SINGAPORE: It has been a challenging year for the global economy and particularly hard for countries that are trade-dependent and deeply integrated into global supply chains.
Tariffs and persistent trade-related uncertainties not only led to contracting trade, but also adversely impacted confidence and business investment.Muted export sector activity together with softer capital investment has translated to weaker real GDP growth around the world.Softer global demand and trade have put additional downward pressure on China, which has already been on a slowing growth trajectory.
FILE PHOTO: A researcher plants a semiconductor on an interface board during a research work to design and develop a semiconductor product at Tsinghua Unigroup research centre in Beijing, China, February 29, 2016. REUTERS/Kim Kyung-HoonThe aforementioned entwined developments — the US-China trade dispute, weaker global and Chinese economic growth, and the electronics sector downturn — have jointly impacted Singapore.
Singapore Maritime Week draws members of the international maritime community for conferences and events that reflect the vibrancy and diversity of the city-state as a global hub port. Photo: ShutterstockElectronics is the biggest component of Singapore’s exports. Integrated circuits alone account for almost 40 per cent of Singapore’s total exports.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TODAYonline - 🏆 1. / 99 Read more »