Current phase of economic growth in singapore nitin raj

Current phase of economic growth in singapore nitin raj CURRENT PHASE OF ECONOMIC GROWTH IN SINGAPORE NITIN RAJ Introduction The international economy has experienced fundamental changes during last two or so decades. Economic activity is becoming not only more internationalised but also meaningfully, it is becoming globalised in a world of complexity, interconnectedness and mobility. Today we live in a rapidly changing and increasing competitive world of globalisation. This report is brief analysis about the economic growth of Singapore (republic of Singapore) and stumble of it while recession. Singapore, an island in southern Asia is highly acclaimed global market friendly economy, major contribution of which is manufacturing of electronics. Being one of the busiest ports it is the fourth largest economy foreign exchange centre. This report will play particular attention to: Evaluation of current phase of economic growth in Singapore. Factors contributing current phase of growth/contraction in economy. Discussion on some methods of managing the economy by the Government. Singapore has successful free market economy with strong market economy with strong service and manufacturing sectors. It has one of the highest per capita gross domestic product in the world. Singapores location on major sea lanes and its industrious population have made important hub for south-east Asia region. Singapores small population, external market dependency and suppliers have pushed it towards economic openness free trade and free markets. Effective government policies have been key reason in Singapores historically strong economic performance. Singapores economic growth To know about GDP, first we have to know that what this term actually is, GDP is gross domestic product, which means, The total value of goods and services produced within a countrys borders during a fixed period, usually one year, obtained by adding the value contributed by each sector of the economy .you can think of it as the size of the economy. EVOLUTION OF ECONOMY OVER LAST TWENTY YEARS Figure 1 (Source: International monetary fund- 2009 world economic outlook) TABLE 1 YEAR GDP PER CAPITA % CHANGE 1989 15621.62 10.86% 1990 17044.27 9.11% 1991 18277.45 7.24% 1992 19308.1 5.64% 1993 21486.89 11.28% 1994 23735.75 10.47% 1995 25421.68 7.10% 1996 26811.78 5.47% 1997 28585.21 6.61% 1998 27557.65 -3.59% 1999 29738.55 7.91% 2000 32864.45 10.51% 2001 31936.05 -2.82% 2002 33478.7 4.83% 2003 36016.97 7.58% 2004 40179.48 11.56% 2005 43754.29 8.90% 2006 47444.57 8.43% 2007 50447.62 6.33% 2008 51226.03 1.54% 2009 49433.48 -3.50% Singaporean GDP is at a good state as of late. Its per capita GDP is among highest in world. There has been a steady rate of growth in last five financial years. GDP in year2003 2.02 % 2004 1.10% 20058.10% 20066.40% 20077.90% 20087.50% The Gross Domestic Product (GDP) in Singapore reduced at an annual rate of 2.80% in the last quarter of December 2009. Singapore Gross Domestic Product is worth 182 billion dollars or 0.29% of the world economy, as per the reports of World Bank. Unemployment Rates The unemployment rate in Singapore was 2.10 percent in December of 2009. Country Interest Rate Growth Rate Inflation Rate Jobless Rate Current Account Exchange Rate Singapore 0.02% -2.80% 0.20% 2.10% 8324 1.4018 Year Mar Jun Sep Dec 2009 3.30 3.30 3.40 2.10 2008 1.90 2.20 2.30 2.50 2007 2.80 2.30 1.70 1.70 Singapore has enjoyed virtually full employment for long periods of time. In tandem with the global economic crisis and the economys contraction, unemployment as of end-June 2009 rose to 3.3% and resident unemployment reached 4.6%. The inflation rate in Singapore was 0.20 percent in January of 2010 Country Interest Rate Growth Rate Inflation Rate Jobless Rate Current Account Exchange Rate Singapore 0.02% -2.80% 0.20% 2.10% 8324 1.4018 Year Jan Mar Jun Sep Dec 2010 0.20 2009 4.30 2.60 0.00 -0.50 -0.50 2008 6.60 6.70 7.50 6.70 5.50 2007 -0.60 0.20 1.70 3.00 3.70 Business cycle The five stages of the business cycle are growth, peak, recession, trough and recovery. In starting year of Singapores economy, its growing with faster rate and from year 2003 up to 5 years it reaches to peak, and after some years it starts declining and now it is in trough stage, now it should try some new methods to grow up, and recover its economic level. Factors contributing current phase of economy are as follows Contraction: Recession: Singapore is the first Asian economy to enter in recession. Recession is directly phasing to unemployment, it increased 3% in year 2009. Singapores economy is heavily dependent on export activities and its going down up to 18% International trade is also going down to 3.2% Causes for economic development of Singapore: A foremost reason is increasing demand of electronic products all over the world. The construction sector is also helping the economy to grow and survive in the market. It expands its hands up to 16.4% Government strategies and tactics are also playing crucial role in economic development for this south East Asian country. We can conclude that in some sector economy gets into contraction and the main factor which helped in contraction is recession. Due to recession tourism industry effected, unemployment increased, and its export also got down. In some sector, still some growth is there, like demand for electronic products, pharmaceuticals, educational sector all helped Singapore to grow lot. But in current phase Singapore is going in contraction, in almost every sector of economy. Flow of income The terms circular flow of income refer to an economic model which explains the reciprocal circulation of income in between producers and consumers. The methods to manage the economy are: First method is to reduce the unemployment rate as in December 2009 the unemployment rate is 2.10% and due to high worldwide recession it is continuously increasing. Due to unemployment, tourism sector is being effected, and also the service sector as people are jobless. Government is trying to match the perfect level of employment, as in 2010 worlds first youth Olympic is going to be held in Singapore, so tourism sector will b get effected by this, Singapore government is opening two large base royal casinos to attract tourism, this can also help in reducing unemployment. Second method can be price cut, as 60% firms in Singapore are owned by government, so it can cut the prices, by cutting down its manufacturing cost, the cost has to be reduced in recovery stage, then it can use new techniques which can help in reducing wastage, government should reduce taxes also on some products like medicines, education, tourism sector, communication sector, all this will help to get recover from recession stage. Public sector debt : Debt is the total amount of money that a country (or company) owes. In January 2010, there was net borrowing of  £4.3 billion, which compares with net borrowing of - £5.3 billion (net lending) in January 2009. The PBR forecast for 2009/10 is net borrowing of  £178 billion. Public sector net debt, expressed as a percentage of gross domestic product (GDP), was 59.9 per cent at the end of January 2010 compared with 50.0 per cent at end of January 2009. Net debt was  £848.5 billion at the end of January compared with  £708.0 billion a year earlier. Public sector deficit: Deficit is in simple words expenditure over revenue, a situation in which liabilities exceed assets, expenditures exceed income, imports exceed exports, or losses exceed profits. Singapore recorded a general government deficit of S$4054 Million in Jan/10 that is of 14% of GDP as compared to previous period S$4017 million .Due to worldwide recession Singapore also has to bear this public sector deficit. Significance of these figures: Government borrows loan and money for the sake of people only, it want to increase the production by cutting taxes , want to reduce unemployment and start new projects so that people can get jobs. By starting new projects government wants to increase the standard of living of people, and their purchasing power. Conclusion Singaporeone of the four tigers of Asia (others are Honkong, Taiwan and South Korea) has a highly developed and successful open-market economy. Few years back it had a GDP higher than that of most developed countries. Its economy recovered by 2006 from the global recession in 2001 but again the GDP of Singapore economy declined and its a prediction by various economist it will decrease at a rate of 2.8% in year 2010, but some predictions say just opposite of it as per promises done by the government it will increase at rate of 3 to 5 percent and according, as far as I studied about Singapores economy, it is now in a trough stage of business cycle, that is fourth stage, now its time for recovery, the last stage of business cycle, so it has to grow up now, by cutting prices or by reducing unemployment rate. Tourism in Singapore has also a vital role. After a big loss it has started growing smoothly. Worlds first youth Olympic game is going to be held in Singapore; hopefully it will promote the tourism sector. Employment will also groom this year. Two casinos are also going to start this year, which can help it in increasing tourism,. The global recession seems to coming at its end so the European countries and United States will soon regain their importing capabilities which will help Singapore to re establish its development back again. Singapore had suffered a lot. Till last year they worked on saving jobs. Now as the market conditions have improved job qualities are taken into consideration. Improvement in world business, rise of Singapore manufacturing, export, tourism, government commitment has shown good signs and it is believed that this small island will soon achieve its lost growth.

An unsuccessful learning experience

My unsuccessful learning experience was when I was 16 and starting my Maths A level. We had 2 teachers who split the course material between them, one taking pure maths and the other applied maths. The teacher in charge of the pure maths, which had enjoyed up to A level and received an A for (in the days before A* existed, so top marks in other words), was a young man who had just qualified from his PGCE and came to teach us A level maths.The main problem wasn't the teacher's age, I'm sure plenty of young teachers are very capable, the issue was more that he didn't have the self confidence to stand up to the more lively characters in the class. He didn't know how to respond when a pupil would try and disrupt the class by talking about something irrelevant, like last nights television, therefore that pupil would carry on talking and valuable lesson time would be wasted. Even when he did ask people to be quiet a fair amount of disruption had already been made.The other issue was that h e didn't know his subject, in this case pure maths, well enough. I remember clearly one day the entire class followed him working out a complicated equation, writing down his calculations as we went along. After using up two blackboards worth of calculations he came to his answer, only for one of the pupils to check the answers in the back of out text book and announce it was the wrong answer. By then he had erased half of his calculation and he couldn't go back to see where he had made a mistake.It wasn't the only time his calculations were wrong or he was unsure of his subject, which made the pupils very nervous. The short term result was that my class was time-tabled extra maths lessons to try to cover for this teacher's lack of covering his subject, with the other maths teacher working longer lesson hours to try to get us through the exam. The longer term result was that the Pure maths results for that year were far lower than expected and the teacher was moved down to teaching 11-12 year olds maths.

Choosing Writeplacer Essay Topics Is Simple

Choosing Writeplacer Essay Topics Is Simple Sure, with this kind of a big number of topics to pick from, picking just one may be challenging. Identifying an issue and proposing one or more solutions ought to be a vital aspect in your essay. Since you can see, a lot of the topics listed are new and tackle the present issues happening in the World today. So here's ways to land on an acceptable topic. You won't be requested to write about a particular topic so much as you'll be requested to respond to a particular scenario. Still, figuring out the ideal topic for your essay isn't your only concern for a student. What to Do About Writeplacer Essay Topics Before You Miss Your Chance Of all Of the great college essay topics, no topic was selected. If you're authentic, nobody can write the very same essay as you! You don't need to find super technical with legal argumentative essays, but don't forget to do your homework on what the present laws about your preferred topic actually say. There are several persuasive essay topics to pick from to finish your high school or college assignment. Writeplacer Success essay guide teaches you all you want to understand in order to be successful with your essay. So without further ado, here are a few effective writing tips to create your common app essay stick out! Whatever college essay topic you select or are assigned, the secret is to compose a great stand-out essay. When you imitate the job written by somebody else and move it as your individual it's generally referred to as plagiarism. You have to make sure that you're very interested in the topic before it's possible to persuade others about it. There are many things a person could gain from community services. Most students have a tendency to go for easy essay topics by talking about themselves, doing their very best to express their exclusive qualities and trying to stick out from the remainder of the pack. The college essay is among the most essential charact eristics of your college application. A college essay topic may or might not be freely dependent on the student based on the course and the professor. By doing things locally, the student would have to interact with many distinct individuals. Therefore, it's an important portion of preparing a student for adulthood and needs to be included in their high school graduation requirements. A Secret Weapon for Writeplacer Essay Topics It's important to select debatable argumentative essay topics as you need opposing points that you could counter to your own points. All things considered, you can observe that writing a persuasive essay isn't a brain surgery. The WritePlacer essay is the written part of the ACCUPLACER test and it's intended to rate your capacity to construct effective, informative work. Application essays about challenges reveal how you respond to difficulty to individuals who are rather interested in how you'll handle the subsequent four years by yourself. Choosing Writeplacer Essay Topics Even though it took lots of writing, it was a pretty straightforward procedure. Occasionally it is few teachers and at times it is a good deal in the auditorium. In the very first part, students are requested to rewrite some of a sentence by picking the most suitable option out of four available alternatives. Writeplacer Essay Topics - What Is It? Set your objective first, then produce a means to write it in an intriguing manner for your readers to relish. Your unique ideas and opinions in the paper has to be supported with arguments. In the majority of cases, you want to think of a topic which will enable other people to understand your viewpoint, and telling them to think that what you write is true. The cost of an essay is dependent upon the total amount of effort the writer has to exert. There must be unity and coherence among the examples which you use in your essay. At exactly the same time, it's an excellent persuasive essay idea. The id eal way to do so is to keep the period of the presentation short. Writeplacer Essay Topics Can Be Fun for Everyone You first have to determine the reason behind your essay, before you are able to write persuasive content about it. Next, you must consider the method on how you need to relay it to your readers. Always make sure that the reader will understand why you're moving from 1 paragraph to the next paragraph! Always ensure that your reader will get a comprehension of your reason behind moving about from a single section to a different paragraph!

Analysis Of Bias In Carvers Cathedral By Raymond Carver

The notion of possessing an intrinsic bias is introduced in Raymond Carver’s Cathedral. He highlights how perception can affect the way people interact and communicate with each other for the first time. In the short story, the narrator himself is blind to the emotions of the people around him and eschews any form of self-reflection until the very end. He is envious of the blind man, who shares an intimate relationship with the narrator’s wife. However, the blind man is depicted as insightful and personal. Carver discloses in Cathedral that Robert, the blind man, and the narrator’s wife had been exchanging audiotapes for years, sharing their experiences and difficulties with one another. My goal is to transform the foundation of the†¦show more content†¦Truly brisk down there, I had no idea†¦ It was my first time. Speaking of firsts, I had quite the time visiting you and tasting those numbers your husband continued to put in my hand. It was wonderful to truly hear your voice again. Your husband, now, an interesting bub†¦ I can tell you that. I will not lie, I was uncertain about meeting your husband for the first time. After all that I heard from you, I concluded that we would not be as compatible as you and I, for example. But I thought about it. Like that English actor... do you know who James Mason is? In an interview, he once asked himself â€Å"How do I wish to be remembered, if at all?† There was no reason for me to distance myself from the lad; if he is important to you, the least I can do is promote the most comfortable atmosphere for us all. I owe you that. I knew so much about him walking into your lives. I knew the way he makes you laugh, why you fell in love with him, and how he has hurt you. Now I heard his voice for the first time. The first word he said to me was â€Å"Likewise.† It was one of those responses you use when you yourself are at a loss of words. I expected no less. The fellow was one of reserve, I can tell. You tell me that you both never go to bed at the same time. Always separate. When Beulah was alive, I made it a point that we always did the importantShow MoreRelatedThe Theme Of Blindness In Raymond Carvers Cathedral745 Words   |  3 PagesIn Raymond Carver’s â€Å"Cathedral† the narrator is seen to show ignorance and bias towards blindness throughout the story, however towards the end he realizes his flaws and the difference between looking and seeing. From the beginning of the story to the end you can see a change within the narrator after his encounter with the blind man. At the end of Ra ymond Carver’s â€Å"Cathedral† the narrator hopes to accomplish a change in his understanding of himself, and his experience with Robert flickers this change