Thursday, 26 February 2015

Reflection on China economy

China's economy growth and also the opening up of their country to the international trade will most definitely have quite a few implications on Singapore, and that includes two good implications and two bad implications.As Singapore is one of the many active business partners of China and we have plenty of big businesses that we are working with them, Singapore will be able to benefit really a lot from it if China's economy is able to grow as we will in turn be able to gain more money from our businesses with China, and that would help Singapore's economy to be able to grow quite a bit.Furthermore, China is now catching up with America in terms of their economy, which might mean that Chinese may eventually become the main language everywhere and that will be good for Singapore as Singapore students also learn Chinese in school unlike some other countries, which would allow Singapore students to excel compared to other students from countries where they do not teach Chinese in school. Although there are a few good implications for Singapore if China's economy manages to grows, there are still bad implications from this. If China's economy grows, China might start to become very competitive with all the countries and in the end, our relationship with China might get strained and no longer have a good business relationship between the two countries.The other bad implication of China's economic growth may be that more and more China people may come to Singapore to get good jobs and so the younger generation of Singapore may therefore have less jobs to go to as all of them are not willing to go to the jobs with a lower pay, and the unemployment rate in Singapore will rise significantly, which will do bad for the reputation of Singapore.

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