Singapore's MAS Says Global Growth Risks Risen ‘Significantly’
- Global growth to slow if trade conflict escalates, Menon says
- MAS chief keeps Singapore growth forecast at 2.5-3.5%
This article is for subscribers only.
Singapore’s central bank sees “dire” consequences to the global economy if rising trade friction escalates into a full-blown war.
“The world has clearly moved from trade tension to trade conflict,” Ravi Menon, managing director of the Monetary Authority of Singapore, told reporters on Wednesday at the release of the bank’s annual report. “If this escalates into a trade war, all three engines of global growth -- manufacturing, trade, and investment -- will stall.”