Suggested Answers of BT2 Revision Package - ASKnLearn

Trade PoliciesIn the light of an impending threat of global recession, SG should continue to pursue the policy of tradeliberalization e.g. forging a network of FTAs with both traditional (e.g. EU) and non-traditional tradepartners(Russia, Middle East). By diversifying export markets and FDIs flows via FTAs such as establishingmore trade and investment ties with emerging economies like China and India, which are neither“faltering “ economies nor are they affected by “Sovereign Debt Problem” , SG can cushioned itselfagainst external shocks. Unlike countries like US etc, SG should not resort to protectionist measures toshelter domestic firms or workers from foreign competition.ConclusionSince SG faces the twin problems of an inflation-cum-recession threat ( i.e. stagflation), the mostappropriate measures are SSP policies aim at sharpening the economy’s competitiveness by reducingcosts and improving the quality and appeal of its exports in the world market. In addition, the governmentmay also have to build more resiliency e.g. reserves which are useful to tide the economy over a difficultperiod of external turbulence.Domestically, the government may need to specifically target policies at controlling property prices fromsoaring or collapsing. Moreover, moderating COE prices might conflict with other objectives such ascontrolling road congestion/pollution arising from car ownership.Knowledge, Application, Understanding and AnalysisFor an excellent answer that has good analysis, coherent structure and application to thecontext.10-11For an answer that has adequate breadth and depth and no major conceptual flaws.9For an answer that has depth of analysis but is lop-sided e.g. no Anti-thesis i.e. too narrow inscope7–86For an answer that has adequate breadth but is lacking in depth of analysis i.e. too superficialBroadly on track, but analysis is lacking in terms of both breadth and depth i.e. too superficial,