What it means for Singapore to be on US currency watch list

Official US statistics show that while Singapore-US trade topped US$60 billion last year there was a near US$6 billion balance in America's favour. PHOTO: REUTERS
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Think of it as a heavy hand wrapped gently around your shoulder.

The US Department of Treasury's move to include Singapore on a watch list, along with Germany, Ireland, Italy, Japan, Malaysia, South Korea and Vietnam is, therefore, a nudge to relook its currency policy and high savings rates. The last time any country was actually named a currency manipulator by the US Department of Treasury was China and that was almost a quarter-century ago.

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