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Over the last few decades, Far Eastern countries have
undergone rapid industrial development. This has ranged from nations with no
prior experience in the field to more advanced states like Japan and
Singapore. Most countries possess natural resources such as oil, timber,
minerals, and gemstones, which they have exploited by importing foreign
expertise and equipment. The result has been a significant increase in
countries' GNP, favorable balances of trade, and hard currencies that
attract foreign investment. This development should lead to better
healthcare facilities, schools and colleges, sports facilities, and other
amenities. The availability of good wages should permit radical improvements
in living standards. Unfortunately, this is not always the case, especially
in one-party states, where new money is often diverted to armaments,
unnecessary luxuries, and the pockets of those in power.
Singapore and Japan are exceptional cases since they have been ahead of the
curve in industrial development for decades, although fierce competition has
reduced their lead in recent years. Oil exploration in the Singapore region
has declined, and with it the demand for re-exported oil-related machinery,
drilling equipment, and metal sheets and bars. Competition from countries
where lower wage-levels are acceptable has also led to a decline in
electronic components, diodes, photocells, integrated circuits, consumer
goods, clothing, furniture, and vegetable oils. However, Singapore will
always benefit from its six free trade zones, five of which are for seaborne
cargo and one for airborne. Their time-limited but duty and document-free
storage facilities will always be attractive, and INTRACO, an international
and paid-up trading company, has many useful functions.
Apart from the products mentioned earlier, Singapore has a vast diversity of
industrial products, such as industrial chemicals, printing and publishing,
shipyard restructuring and upgrading, aircraft repair and overhaul
capabilities, machine tools and related products, and office equipment. Less
than 5% of the land area in Singapore is used for farming, with the main
products being pork, poultry, eggs, vegetables, fish, and cut flowers.
The advantages of industrial development are evident. It generates jobs, and
money can be spent on universities, colleges, schools, and training centers.
State housing, mostly blocks of flats, offers rented accommodation, and
health, social, and police services can be financed. Health hazards like the
anopheles mosquito can be eliminated, and hygiene and family planning
publicized. Above all, late industrialization means that state-of-the-art
factories can be built without the need to modernize or demolish ancient
factories.
However, there are downsides to industrialization. A sudden shift to urban
dwelling and high tech employment can set up psychological problems, which
lead to health problems. Moreover, there is something to be said for the
semi-jungle nature of Singapore, and it would be pleasant to have a few wild
tigers present. The chief disadvantage is that industrialization sets up
living standard expectations that depend on a healthy overseas trade. At
present, there is a world trade recession, and surrounding countries are
becoming increasingly competitive. Inflation and widespread unemployment are
the primary dangers. |
