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Introduction

Since Singapore gained its independence in 1965, its economy had progressed due to globalization, rapid technological advances and the rise of China and India. With these different stages of development, Singapore’s labor market had adapted itself by transforming from a labor abundant and capital limited city into a labor deficient and capital rich country (Chia 2005). Singapore is now a popular export-manufacturing base, regional headquarter for foreign multinational company and a financial centre (Chia 2005). The industrial structure has also progressed from a labor intensive export manufacturing to a capital and technology intensive manufacturing, which hence provided capabilities to compete globally not only for its cost and efficiency but also for its innovation and creativeness (Chia 2005). Other crisis which also left a mark in Singapore’s employment structure were namely, the 1997/8 Asian economic crisis, the 2001 global downturn, the grow of......

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Approximate Word Count: 2161
Approximate Pages: 9 (250 words per double-spaced page)

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