Singapore’s non-oil exports for July were reported to have fallen by 11.2 per cent from a year earlier, better than the expected 15.3 per cent drop, but still a fifth successive monthly decline. Photo: AFP
Trade war and globalisation backlash pushing trading nations to the economic brink as recessions loom
- Two of the world’s most famous trading nations, Germany and Singapore, are facing recessions later this year, largely due to slowdown in global trade
- Donald Trump era has helped create increasingly tough time for nations reliant on exports, with further storm clouds on the horizon
Singapore’s non-oil exports for July were reported to have fallen by 11.2 per cent from a year earlier, better than the expected 15.3 per cent drop, but still a fifth successive monthly decline. Photo: AFP
