Globalization is about connecting Singapore with the rest of the world on a ratified FTA in aspect of cross-border businesses, imports and exports of both local-made and foreign goods excluding travelling.
True Protectionism means businesses are most likely to be local manufacturing sustainable foods and drinks and jobs within the country. By the definition of absolute, it would have meant a completely closed economy. A bilaterial FTA MOU would instead allow certain SG industry businesses to venture abroad with the host and vice versa.
The advantages of Protectionism are as follows:
1. Favorable trade tariffs beneficial to both the host and guest nations resulting in GDP growth
2. Cross-cultural exchange programs to redefine the 1965 ethnicity
3. Growing plentiful local hypophonic vegetables in a land scarcity nation
4. Lower prices for local produces than imports
5. Yet maintain the same cost of living and a stable GDP YoY
The Disadvantages are as follows:
1. Not all industries businesses can venture aboard
2. Local market
3. Mass influx of FW
4. FTA
5. GDP affected by world events
What are your thoughts on this discussion matter?
True Protectionism means businesses are most likely to be local manufacturing sustainable foods and drinks and jobs within the country. By the definition of absolute, it would have meant a completely closed economy. A bilaterial FTA MOU would instead allow certain SG industry businesses to venture abroad with the host and vice versa.
The advantages of Protectionism are as follows:
1. Favorable trade tariffs beneficial to both the host and guest nations resulting in GDP growth
2. Cross-cultural exchange programs to redefine the 1965 ethnicity
3. Growing plentiful local hypophonic vegetables in a land scarcity nation
4. Lower prices for local produces than imports
5. Yet maintain the same cost of living and a stable GDP YoY
The Disadvantages are as follows:
1. Not all industries businesses can venture aboard
2. Local market
3. Mass influx of FW
4. FTA
5. GDP affected by world events
What are your thoughts on this discussion matter?
