Singapore slump makes for a toxic cocktail
Economists fear that the Lion City will fall into the worst recession in its history, while hope rests on a resurgence of intra-regional trade.
Where Singapore leads, other Asian countries must fear to follow. Often considered AsiaÆs bell-weather economy, the Lion City continues to shock its neighbours and economists with data that casts a murky cloud over the region. The Singapore slump is a cocktail that induces an immediate and thunderous New Year hangover.
On Friday, the Singapore government cut its GDP forecast for 2009 to a range of -2% to 1% compared to its projection of between -1% and 2% made in November....
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