Singapore is doing great, actually
There’s a stark contrast between Singapore and most of the world: Singapore is already growing, and growing at a good pace. Unlike China, it didn’t start from a low base, but still managed to grow for a second straight quarter - this time 14.9% following the jump of 22% in the previous three months. Singapore’s government feels bullish about the city-state’s future and believes it will, year on year, contract no more that 2% - a heroic feat considering that its partners all over the world are suffering the worst recession in decades. Usually, Singapore’s mainstays are trade, finance and tourism, but its manufacturing, thanks to a highly skilled workforce, was a winner with 35% growth.