They are calling it an unexpected contraction in Singapore’s economy which is in line with our Economic Confidence Model which bottoms in January 2020. In addition, China’s exports have also declined by 1.3% during June. Gross domestic product in export-reliant Singapore declined by a shocking 3.4% in the second quarter from the previous three months. This was the biggest decline since 2012. Everywhere we look, the world economy is following the Economic Confidence Model perfectly. As stated before, the decline would be felt OUTSIDE the USA far more so than within the domestic economy.
Of course, the blame is being laid
on Trump citing his US-China trade war is having an impact on Asia, and
that includes Singapore’s latest export figures. Singapore saw exports fall for
a second month in a row, this time by 17.3% in the month of June
compared to a year ago. The economic growth in Singapore declined by
3.4% from the previous quarter. However, the world economy has been
turning down before Trump’s trade war as they are calling it. More than
10 years of Quantitative Easing has been unable to restore economic
growth, but why look at trends when you can just bash Trump?
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