Singapore also suffers
Article Abstract:
Singapore has weathered the Asian financial crisis well with its conservatism but investment adviser Santander Investment Securities expects GDP to shrink by 2.2% in 1998. Santander maintains that Indonesia's economic problems, pressure on the Singapore dollar and delayed export recovery around the region have forced it to reevaluate its forecasts. P.K. Basu of of Credit Suisse First Boston maintains however, that Singapore's GDP would still register 4.5% in 1998.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Insulation to the region's turmoil shows some cracks
Article Abstract:
Credit Lyonnais's Asian economics team has predicted zero GDP growth for Singapore in 1998 reflecting the financial crisis sweeping throughout the region. The reason for this forecast is Singapore's dependence on trade with the Asian region that is expected to slow to a crawl in 1998. Moreover, the country's electronics sector is seen to find a harder time competing with its rivals as new technology is developed.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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