Describe Both the Positive and Negative Impacts of Globalization to Singapore Essay

There are many definitions for globalization. With the rapid development of technical inventions and increasing economic bonding, most tend to regard ’’globalization’’ as a non-border platform, where the exchange of goods, resources, and information in all aspects take places vigorously in the present world. Apart from those materials, the movement of people also becomes frequent when the connection to every corner in the globe has been built up via advanced technology. In general, globalization not only breaks the obstacles of communication but also provides more profitable markets, which indicate a path to affluence. Without any doubt, every country tries to formulate and implement the suitable policies in order to utilize the advantages offered from globalization. Singapore is no exception. However, this unstoppable phenomenon can also be considered a double-edged sword. It could either improve or deteriorate the basic social issues. In terms of the education in Singapore, globalization indeed equips the students with strong competitiveness and international view. Since English become the language mainly used around the world, the government has started promoting English-learning environment in order to structure the track linking to the international stage. And it is proved afterwards that this strategy has successfully brought out the positive impact of globalization in Singapore. The evidence is that more and more famous universities from the West are drawn to establish branch campuses in Singapore. For instance, Duke-NUS Graduate Medical School Singapore was founded in 2000 and Imperical College London-Nanyang Technological University was set up later on in 2010. These two premium schools provide opportunity and professional instruction in medical area. College of Medicine in NUS is no longer the only option for those who are keen to be a doctor. The students in Singapore are given diverse chances but equally well-trained. Meanwhile, the influx of foreign educational system not only pours in fresh energy but also opens a window for students to look further and widely. As for the country, the limited resources are expanded to nurture more elites, which is beneficial in a long-term. The structure of workforce is also changed as globalization sets in. Importing foreign workers has become one of government’s policies in attempt to maintain competitive labor. The foreign labor can be described as well-paid workers. The benefits that attach to the introduction of foreign workers are showed as advanced idea, skills, and experiences constantly flow into industries. Local workers can also gain international expertise and strengthened the capability via global network. Muti-National Corporations in Singapore render local employees workshops to further technical knowledge and personal development, and even send them abroad to other international branches. In this way, a steadfast foundation has been transplanted into Singapore’s workforce. Despite of all undeniable advantages of globalization, still, some downsides gradually slip into the society. For those at the bottom of social scale and unskilled worker, it becomes harder to survive in the society. With weak competitiveness, they are left far behind while Singapore’s economy as a whole places an impressive record in recent years. In other words, the rich becomes richer and the poor becomes poorer. It is a sign revealing a crisis of M-Form Society. Middle class gradually disappears and remain two extremes in the society, poverty and affluence. Government also takes on the risk of investment in foreign companies. The investment takes large cost at very beginning and might not return profit in the immediate term. Subsequently, economic restructuring and uncertainty will accompany with the investment. On the other hand, as a result of global linked economy, the nation becomes more fragile. When ‘’September 11th terrorist attack’’ afflicted the economy leader, USA, it contributed to a domino effect around the world. Singapore also suffered from economic recession due to the close business partnership with USA. Some companies were forced to close or decided to lay off a part of employees. The fast rise of unemployment rate bombarded the society at that period of time. Nowadays, the world has been inevitably encountering the impacts of globalization although they are not fully positive. Government should weigh both advantages and disadvantages in order to find the balance in between. Therefore, the max benefits could be shared in society and minimize the potential problems derived from globalization.