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3.8 Being Part of a Globalised World (Advances in Technology (It has also…
3.8 Being Part of a Globalised World
Developments in transportation
Improvements made in the size and speed of transportation modes enabled
more goods and people to be carried per trip
.
This
saves money
used for transportation costs.
This facilitates the process through which
people become interconnected
.
Singapore is recognised as one of the world's leading transportation hubs.
140 000 vessels arrive per year and Singapore is connected to more than 600 ports in over 120 countries.
More than 130 000 vehicles cross the causeway between Singapore and Malaysia daily.
Changi airport served 320 cities in 80 countries and territories, with 6700 flights per week.
Growth of Multinational Corporations (MNCs)
MNCs are businesses with economic activities in
more than one country
.
Their operations drive
economic interconnectedness
.
Local MNCs: Singapore Airlines & Singtel
Foreign MNCs provide
employment, higher wages and new technology and expertise as well as the exchange of new ideas
.
This allows Singapore to
stay competitive
.
They themselves also benefit from
Singapore's pro-business environment
.
Foreign MNCs: Roche
Advances in Technology
This has facilitated
the communication and exchange of information across the world
.
With 2.2 billion users worldwide, smartphones offer users internet at their fingertips and instantaneous access to information. This increases the pace of globalisation by increasing interconnections between ideas and activities of people in different parts of the world, developing interdependent relationships across the world between local and global developments.
It has also made it convenient for people to
communicate anytime anywhere
.
Gmail
Facebook