07-18-2020, 02:52 PM
Global trade is crucial to not just Singapore but all open border economies. Stabilisation of world trade through policies on opening up borders, such as avoiding a trade war are all crucial. However, the stabilisation of world trade in my opinion is so heavily based on the stabilisation of countries economies. So the question really is are we prepared to stabilise our economies after this economic fallout. I think with the fiscal stimulus we have seen and recent data on recovery. I think yes. However, it will take time, and there is the argument to be made that there is still a lot of recovery to be done in the amount of leverage governments have taken on not just in this Crisis but also in 08 However it is interesting to look at Singapore’s recovery specifically.