ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Opinion

Asian exporters must heed Singapore's recession warning signs

Southeast Asian nations will fall victim to same global troubles

| Singapore

The specter of recession hangs grimly over the world economy. Bond markets this week signaled a looming contraction in the U.S. Global manufacturing is already shrinking. In Asia, Singapore's move to slash its growth outlook on August 13 underlined the fact that Asia's trade-dependent economies now face their bleakest moment since the global financial crisis -- one where their governments are set to struggle to respond.

Singapore's economy flatlined in the most recent quarter, prompting it to cut forecast growth to between zero and 1% this year, down from between 1.5% and 2.5% earlier. In July, Prime Minister-in-waiting Heng Swee Keat said his country was not yet expecting a "full-year recession."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more