Generally, the paper "International Business - Singapore" is a perfect example of a business case study. The rise of globalisation has led to the emergence of many factors in the economic world. Such factors include the rise of trade among nations of the world, which is referred to as international trade. Though international trade has been present since the 18th century, it has been experiencing gradual changes and transformations from classic international trade where it was mainly between countries to modern international trade as a result of the rising and growth of multinational companies in the international trade order.
The rise of multinationals has changed international trade substantially and, therefore, this essay is geared towards looking at the effects of international trade on modern-day trade, as well as globalisation with Singapore serving as a case study. IntroductionSingapore is an island state lying on the south of the Malay Peninsula. The island is diamond-shaped, and it is regularly termed Singapore Island. The country is a contemporary city-state and has emerged to be among the world’ s biggest commercial centres and one of the busiest ports around the globe.
A former colony of the British, the country joined with other former British colonies in 1963 to form Malaysia even though it was later expelled from the union two years later. However, the country has picked up from this setback to achieving rapid development to be regarded as among the four Asian Tigers. Factors such as a well-functioning international trade for instance manufacturing as well as globalisation have expanded Singapore’ s economy to catapult it into such success. Singapore’ s international tradeThe importance of international trade to Singapore’ s economy cannot be overestimated due to the country’ s small domestic market as well as lack of adequate natural resources.
According to the World Trade Organisation’ s rankings, Singapore ranks in the 14th spot among the largest exporters and is ranked 15th biggest importer in international trade in the world.
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