global economy

DBS Group CEO Piyush Gupta says the global outbreak is the “single biggest crisis” he has seen. In terms of impact, Gupta says the world has not seen anything like “the height of dimensions of this crisis… from an economic standpoint”.

The Covid-19 crisis has triggered the fastest bear market in history, followed by the fastest initial rebound. Traditional defensive assets provided some protection during the March sell-off, but to a lesser degree than in past crashes.

“The greatest uncertainty and the downside risks at this point in time is the global external demand, and I don’t think fiscal measures alone will be the most appropriate for this kind of challenge.” - Trade and Industry Minister Chan Chun Sing

The study found that some 79% of executives in Southeast Asia (SEA), and 75% of executives in Asia Pacific (APAC) have indicated that they are planning to divest within the next two years.

Second waves of coronavirus outbreaks may not mean reimposing blanket restrictions on activity in Asia. The region’s economies, which have seen more than half a century of growth grind to a halt, won't be able to handle it.

Quoteworthy: "Donald learned long ago how to pick his targets." — Mary Trump, niece of the US president, in her upcoming tell-all family memoir, “Too Much and Never Enough: How My Family Created the World’s Most Dangerous Man”.

In recent days, renewed concerns have been expressed about the recovery in the global economy as the number of new Covid-19 infections in the United States, India and Brazil surged — precipitating fresh lockdowns in many cases.

The speed and magnitude of the globally synchronised deterioration in public finances is among the many unprecedented developments over the past six months.

Quoteworthy: “Everybody is scared, including the biggest financial institutions.” - Wang Jiangyu

The Global Investor Confidence Index (Global ICI) jumped 21 points in June to 94.3 points, from May’s revised reading of 73.3.