Making microchips for everything from cell phones to cars has long been central to the success of Singapore, the tiny trading island seen as a bellwether for the global economy.
SINGAPORE (July 24): Caught between a Sino-US trade war, political concerns over Chinese telecoms firm Huawei and slowing consumer demand, chipmakers in Singapore have started slowing production and laying off hundreds of jobs, firms told Reuters.
The slump in a sector that made up nearly a third of Singapore’s manufacturing output last year is reinforcing expectations that the export-driven economy could slide into recession in the coming months.
