Exports are under grave threat.
Singapore might be the worst-hit by China’s economic slowdown among Southeast Asian countries, according to a report by ANZ.
Each 1 percentage point decline in China’s economic growth will subtract 1.4 percentage points from Singapore, ANZ’s calculations said.
"With exports accounting for a much larger percentage of its economy than its peers, Singapore automatically has the highest sensitivity," Maguire said in an interview with Bloomberg. "To boost productivity and growth, Singapore needs to maintain the quality of its labor stock, attract the most sophisticated technologies and focus on higher value-added goods."
Read the full report here.
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