Singapore Turns Independent

8/8/2019 Singapore Turns Independent

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SingaporeTurns

Independent



Application

How are the concepts of scarcity, choice and opportunity costrelevant to what you have just done?



Application

Problem faced by the Island of

Singapore :

Scarcity



Application

Resources are limited :

8 buildings

10 km of roads

5 km of expressways



Application

Wants are many :

Worship

Education

Trade

Housing

Recreation

Transport



Application

Problem of Scarcity :

Not enough resources for infrastructural

development i.e. buildings & roads.

Choice :

Need to allocate resources among

competing uses for the satisfaction of consumers' wants.

Choose between alternatives.



Application

Opportunity Cost :

Cost of something attained in terms of

next best alternative foregone.

Goal :

Choose that particular assortment of

routes with the objective of gaining thehighest level of satisfaction at the least

possible cost.



Application

How ? :

Economic method - to weigh the costs

and benefits of each alternatives and to

choose the one that gives the greatest

net benefit Cost of something attained in

terms of next best alternative foregone.



Application Ranking :

Deciding which criteria is more important / less

important depends on values of society value judgement (normative economics)

Ranking and choice depend on various factors:

Degree of dependence on international trade

Structure of the economy - is it more dependent

on primary goods, manufactured goods or tourism?

Population density



But don·t be stuckin the past«



33%

Commerce

Others27%

Fin Services

4%Biz Services

7%

Tpt & Comms

14%

Construction3%

Manufacturing12%

2003 GDP

S$159 b

1960 GDPS$ 2.1 b

Economic Transformation

O 20%

Transport &

Communications, 11%

Wholesale & Retail

Trade, 13%Manufacturing, 26%

Financial Services, 12%

Business Services,

13%



From the labour-intensive 60s«



1960s 2000s1980s

Labour Intensive

apital Intensive

Technology Intensive

KnowledgeIntensive

IndustrySophistication

Value-Added

Skills Intensive

1970s 1990s

Economic Transformation



Transport

Engineering

Electronics

hemicals

Biomedical

MANUFA TU ING

Supply- hain Mgmt

Healthcare Services

HQ Business Services

Financial Services

Engrg Env ServicesEducation Services

SE VI ES

Twin Pillars of GrowthTwin Pillars of Growth



S*BIO

Biomedical Sciences

± Eli Lilly & Novartis: Corporate R&D Centres

± 6 of the World¶s Top Pharma companies manufacturing in Singapore

±Top talents include Sydney Brenner, Alan Colman, Edison Liu, Yoshiaki Ito

ProductProcess

Development

Basic linicalesearch

Marketing

Full-scaleManufacturing

HealthcareDelivery

egionalHQ



Chemicals

JU NG ISLAND: Integrated World lass hemicals Hub

70 Manufacturing Plants

US$12 Billion of Investments

Singapore EDB

il Gas PetrochemicalsSpecialty

hemicals

Whole Value hain in Singapore

3rd Largest efining and Petrochemicals entre in the World



Electronics

>30 of world HDD output

>55% of world server-HDD output

34 I Design 18 Assembly Test

Key Semiconductor luster in Asia

13 Wafer Fabs

Hard Disk Drive apital of the World



World¶s #1 inJack-up il igs

Largest AviationM entre in

Asia

Largest LNGVessel epairer

in Asia utside of

Japan

Transport Engineering

Design, Build epair HubDesign, Build epair Hub



100,000 more full-time

international students

100,000 more corporateexecutives

Education Services

SingaporeSingapore ±±The GlobalThe Global

SchoolhouseSchoolhouse



60% of 7,000 foreign companies have HQ activities1/3 of Fortune & Global 500 have substantial HQ activities

HQ & Business Services

BiomedicalSciences

LogisticsTransport

Engineering Services

etail/ estaurants

InfocommsMedia

ElectronicsPrecision Engrg

hemicals

Hospitality



Regional Logistics enter

Managed by aterpillar Logistics

Supply-Chain Management World¶s Busiest ontainer Port World¶s Best Airport

entre for Procurement, Logistics and Distribution

Expanded storage capacities in Singapore

Asia PartsDistribution entre

Managed by



Infocomms & Media Hub

DigitalAnimation

Game Development

ontent reation

Business ontinuity entres

19 International Broadcasters Here

Data entres

Singapore Turns Independent

Documents

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