10102897
Description
Mind Map by nichifuri 101, updated more than 1 year ago
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Created by nichifuri 101
about 7 years ago
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Economic Developments
- External
- Industrial Revolution (1750 - 1850)
- British were able to invent machines to produce more goods faster
- e.g. steamship - for transportation of goods without the need for monsoon winds - created
demand for coal to keep engines running
- SG became one of the most impt coaling stations because steamships in Asia have to stop in
SG to refuel - port-of-call
- SG became one of the most impt coaling stations because steamships in Asia have to stop in
SG to refuel - port-of-call
- e.g. steamship - for transportation of goods without the need for monsoon winds - created
demand for coal to keep engines running
- British were able to invent machines to produce more goods faster
- Opening of Suez Canal
- shorter route to East - great saving in cost of fuel; shorter time
- more steamships used to carry cargoes between Europe and Asia
- 1873 - 1913: SG saw an 8-fold increase in volume of trade
- 1873 - 1913: SG saw an 8-fold increase in volume of trade
- more steamships used to carry cargoes between Europe and Asia
- shorter route to East - great saving in cost of fuel; shorter time
- Industrial Revolution (1750 - 1850)
- Internal
- Role of the Government:
implementing Policies that
Promoted Trade
- Free Port
- open to all traders -
encouraged more
trade in SG
- open to all traders -
encouraged more
trade in SG
- Free Trade
- no tariffs, quotas, or
other restrictions
- no tariffs, quotas, or
other restrictions
- Free Immigration
- provided SG with financial and human capital needed - a
place of opportunities to be successful
- provided SG with financial and human capital needed - a
place of opportunities to be successful
- Development of port facilities (e.g. New Harbour)
- Free Port
- Role of the People: Strengthening SG's
capacity as a trading hub
- Role of the Government:
implementing Policies that
Promoted Trade
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