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The Documentary Podcast

Globalisation in reverse

The Documentary Podcast

BBC

Documentary, Society & Culture

4.32.7K Ratings

🗓️ 1 June 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Globalisation is about open trade, open doors and open borders. It is the way that Asia has grown its economy for the better part of the last half century. But the pandemic and tensions between the US and China have seen globalisation go into reverse - with many now saying it hasn’t benefited everyone. One of the biggest beneficiaries of globalisation has been Singapore. But the city-state is now an increasingly lonely voice calling for economies to stay open. It is being forced to reinvent itself and find new ways to grow its trade dependent and global economy. What lessons does Singapore have for the rest of us? Join Karishma Vaswani as she explores that question and many others in a wide-ranging interview with Singapore’s Prime Minister, Lee Hsien Loong

Transcript

Click on a timestamp to play from that location

0:00.0

Open trade, open doors and open borders. It's the way that Asia has grown its economy

0:11.6

for the better part of the last half century.

0:14.1

But the pandemic and tensions between the US and China have seen globalization go into

0:20.7

reverse, with many now saying it hasn't benefited everyone.

0:25.0

One of the biggest beneficiaries of globalization has been Singapore,

0:30.0

which is now an increasingly lonely voice calling for economies to stay open.

0:36.0

It's being forced to reinvent itself and find a new way to grow its trade-dependent and global economy. What lessons does

0:46.0

Singapore have for the rest of us?

0:50.0

I'm Karishna Vasswani, the BBC's Asia Business Correspondent, and I've been speaking

0:56.6

with Singapore's Prime Minister Li Sienlung about the challenges the tiny city state is facing

1:02.4

in this new era of a backlash against globalization.

1:07.0

You cannot avoid working with one another because to go back to where you were that way lies poverty and despair and probably

1:16.5

instability and conflict.

1:19.1

Over the course of this program we'll learn how globalization has benefited Singapore and

1:24.5

we'll hear about the challenges the city state is now facing as the world sees

1:29.6

a backlash against this economic trend and why that could create an uncertain future for the country.

1:36.0

But first, let's take a look at how trade and globalization have transformed Singapore and how this tiny country is carving out a future for itself in a post-pandemic world. The bridge between East and West, Singapore has always been at the center of trade and commerce but it was

2:05.4

globalization that really helped Singapore transform from a colonial trading

2:10.7

port into a global city connecting people, trade and business, all in the

2:16.8

space of the last few decades.

2:19.4

Indirjit Singh is one of many business owners who rode the wave of globalization.

2:25.0

His electronic products are designed in Singapore, made in China and Turkey,

...

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