Globalization and the Rise of China: Their Impact on Ethnic Chinese Business in Singapore
AbstractThe purpose of this paper is to make attempt to assess the impact of globalization and the rise of China on ethnic Chinese business in Singapore. Globalization poses both threats and opportunities to all businesses. The major threats are the financial crisis and the severe competition on a global scale. The opportunities, among others include a much larger international market which allows the enjoyment of economies of scale and specialization. The existence of a virtual market on global scale also provides ample opportunities for ethnic Chinese business to exploit for their economic gains. Ethnic Chinese businesses in Singapore, despite their structural weaknesses, were able to weather the storm of the Asian Financial Crisis with government assistance. The rise of China with its open door policy also provides ample opportunities for these businesses to exploit their ethnic advantage in their investment in China. Nevertheless, the ventures also brought about painful experience, arising from cultural differences. Of significance is the stiff competition provided by mainland Chinese businesses in the third country’s markets, not to mention the issues of hollowing-out effect and offshore outsourcing. In the face of globalization and the rise of China, the focus of the Singapore government policy is to enhance these ethnic Chinese businesses’ capabilities so that they can be effective partners in a tripartite alliance among government-linked corporations, multinational corporations and SMEs in their venturing abroad, especially investment in China.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Nanyang Technolgical University, School of Humanities and Social Sciences, Economic Growth centre in its series Economic Growth centre Working Paper Series with number 0506.
Length: 20 pages
Date of creation: Jun 2005
Date of revision:
globalization; overseas Chinese business; ethnicity; entrepreneurship; small-and-medium enterprises; China; Singapore;
Find related papers by JEL classification:
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Tsang, Eric W. K., 2002. "Learning from overseas venturing experience: The case of Chinese family businesses," Journal of Business Venturing, Elsevier, vol. 17(1), pages 21-40, January.
- Harm Zebregs & Wanda Tseng, 2002. "Foreign Direct Investment in China: Some Lessons for Other Countries," IMF Policy Discussion Papers 02/3, International Monetary Fund.
- John Whalley, 2003. "Liberalization in China's Key Service Sectors Following WTO Accession: Some Scenarios and Issues of Measurement," NBER Working Papers 10143, National Bureau of Economic Research, Inc.
- Adrian E. Tschoegl, 2001. "The International Expansion of Singapore's Largest Banks," Center for Financial Institutions Working Papers 01-20, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Yongzheng Yang, 2003. "China's Integration into the World Economy: Implications for Developing Countries," IMF Working Papers 03/245, International Monetary Fund.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Magdalene Lim).
If references are entirely missing, you can add them using this form.