One of the biggest challenges facing Singapore now is navigating external geopolitical uncertainties, Iswaran said. As trade disagreements between the US and China morphed over the past year into a full-blown trade war, global growth engines have stalled, the city’s central bank chief said on Thursday.
(June 28): Singapore will focus on regional trade and digital economic agreements to counter the impact of the US-China trade war that’s weighing on the nation’s growth prospects and prompting some economists to warn of a recession risk.
It’s important that Singapore works on different types of regional arrangements to “find new pathways for growth,” S Iswaran, minister for communications and information, said in an interview with Bloomberg Television on Friday. He referred to pacts such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP, and the EU-Singapore free trade agreement.
