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Talk of the end of the small economy model much exaggerated

Despite the looming US-China trade war and a retreat from globalisation worldwide, small, open economies like Singapore remain resilient

Concerns about the outlook for global openness are often accompanied by predictions of a cloudy outlook for small economies, both in a specific sense (such as the impact of trade wars) and in a more existential sense.

Financial Times columnist Janan Ganesh recently wrote that "the belle epoque of the small nation is over" because "globalisation has been the era of small countries but that time may now be passing". It is increasingly argued that national scale matters in a world of economic and geopolitical turbulence and uncertainty.

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A version of this article appeared in the print edition of The Straits Times on October 13, 2018, with the headline 'Talk of the end of the small economy model much exaggerated'. Print Edition | Subscribe