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point: subsidies

example: cdc vouchers

explanation : cuz covid

link: thus subsidies

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providing financial support and developing local expertise

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providing financial support and developing local expertise

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CPF savings is a compulsory 20% of our monthly pay. to set aside money to ensure sufficient money once we retire.

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Point: Digital Platforms were to new normal for businesses thus people had to adapt to it. The government (IMDA) helped businesses response to economic challenges through its Go Digital Programme. Which helped people learn more about the digital platform using online collaboration and virtual meeting tools.

Example: When COVID-19 hit, SME owner Mrs Lily Loh found it hard to sell her products. Her usual sales channels, such as physical venues, were suspended due to safe Management Measures.

Elaboration: She turned to IMDA's Go digital programme and learnt to digitise her business operations to increase productivity and boost efficiency.

Outcome: Through the programme, she was able to expand her home-based business selling into a full-scale factory catering to everyone everywhere, international or local.

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point: acqusition of knowledge and skills by individuals

elab: individuals who are digitally savvy and/ or possess sought after skills may be able to get more job opportunities locally and overseas, and perhaps get higher-paying jobs.

evidence: don't have

link: thus acquiring skills and knowledge is good

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Sheena, xingru, jewelle, Theresa and chloe

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Sheena, xingru, jewelle, Theresa and chloe

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Point: individuals can acquire new knowledge and skills throughout their life to remain relevant in the job market.

Exp: for example, MYSKILLSFUTURE is a digital platform where employees can upskill themselves with training programmes. Employess can join via Singpass.

Elab: individuals who do not have a lot of sought-after skills are often competing with foreign labor.

OC: individuals who go for these courses become more digitally savvy and possesses sought-after skills are able to get more job opportunities

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government provides workers and companies with financial support. their is a $4billion stabilisation and supposed package to support affected workers and firms with cash flow support, property tax rebates from tourist sectors dm rental waivers for government -managed hawker centres and properties. This would allow more companies to be able to continue to thrive and mother can expand to create more job opportunities

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financial support and development of expertise 

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financial support and development of expertise 

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p- Singapore launched various forms of government support as part of the 2020 Singapore Budget in response to the COVID-19 crisis.

e- cash flow support helped lower-income Singaporeans by providing cash to meet their immediate needs.

e- For example, Sectors like aviation and tourism received more support due to the severe economic impacts on these industries.

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MULTILATERAL FTAS

The government supports individuals by removing tariffs on 84 percent of all Singapore goods. This helps reduce the prices of goods and services for individuals hence, the cost of their daily living will be lesser and more affordable for them and other countries is also able to expand their trades to more parts of the world . For example, EU imports from Singapore saw a 12 percent increase in the first six months since the EUSFTS came into effect. This shows that it has helped improve the economy by expanding businesses which leads to receiving more income

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Acquisition of knowledge and skills by individuals (megan, karilyn , jance, sonia)

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Acquisition of knowledge and skills by individuals (megan, karilyn , jance, sonia)

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Individuals who are digitally savvy or possess sought-after skills may be able to get more job opportunities locally and overseas, and perhaps get higher-paying jobs.

However, individuals may find themselves competing with foreign labour. They may also risk losing their jobs when MNCSs relocate their operatons to other countries, or when individuals do not possess the relevant skills required in the increasingly digitalised economy.

Individuals can respond by being willing to acquire new knowledge and skills throughout their life and remain relevant in the job market. Especially in a world of rapid technological advancements, where current jobs are evolving and new jobs are being created. Individuals can also have a flexible and open mindset about exploring wnd trying out different or new areas of work. Lastly, they can ensure they save and invest appropriately, so that they have the resources to provide for themselves and their famillies during periods of unemployment or loss of income. This will help to tide them through financially as they take time to develop new skills or transit to new careers.

Countries and individuals may respond in different ways to become more resilient to the disruptions and economic vulnerabilities resulting from globalisation. This would enable them to continue to harness the benefits of being part of a globalised world.

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financial support and development of expertise (joyce and jamie)

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financial support and development of expertise (joyce and jamie)

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point: the government provides financial support to cushion the negative economic impacts on various sectors in the short term.

explanation: many sectors were affected directly and indirectly by Covid-19. The government's financial support will help them to alleviate their hardships.

example: A $4billion stabilisation and support package is provided to support affected workers and firms with retained jobs and wage support, cash flow support, property tax rebate for tourism sector during Covid-19.

outcome: It will lesson the negative impacts caused by Covid-19 such as losing their jobs resulting in a decrease in income.

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point: Countries can choose to cooperate with other countries by pursuing policies that promote free trade.

Example: For example, bilateral FTAs between two countries. One example is the Singapore-Australia FTA (SAFTA). This agreement came into force in 2003 and underwent revisions between 2006 and 2020.

elaboration: By signing free trade agreements (FTAs), trade and investments between two countries is made easier. This agreement removes tariffs on all imported goods and the number of Australian universities whose law degrees are recognised in Singapore increased from four to eight. The period of stay granted to business visitors between Singapore and Australia increased from one to three months. This increases convenience for people travelling for business.

conclusion: Therefore, the government can support citizens through pursing policies that promote free trade.

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They can acquire new knowledge and skills like learning how to be digitally savvy and possess sought-after skills that can land them with more job opportunities both locally and overseas. This can give them the chance to get jobs that pay higher than their original jobs. However, it may not always be successful as they will be competing with foreign labour and may even risk losing their jobs when the operations move to other countries. Individuals should also have a flexible and open mindset to try new things and different areas of work.

They can also do their best to save and invest appropriately so that they can have recourses to provide for both their families and themselves during tough times like unemployment to help soften the impact of the loss of income while also helping them to take the time ti develope new skills or transit to new careers.

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Attracting and making foreign investments

The Singapore government attracts and creates foreign investment opportunities in a global economy. One example is that the Monetary Authority of Singapore (MAS) ensures low and stable inflation in Singapore which helps to attract forgein investors. Another example is the Economic Development Board (EDB) and Enterprise Singapore (EnterpriseSG) help to create a vibrant business landscape to ensure sustainable economic growth for SG and good job opportunities for Singaporeans. EDB also attracts globally-leading companies from around the world to SG which enhances SG’s position as a global centre for business, innovation and talent. By ensuring that prices of goods and services do not rise rapidly, allows for SG to remain as an attractive place to invest in. This attracts more global corporations to be inclined to invest in SG, and allow for Singaporeans to be able to have more job opportunities. Therefore allowing Singapore to sustain their economic growth and bring in more capital for the country in terms of money and advanced technology. The foreign capital can be used to build production facilities, while advanced technology helps to raise the productivity of businesses and workers.