How did the Great Depression affect Singapore?

Answer 1

è Singapore depended largely on entrepot trade for its growth

è With lack of trading activities, companies in Singapore had much less trade and profit than before due to international drop in demand for tin and rubber

è Companies had to cut costs by retrenching workers to prevent suffering from incurring more losses

è Many rich merchants who invested in overseas trade also lost their wealth or became bankrupt

è There was widespread unemployment, hardship and poverty

è Many shops left empty for many months, nobody wanted to rent them to incur more losses

è Due to limited jobs available, hundreds of people would apply for vacant jobs.

è By 1931, 1/3 of the population was out of job

è Those able to keep their jobs, government passed a law in 1930 to either restrict and reduce immigrants entering Singapore, esp unskilled Chinese laborers or reduce pay of remaining workers

è When immigrants no longer able to earn money, they will return to their homeland, government had extra burden, because they had to arrange for them to return home

è Government had to use tax payers money of Singaporeans to send them back home

Answer 2

The Great Depression had a significant impact on Singapore as well, despite being a British colony at the time. The collapse of global trade led to a sharp decline in Singapore's key exports such as rubber and tin, causing widespread unemployment and poverty. The colony also faced social unrest and political tensions as a result of the economic hardship, ultimately leading to increased calls for self-governance and independence.

Answer 3

geylang had to close down