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Economic Environment of Singapore - 3298 Words

International Marketing 560 Economic Environment of Singapore Laura L. Erwin-Hall October 12, 2007 Home to some 4.48 million people (based on the last census in 2005 reported in 2006), Singapore is the fourth most densely populated country in the world and has one of the highest per capita gross domestic products in the world.1 The employment rate is 2.40 million (June 2006), with unemployment at an all-time low at only 2.5 percent. The labor force consists of mainly manufacturing, transportation and communication, construction, and financial, business, and other services. Singapore is orderly, prosperous, and modern. According to Richard H.K. Vietor, a Harvard Business School professor, Singapore, along with†¦show more content†¦(1) The government s role is to provide private enterprise a stable environment in which to thrive. The main focus of the Singapore s government spending is on essential public goods and services to Singaporeans. Key areas of expenditures are on education, public housing, health care, and national security. (2) Tax and expenditure policies should focus on incentives for saving, investments, and enterprise. Singapore s main source of governmental savings comes from taxes which are then used to increase economic competitiveness and attract foreign investments. Singapore is ranked number one for economic freedom. This combination of fair tax policies and the careful expenditure program, along with high economic growth has allowed Singapore to gather consistent budget surpluses. Their fiscal policy has also contributed to Singapore s high savings rate and allows it to achieve one of the highest investment rates in the world. In addition, Singapore does not have any foreign debt. The government promotes high levels of savings and investment through a mandatoryShow MoreRelatedThe Political Risk Environment Is Predominantly Favorable For International Expansion1027 Words   |  5 PagesThe political risk environment is predominantly favorable for international expansion. Singapore has low political risk and was ran ked as having the lowest political risk in the continent by the Political and Economic Risk Consultancy. Singapore is quite politically stable with a solid government and positive relations with neighboring countries. The political environment of Singapore is very stable. Singapore’s government is a parliamentary republic and The People’s Action Party (PAP) has ruledRead MoreWhy Sustainability Is Important : Our Worldwide Future Depends On It1283 Words   |  6 Pagesâ€Å"sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs† (para. 1). 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America’s Working Poor Response Free Essays

Tens of millions of men and women in America struggle because they are stressed out about not making enough money even though they are working as hard as possible. In her book Nickel and Dimmed, Journalist, Barbara Rehiring writes about her research working as a minimum wage employee attempting to get by in Americas tough economy, she describes in depth the struggles that the minimum wage workers suffer through and she witnesses them first hand as she goes under cover and works these Jobs herself. Middle class Jobs are being replaced by low income bobs, the people in these Jobs are referred to as â€Å"the working poor†,and are not able to make ends meet at the end of the month. We will write a custom essay sample on America’s Working Poor Response or any similar topic only for you Order Now People in America working minimum wage Jobs struggle on a daily bases to get by, this causes them anxiety due to their lack of a health care plan, living situations, and injuries that occur at work. Health insurance premiums are rising and some employers no longer offer this benefit, the low wage workers are the ones that are particularly affected by this major issue. Employees without health coverage, are unable to get preventative care r proper treatment for an illness, may become sicker later on. In chapter one of her book â€Å"Serving in Florida† Rehiring describes her co worker Sail’s situation, â€Å"Gall, for example,†¦ Is supposed to be on the company health plan by now, but they claim they have lost her application form and to be beginning the paper work all over again. So she spends $9 a pop for pills to control the migraines she wouldn’t have, she insist, If her estrogen supplements were covered. (27) Without the company behind them, employees will end up paying more for Individual health coverage than their employers would have paid to put them on group coverage. Similar to Rehearing’s situation, Morgan Spurious and his flange Alex attempt to survive 30 days living of a minimum wage salary, as n the TV episode â€Å"30 days: Minimum Wage†. In the episode there Is a scene where Splotch’s hand Is Injured and swollen because of the manual labor he is doing. Due to the lack of medical Insurance he chooses to try out a free clinic provided by the community for the low Income families Instead of the emergency room. Once he Is there he realizes that getting checked by a doctor wont e so easy since there Is so many people In line and the clinic only takes the first twenty. He then has to resort to the emergency room where he Is charged more that he can afford to pay because of his low Income. Even though the communities attempt to help the working poor, not everyone Is available to take advantage of the benefits. While there Is no easy solution to the problem of health Insurance, It Is obvious that leaving employees on their own to find Insurance, rather than Glenn them the benefit of group rates, Is not the solution. America’s Working Poor Response By carpenter kook â€Å"Serving in Florida† Rehiring describes her co worker Sail’s situation, â€Å"Gail, for she spends $9 a pop for pills to control the migraines she wouldn’t have, she insist, if employees will end up paying more for individual health coverage than their there is a scene where Splotch’s hand is injured and swollen because of the manual labor he is doing. Due to the lack of medical insurance he chooses to try out a free clinic provided by the community for the low income families instead of the emergency room. Once he is there he realizes that getting checked by a doctor wont e so easy since there is so many people in line and the clinic only takes the first twenty. He then has to resort to the emergency room where he is charged more that he can afford to pay because of his low income. Even though the communities attempt to help the working poor, not everyone is available to take advantage of the benefits. While there is no easy solution to the problem of health insurance, it is obvious that leaving employees on their own to find insurance, rather than giving them the benefit of group rates, is not the solution. How to cite America’s Working Poor Response, Papers