Singapore's growth in the second half of 2019 is likely to be weaker than earlier envisaged if the trade impasse between the United States and China drags on and further tariff measures are imposed.
The country's three economic "engines" comprising trade, investment and local manufacturing have stalled and slowed overall growth, Monetary Authority of Singapore (MAS) managing director Ravi Menon said yesterday. Weaker growth will affect Singapore's economic forecast for this year.
This comes as Maybank Kim Eng said Singapore is headed for a shallow technical recession - two straight quarters of quarter-on-quarter contraction - in the third quarter.
Meanwhile, Mr Menon said talks have already begun with Facebook on the social media giant's planned cryptocurrency, Libra.
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