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Globalization and Economic Nationalism in Asia$
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Anthony P. D'Costa

Print publication date: 2012

Print ISBN-13: 9780199646210

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199646210.001.0001

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Disciplining globalization for local purposes? The peculiarity of contending Singaporean economic nationalisms

Disciplining globalization for local purposes? The peculiarity of contending Singaporean economic nationalisms

Chapter:
(p.177) 8 Disciplining globalization for local purposes? The peculiarity of contending Singaporean economic nationalisms
Source:
Globalization and Economic Nationalism in Asia
Author(s):

Alan Chong

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199646210.003.0008

This chapter presents four stresses of globalization that Singapore faces and argues that official politics is attempting to only minimally command but always serve borderless capitalism in a joint mission with foreign investors to further prosperity of Singaporeans. These stresses are local frustrations over living space, the maladjustments of foreign workers in Singapore, the compulsion to host major economic conferences thinking that these are trouble-free forms of globalization, and the “revanchist economic nationalism” abroad that challenges Singapore’s sovereign wealth funds. The chapter surveys official Singaporean (People’s Action Party) economic thinking on hosting capitalist globalization, discusses how globalization has produced significant economic, social, and political challenges, and consequently emerging skepticism and thus economic nationalist views toward untrammeled globalization. The chapter nicely illustrates mercantilism with a globalist face.

Keywords:   Singapore, People’s Action Party, sovereign funds, foreign workers, revanchist economic nationalism, living space

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