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What is Benefits of Globalization for Singapore about?

Singapore should partially move away from its export-driven growth strategy in response to the global financial crisis. While exports should still be encouraged, Singapore needs to (1) increase domestic consumption and investment to make the economy less dependent on external factors and (2) diversify its export markets beyond the US to reduce vulnerability to shocks from any single country. However, a complete shift away from exports is not feasible or desirable given Singapore

Author

Martin Huang

Language

EN