An Ill Economic Wind Blows From Singapore
With its open and traditionally nimble economy, Singapore often plays a weathervane role for global trade trends. As such, the ill winds blowing across the city-state should worry policymakers worldwide. According to statistics released, Singapore saw a startling 12.6% annualized drop in gross domestic product (GDP) between April and June. Viewed quarter-to-quarter, GDP collapsed a whopping 41.2%.