Topic 1- GlobalizationGrowing up in the twentieth century, the topic of globalization has attracted numerous supporters and opponents alike. According to the International Monetary Fund (IMF), the key pillars of globalization are movements in trade, capital investment flows, human resources and knowledge information transferred across geographic boundaries. (IMF, 2000) While some see this process as beneficial and necessary, others view it with hostility and even fear. In Ladakh, the “Little Tibet” Observing firsthand the effects of globalization on local communities is Helena Norberg, founder of the International Society for Ecology and Culture (ISEC). Under the leadership of the Indian government, Ladakh was thrust onto the global stage in 1975, as the world raced towards rapid economic growth and development. Over the next twenty years, Little Tibet saw economic success like never before. Underscoring this achievement is the tourism industry which has contributed up to 50% of the nation's gross national product (GNP) due to the constant influx of foreign tourists, ranging from a few hundred to around 15,000 per year. (Alex G., 2008) As such, globalization has resulted in increased wealth for the entire Ladakh community. On the other hand, Helena and many others are witnessing the pernicious repercussions of this phenomenon. In particular, “globalization has created a sense of inadequacy and inferiority especially among young people” who compared their simple agriculture-focused lifestyle with the affluent, pleasure-seeking lifestyle of urban tourists. (Helena N., 2010). Giving in to psychological pressure, Ladakhis readily scorn their traditional values ​​and norms and are quick to embrace anything seen as modern. Case in point...... middle of paper ...... Furthermore, benefiting from globalisation, Singapore has established itself as the leading global financial centre. As such, it has succeeded in attracting multinational corporations (MNCs) and foreign direct investment (FDI). Citing a study by the National University of Singapore (NUS), “globalization has been the main centrifugal force that has led to the success of the financial sector in Singapore.” (NUS, 2004) Putting things into perspective, we must also be aware of the disadvantages that globalization brings. For example, the loss of traditional cultures, as seen in the case of Ladakh, or the influx of foreign talent competing for jobs; or even the effect of brain drain. However, central to our discussion is an understanding of how globalization has brought great benefits to the Singapore community as a whole; and how the positive impacts outweighed its deficit.