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Thursday, March 26, 2020

Singapore GDP contracts 2.2% yoy.

https://sg.news.yahoo.com/singapore-gdp-contracts-sharply-warning-virus-hit-global-044404590.html

If you think this is the worst, you are wrong because Q2 will be worse than Q1 for SG.

It is harder for SG to recover unless China recovers first because China can pull Asia out of its doldrum.  SG cannot depend on exports, tourism and local consumption anymore and we can only wait it out.  All the SG's FTAs cannot help SG now because many countries are in lockdowns.

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