07-14-2020, 04:37 PM
Singapore is seen as one of the most trade dependent and open economies in the world. Many times, the health of Singapore’s economy indicates the overall global trade situation. Recently, Singapore showed a larger than expected decline in its GDP due to coronavirus. This may mean that the global trade situation is much worse than expected and a huge global economic downturn is just around the corner. Is the world equipped to deal with and soften the blows of this pandemic? Should policy makers focus on helping stabilise global trade?