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.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
