SINGAPORE (July 25): The US-China trade war is threatening to drag export-reliant Singapore into a recession and aggravating underlying risks facing the former tiger economy.
Singapore’s economic data have gone from bad to worse this month. Exports slumped to their second-worst rate since the global financial crisis, the purchasing managers index slipped into contraction for the first time since 2016, and the economy shrank the most in almost seven years in the second quarter.
