Tech-First Singapore Showing the Way to Recovery

Image: Pixabay

As the shift begins toward a post-COVID-19 world, a few beacons of hope sit on the horizon. Health has become the operative word in every sense. Physical, mental, and economic health will all be under the spotlight for years to come. While political leaders wait for scientists to develop a viable vaccine, those in charge of budgets and financial matters are already on the road to recovery.

Singapore is currently being held up as a case study for economic experts. Along with Taiwan, Singapore was lauded for its swift response to coronavirus. Tech-based contact tracing fast became commonplace and, initially at least, that kept the virus at bay. While the world was closed for business, Singapore was able to maintain a somewhat normal schedule.

Tech-Minded Countries to Thrive in the New Normal

Even without its proactive approach to pandemics, Singapore is well-positioned to thrive under what many have described as the “new normal.” As a tech hub, Singapore has a better chance than most of maintaining its status as a global trading hub. In fact, of the 500 companies listed in the 2020 Financial Times Asia-Pacific High Growth rankings, 70 are based in Singapore.

For those with an eye on the financial markets, that’s significant. In fact, even those without a background in trading are starting to see the potential in Singapore’s economy. For instance, traders are increasingly seeing the value in contracts for difference (CFDs).

The process of trading off of a company’s value without investing in it directly is arguably more accessible to less experienced traders who may not know what is CFD trading online. This type of trading doesn’t require the investor to buy any underlying assets and can be conveniently carried out online, making it well suited to traders looking to speculate on the value of Singapore’s thriving tech industry. As concepts such as remote working, social distancing and contact tracing become commonplace, all aided by technological solutions, Singapore’s companies still have plenty of chance to shine.

Digital DNA Can Protect Singapore

Image: Pixabay

Then, of course, you’ve got everything else connected to the internet. From online entertainment and education to cybersecurity and data privacy, any company with links to digital technology will thrive in a post-COVID-19 world. For the likes of Boxgreen (ecommerce), Red Dot Payment (online payments) and MiRXES (health), now is the time to shine. This, in turn, means it’s Singapore’s time to shine. Traders are currently pouring their money into companies like this as countries adopt a new tech-first attitude.

When Boxgreen et al are strong, Singapore’s economy will be strong. Yes, like all countries, it may not be as it once was. However, at a time when every economy is feeling the strain, any glimmer of hope is important. As Alex Capri has noted, Singapore’s “digital DNA” is “well-suited for a post-pandemic economy.” Traders already know that and it seems that the world at large is increasingly realizing it. As governments look towards a recovery, Singapore could provide the blueprint for businesses, economists, and policy.

 

 

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5 Responses to “Tech-First Singapore Showing the Way to Recovery”

  • Tech World:

    Agreed.Singapore should take advantage of the opportunity in these tech sector for the Post Covid World.
    It will help our economy and provide high paying jobs for our people.
    Government should give more support to develop our local companies and talent in these areas.

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  • trublu:

    Not too sure about CFDs trading.
    Stats show retail investors tend to lose money in CFDs.

    What with ALGOs n giant trading firms with the financial clout to flex their muscles.
    Sgs,unless you are prepared to lose,dont get started.

    Use only spare cash if you insist.

    Brokers are like pirhanas.
    Invest with extra care but try not to speculate.

    You think the govt cares if you lose your pants?
    They just want to put SG as trading hub.
    It is for their own ego,not your pockets.

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  • CCB:

    “While the world was closed for business, Singapore was able to maintain a somewhat normal schedule.”

    Not true! CB equivalent of a lockdown lasted for 2 months & post-CB phased-reopening still on for some months!

    It was a costly CB which bleeds about $100b taxpayers’ money!

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  • CFD trading:

    No CFD Trading…

    Will cause more harm than good in the long run…

    Better be safe than sorry…

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  • Really shouldn't be thick skin:

    (Along with Taiwan, Singapore was lauded for its swift response to coronavirus)

    Errr, pardon me, other than contact tracing how do we figure besides Taiwan in swiftness and precision of response to the pandemic?

    Taiwan covid19 facts: 449 cases and 7 deaths

    Taiwan demographics: 24 million pop. 36,000 sq. km.

    Taiwan is the world leader in responding to the pandemic and first warner to WHO (which the CCP has collude with to ban Taiwan membership) about the hazard of human transmission.

    Anymore piggy-back statements from Emperor Dowager’s eunuchs? Damned falsehood mongers….

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