What decoupling? Banking crisis shows global economy still tightly knit

SINGAPORE - The speed at which the failure of a small bank in the United States turned into a global market sell-off shows the extent to which the global economy is still bound by strong financial links, making it a bit premature to declare the end of globalisation.

Shock waves from the

collapse of Silicon Valley Bank

in California spread to the other side of the Atlantic

to hit Swiss giant Credit Suisse

last week, sparking fears of another global financial crisis.