For subscribers
What it means for Singapore to be on US currency watch list
Sign up now: Get ST's newsletters delivered to your inbox
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
Follow topic:
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.
