‘Canary in the mine’: Singapore woes ring trade alarm bells

Business

‘Canary in the mine’: Singapore woes ring trade alarm bells

The trade war between the US and China has dramatically worsened the situation, analysts say

AFP

A plunge in exports and the worst growth rates for a decade have fuelled concerns about the outlook for Singapore’s economy, with analysts saying the figures offer a warning that Asia is heading for a slowdown as China-US tensions bite.

While it may be one of the smallest countries in the world, the export hub is highly sensitive to external shocks and has long been viewed as a barometer of the global demand for goods and services.

The affluent city state is highly dependent on trade and has traditionally been one of the first places in Asia to be hit during global downturns, with ripples typically spreading out across the region...

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