1960s
There are roughly 5.1 million fewer American manufacturing jobs now than at the start of 2001. And China is to blame for more than one-third of that loss, says a new report. [See why temp workers are making big job gains.]. lost 2.7 million jobs as a result of the U.S.-China trade deficit between 2001 and 2011, 2.1 million of them in manufacturing. Wages of American workers have also suffered due to the competition with cheap Chinese labor, EPI says. In 1819, Sir Stamford Raffles founded Singapore as a trading post of the East India Company; after the company collapsed, the islands were ceded to the United Kingdom of Great Britain and Ireland and became part of its Straits Settlements in 1826. During World War II, Singapore was invaded and occupied by Japan. Singapore's best known global brands include Singapore Airlines and Changi Airport, both amongst the most-awarded in their industry; SIA is also rated by Fortune surveys as Asia's most admired company. After all, over the past few decades, Singapore has achieved astonishing economic achievements. Singapore’s annual GDP growth rate from the 1960s to the 1990s has averaged about 8%, more than double of the 3.3% average of the OECD growth rate and more than three times of the US growth rate [2 and 31]. Currently, Singapore ranks as the top Asian country with the highest standard of living. In the same period, the manufacturing share of the GDP grew from about 10% in 1960 to about 15% in the late 1960s [28]. More importantly, the entry of foreign corporations into the island has enabled Singapore to adopt the technology brought in by the investors. Four-fifths are in services. The decline in manufacturing jobs has swiftly accelerated since the beginning of 2000. Since then, more than 1.9 million factory jobs have been cut — about 10% of the sector's workforce. During the same period, the number of jobs outside manufacturing has risen close to 2%. In the last 20 years, the number of jobs in the economy has jumped nearly 30%. Until the recent surge in manufacturing job losses, the area's unemployment rate was below the national average. Singapore (/ˈsɪŋəpɔr/ or /ˈsɪŋɡəpɔr/), officially the Republic of Singapore, and often referred to as the Lion City, the Garden City, and the Red Dot, is a leading global city-state and island country in Southeast Asia. Singapore's best known global brands include Singapore Airlines and Changi Airport, both amongst the most-awarded in their industry; SIA is also rated by Fortune surveys as Asia's most admired company. The modern history of Singapore began in 1819 when Englishman Sir Stamford Raffles established a British port on the island. Under British colonial rule, Singapore grew in importance as a centre for both the India-China trade and the entrepot entrepôt trade In Southeast, asia rapidly becoming a major port. city Later, the Kingdom of Singapura rose in importance during the 14th century under the rule of Sultan Iskandar Shah and Singapore became an important port, until it was invaded by the Majapahit in 1398. It then came under the Malacca Sultanate, before finally destroyed for good by the Portuguese. The Economic Policy Institute, a left-leaning economic think tank in Washington, D.C., estimates that America. lost 2.7 million jobs as a result of the U.S.-China trade deficit between 2001 and 2011, 2.1 million of them in manufacturing. Wages of American workers have also suffered due to the competition with cheap Chinese labor, EPI says. The written history of Singapore dates back to the third century. Later, the Kingdom of Singapura rose in importance during the 14th century under the rule of Sultan Iskandar Shah and Singapore became an important port, until it was invaded by the Majapahit in 1398. It then came under the Malacca Sultanate, before finally destroyed for good by the Portuguese. In 2010, industry was responsible for 27.2 percent of Singapore’s GDP. Since the country’s independence in 1965, manufacturing continues to be a key industry for Singapore. Electronics manufacturing in particular has been the cornerstone of the economy for more than forty years. In the past decade, digital technologies manufacturing has been the thriving industry for Singapore. According to the 2011 Index of Economic Freedom, Singapore is the 2nd freest economy in the world. Singapore’s business freedom score is exceptionally high – it takes three days to start a business in Singapore compared to the world’s average of thirty-four days.
http://www.usnews.com/news/articles/2012/08/24/report-america-lost-27-million-jobs-to-china-in-10-years https://en.wikipedia.org/wiki/Singapore http://www.globalurban.org/GUD%20Singapore%20MES%20Report.pdf http://usatoday30.usatoday.com/money/economy/2002-12-12-manufacture_x.htm https://en.wikipedia.org/wiki/Singapore https://en.wikipedia.org/wiki/History_of_Singapore http://www.usnews.com/news/articles/2012/08/24/report-america-lost-27-million-jobs-to-china-in-10-years https://en.wikipedia.org/wiki/History_of_Singapore http://www.economywatch.com/world_economy/singapore/industry-sector-industries.html
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