13116791
Description
Mind Map by Jia Jun Neo, updated more than 1 year ago
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Created by Jia Jun Neo
over 6 years ago
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Singapore
- Open
- No/Low Barrier
- a) G&S
- b) K flows
- c) Labour flows
- a) G&S
- Necessary
- X- Competitiveness
- e.g a) unit
labour cost
- b) inflation
- c) productivity
- d) price of raw materials
- e.g a) unit
labour cost
- Resources
- EG
- Necessities
- X- Competitiveness
- No/Low Barrier
- Small
- Popln
- Dom mkt
- Lack natural resources
- Popln
- Stats
- 1) X/GDP
- E.g 172% in 2016
- Used to calculate the % of international trade in the economy of a country
- Used to calculate the % of international trade in the economy of a country
- E.g 172% in 2016
- 2) X-M/GDP
- E.g 339% in 2016
- E.g 339% in 2016
- 1) X/GDP
- Implication
- 1) Heavy dependence on Ext DD
- 2) Heavy dependence on Imports
- 3) Vulnerable to ext shocks
- EG/Recession
- Trading partners
are in recessions
-> fall in exports
revenue
- e.g 2008 global financial crisis
- e.g 2008 global financial crisis
- Trading partners
are in recessions
-> fall in exports
revenue
- Changes in competitors' interest rates
- Volatility of hot money
- Volatility of hot money
- Inflation rates
- Importing raw materials -> cost-push infln
- e.g rise in oil prices due to political uprisings in the Middle East
- e.g rise in oil prices due to political uprisings in the Middle East
- Importing raw materials -> cost-push infln
- EG/Recession
- 1) Heavy dependence on Ext DD
Media attachments
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