Monday, 21 March 2016

ECONOMICS: China VS Singapore

Why must Singapore not be complacent in her achievements?

After reading the 5 articles, I've realised that both China and Singapore are in fact, learning from each other about their different economical strengths and weaknesses.

It was said that Shanghai 'retained its title as the world’s busiest container port for a fifth consecutive year after widening the gap with its closest rival Singapore.' 

'Singapore handled 33.9 million 20-foot containers last year, according to a statement posted on the Maritime & Port Authority of Singapore’s website dated Jan. 16. Last month, Shanghai said it expects to process about 35.2 million boxes in 2014. A year before, the gap between the two ports was about 1 million boxes.
        'Shanghai, Shenzhen and other ports in China are dominating the global container-shipping market while the facility in Ningbo overtook South Korea’s Busan last year as the world’s fifth-busiest harbor. Seven of the world’s 10 top container ports were in China in 2013, with Hong Kong coming in at fourth.' 
This shows that China is way ahead of Singapore in terms of economical progress by shipping and the container-shipping market. Even though Singapore is trailing close behind Shanghai in terms of the container-shipping market, she must not be complacent, and learn from China how they operate and maintain their top position in the shipping market.
 It is also talked about how China's politicans are also learning from our way of governing Singapore. It is quoted, 'A stream of Chinese Communist Party officials have been traveling to Singapore to learn from the experiences of the island nation, which has developed as a hub of the Southeast Asian economy during decades of People's Action Party rule.' 
In a recent class, the students were divided into groups of four to five, and each group debated one of China's urban problems, including transportation, the environment, health care and waste disposal.
China wants to learn from us, and this shows that they are willing to learn about our governing system, to improve the lives of their people, and this is why I mentioned that Singapore and China need to learn from each other in order to do well economically and the well-being of their people
Singapore should not be complacent just because they did well in a few areas, because other countries, like China, are learning from our way of 'operating' day by day.If we are complacent, we would most likely get 'overrun' by other countries who are learning from us and using our methods. This very likely possible situation would be a very ironic and embarrassing one. To avoid this, Singapore should not be complacent with her already 'great' achievements. Singapore should also start learning from her neighbouring countries, too. Although we can  


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