NCHS SS Prelim 2021

Name: Register Number: Class: PRELIMINARY EXAMINATION 2021 SECONDARY FOUR EXPRESS HUMANITIES (SOCIAL STUDIES) 2272/01 2273/01 2274/01 2287/01 Additional Material: Writing Paper Thursday, 26 Aug 2021 1 hr 45 minutes READ THESE INSTRUCTIONS FIRST Write your name, class and index number in the spaces provided on the question paper. Write in dark blue or black pen. Do not use staples, paper clips, highlighters, glue or correction fluid. Answer all question. Please start your answer for Section B on a fresh page. At the end of the examination, fasten all your work for Sections A and B separately. The number of marks is given in brackets [ ] at the end of each question or part question. The total marks for this paper is 50. This paper consists of 6 printed pages including the cover page. SECTION A (Source-Based Case Study) For Marker’s Use Parent’s Signature: ________________ _________________

2 Question 1 is compulsory for all candidates Being Part of a Globalised World Study the Background Information and the sources carefully, and then answer all the questions. You may use any of the sources to help you answer the questions, in addition to those sources, which you are told to use. In answering the questions, you should use your knowledge and understanding of the topic to help you interpret and evaluate the sources. 1 Study Source A. Why was the cartoon published? Explain your answer using details from the source. [6] 2 Study Source B. How useful is this source in helping us understand why countries adopt protectionism? Explain your answer. [5] 3 Study Sources C and D. Does Source C make you surprised of Source D? Explain your answer. [7] 4 Study Source E. How far does Source E prove that protectionism is undesirable? Explain your answer. [7] 5 ‘Protectionism suppresses economic growth.’ Using sources in this case study, explain how far you would agree with this statement. [10]

3 How should a country manage its economy in an increasingly globalised world? BACKGROUND INFORMATION Read this carefully. It may help you to answer some of the questions. Protectionism is the economic policy of restricting imports f rom other countries through methods such as tariffs or taxes placed on imported goods, import quotas*, and a variety of other government regulations in order to promote economic growth. While most economists have concluded that such a policy has a negative effect on economic growth, there is a rising trend among countries to adopt such methods as they are favoured by the masses. United States (US) President Donald Trump, for instance, was a fierce advocate of protectionism and won the election with the prom ise of protecting America’s economy. An example of his protectionist policy was the imposition of tariffs on goods made in China, thus making it more viable for the American products to be sold on the market. On the other hand, critics of protectionism argue that protectionist policies are a short-term solution to a country economic problems. According to them, a more sustainable solution is to continue with free trade and economic liberalisation which encourages international trade and promote economic growth. *import quotas refer s to restricting the quantity of foreign goods entering a country. Study the following sources to find out if government should adopt protectionist policies? Source A: A cartoon about Protectionism published in Chinese Daily on 25 November 2018. Chinese Daily is an English-language newspaper circulated in China.

4 Source B: An extract on why some countries adopt protectionist policies. This idea states that new manufacturers have an extremely difficult time competing against well-established, well-funded, extremely profitable companies in developed countries. New manufacturers in developing nations may not have the economic and financial resources, as well as the technology, physical equipment, and research a nd development expertise to compete against older, established firms. In order to let infant industries and new companies gain market-share and a competitive edge against well-established firms, governments must put into place short -term support mechanisms for these infant industries until they have reached a level so they can compete with foreign companies. It can also be argued that a developing nation must protect its infant industries while it diversifies its economy, Source C: Adapted from President Donald Trump's speech on 20 January 2017 after he was sworn in as the president. He was the president till 20, January 2021. Every decision on trade, on taxes, on immigration, on foreign affairs will be made to benefit American workers and American families. We must protect our borders from the ravages of other countries making our products, stealing our companies and destroying our jobs. Protection will lead to great prosperity and strength. We will bring back our jobs. We will bring back our wealth. We will build new roads and highways and bridges and airports and tunnels, and railways, all across our wonderful nation. We will get our people off of welfare* and back to work, rebuilding our country with American hands and American labor. *Welfare: refers to the assistance provided by the government to help Americans who are unemployed. Source D: Extracted from a speech given by then Minister for Trade and Industry (MTI), Mr Chan Chun Sing, on 14 June 2020. For many countries, COVID-19 has accelerated the retreat from globalisation, and the erection of more protectionist barriers. We must resist these pressures. A less connected world means a poorer world and fewer opportunities for all. A less connected Singapore means fewer an d poorer quality jobs for us. Even in a more protectionist, less connected world, we can still make a living and more. We can build capabilities to play critical roles in global supply chains to produce high quality products and services that others value. For example, we make four out of the world’s top ten drugs, we are the world’s seventh largest exporter of chemicals.

5 Source E: Adapted from an article entitled, ‘Why Protectionism Doesn’t Pay?’ published in the Harvard Business Review (HBR). It is a research journal written by experts in the field of business management. Protection advocates are usually more interested in saving the jobs of those already working in a certain industry than in preserving employment generally. Protectionists tend to believe that by placing import quotas on foreign goods, it will lead to more demand for products produced by domestic or local industry. This will result in the domestic industry improving their profitability and prevent them from closing their business. How ever, the affected domestic industry may choose to relocate to countries with cheaper operational cost or use automated machinery to operate. Such a response will result in reduce employment. Source F: Extract about the advantages of protectionism. ● More growth opportunities : Protectionism provides local industries with growth opportunities until they can compete against more experienced firms in the international market. ● Lower imports: Protectionist policies help reduce import levels and allow the country to increase its trade balance. ● More jobs : Higher employment rates result when domestic firms boost their workforce. ● Higher Gross Domestic Product: Protectionist policies tend to boost the economy’s GDP due to a rise in domestic production ------------------------------------------------------------------------------------------------------------------------------------- Copyright Acknowledgements: Source A https://www.cagle.co