Singapore is heavily trade-dependent, second only to Luxembourg in trade-to-gross domestic product terms, and is usually seen as a leading indicator for how other nations are likely to perform. Photo: Reuters
Singapore economy tipped for recession as US-China trade war slams imports, exports, manufacturing
- Second quarter growth in the city state confirmed at minus 3.3 per cent on a quarterly basis, down from 3.8 per cent growth in the first quarter of 2019
- ‘With everything that we are seeing, it is quite possible that there will be a recession in the third quarter of the year,’ said Coface economist Carlos Casanova
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Singapore
Singapore is heavily trade-dependent, second only to Luxembourg in trade-to-gross domestic product terms, and is usually seen as a leading indicator for how other nations are likely to perform. Photo: Reuters
Sales of Japanese beer, cars and clothing in South Korea have declined since the dispute erupted in early July. Photo: Shutterstock
Japanese firms fear escalation in South Korean trade spat as beer, car and fashion brands take a hit
- The likes of Toyota, Asahi Breweries, Uniqlo, and Muji are all keeping a close eye on tensions between the East Asian neighbours
- Analysts say both sides have adopted Donald Trump's approach, which has in effect, legitimised the weaponisation of trade
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South Korea
Sales of Japanese beer, cars and clothing in South Korea have declined since the dispute erupted in early July. Photo: Shutterstock