unlike conventional wafers which use silicon throughout. Soitec is coming here because its technology has to be well-protected, and we are the only country in Asia that they trust well enough to set up their first manufacturing campus outside of France. Thus, positive development is a sure thing with globalization. Furthermore, since in the modern day context, money is a key indicator of happiness, thus, Singapore’s development can be mirrored by the happiness of the people with their monetary needs fulfilled. However, the development of Singapore’s society cannot be predicated on pure economics alone. Even though globalization has enabled Singapore to fare well in economic development, however, termed the perils of success, globalization has brought about undesirableShow MoreRelatedDubais Political and Economic Development: Essay38738 Words   |  155 PagesDUBAIS POLITICAL AND ECONOMIC DEVELOPMENT: AN OASIS TN THE DESERT? by CHRISTOPHER DeNICOLA A thesis submitted in partial fulfillment of the requirements for the Degree of Bachelor of Arts with Honors in Political Science WILLIAMS COLLEGE Williamstown, Massachusetts MAY 10,2005 Table of Contents I Persian Gulf Development Literature Oil Curse Literature Arab and Islamic Factors Regional Ovemiew and Historical Background Dubais Development History I1 PI1 Explaining