From Asia Times, July 7:
City-state contains price surge with aggressive exchange rate policy but likely slipped into a technical recession in the second quarter
Singapore’s central bank this week delivered a sobering economic assessment amid sluggish near-term growth prospects, ongoing inflationary challenges and predictions the economy is already in a technical recession.
The Monetary Authority of Singapore (MAS) also emphasized that despite revising its 2023 headline inflation forecast downward, its battle against rising consumer prices is far from won.
The city-state’s trade-reliant economy faces mounting headwinds as external demand weakens amid a global economic slowdown....
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You know who else is facing external demand weakness...