Globalization and the Rise of China: Their Impact on Ethnic Chinese Business in Singapore
The 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.
|Date of creation:||Jun 2005|
|Contact details of provider:|| Postal: Nanyang Drive, Singapore 637332|
Fax: 6795 5797
Web page: http://egc.hss.ntu.edu.sg/
More information through EDIRC
References listed on IDEAS
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.:
- Harm Zebregs & Wanda S Tseng, 2002. "Foreign Direct Investment in China; Some Lessons for Other Countries," IMF Policy Discussion Papers 02/3, International Monetary Fund.
- Yongzheng Yang, 2003. "China'S Integration Into the World Economy; Implications for Developing Countries," IMF Working Papers 03/245, .
- 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.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:nan:wpaper:0506. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Magdalene Lim)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.