No ‘Get Out of Jail Free’ cards this time round
Coming right after the awful GDP figures for the second quarter (see Hey Lee Hsien Loong Dude, What’s the Plan?), the trade figures announced by Enterprise Singapore on 17 July were equally, if not more, shocking. Non-oil domestic exports (NODX) fell by 17.3% year-on-year in June, an acceleration from the 16.3% decline in...
Will the last US MNC leaving China switch off the lights?
Further to Apple planning to leave China with help of Taiwanese Foxconn, big US MNCs such as HP, Dell, Microsoft and Amazon are looking to shift big amounts of their production out of China, says the Nikkei Asian Review. The potential exodus reveals how the US-China tech war is accelerating the already underway cost-push migration...
Deal with the impending recession
Singapore is expected to enter into a recession. It is likely to be worse than projected by the finance minister, Heng Swee Keat. What can be done to deal with this challenge? I like to suggest the following steps. a) We must make sure that many workers continue to have jobs. It is inevitable that some workers will be retrenched...
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