Toffler has been correct with past predictions; indications indicate that he may well be correct with this one too.
Evidence against
Singapore is already a diverse nation. Unlike Germany whose citizens saw themselves as German, Singapore's citizens see themselves in terms of their background races even if these background races have been in Singapore for already several generations. The four races have their own color, language, creed, and religion and have been long content to remain as this. Nationalism, therefore, seems unlikely to occur in a country that is so diversified -- and content with this diversity - as it already is. Moreover, Singapore is a main island that is surrounded by 60 islets. Nationalism has historically originated in countries that were geographically one solid bloc of land and the threat of one or more foreign nations sharing that same one land caused nationalism to take root. We see that with Italy under Bismark, and we see that today with Israel (a tiny land that is split between two people). This is the pattern of nationalism where lack of geographical boundaries cause the threatening presence of the 'foreigner' to be felt all the more. Singapore's breadth and space as well as its many dividing rivulets of water should serve as distracting influence. More so, Singapore owes its affluence and prosperity to its influx of immigrants. And finally, Singapore has never evidenced any violent upsurge of historic nationalism. For it to do so now seems to be out of sync with its character (Singapore History. online).
Conclusion
There is already...
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