princess_morbucks
09-09-13, 20:57
http://www.channelnewsasia.com/news/business/singapore/sharp-slowdown-in-china/807414.html
A sharp slowdown in the Chinese economy will have a negative impact on Singapore, but it will not be as bad as the 2008 global financial crisis -- that is the view of Moody's Analytics in its latest report which came out on Monday.
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SINGAPORE: A sharp slowdown in the Chinese economy will have a negative impact on Singapore, but it will not be as bad as the 2008 global financial crisis -- that is the view of Moody's Analytics in its latest report which came out on Monday.
The research firm defines a hard landing in China as a drop in GDP growth below 3 per cent in 2014. If it happens, Moody's expects Singapore's economy to contract 3.3 per cent year-on-year by late 2015.
Among the sectors that will be hit most are electronics, foreign trade and real estate.
In the property market, it expects prices of commercial office space to fall 30 per cent, and residential property prices to decline at least 25 per cent.
Chinese property investments in Singapore have surged from just 7 per cent in 2007 to more than 30 per cent currently.
Given the reliance on China's growing consumer class, electronics production and tourism would likely be affected as well.
- CNA/ac
A sharp slowdown in the Chinese economy will have a negative impact on Singapore, but it will not be as bad as the 2008 global financial crisis -- that is the view of Moody's Analytics in its latest report which came out on Monday.
----------------------------------------------------------------------------------
SINGAPORE: A sharp slowdown in the Chinese economy will have a negative impact on Singapore, but it will not be as bad as the 2008 global financial crisis -- that is the view of Moody's Analytics in its latest report which came out on Monday.
The research firm defines a hard landing in China as a drop in GDP growth below 3 per cent in 2014. If it happens, Moody's expects Singapore's economy to contract 3.3 per cent year-on-year by late 2015.
Among the sectors that will be hit most are electronics, foreign trade and real estate.
In the property market, it expects prices of commercial office space to fall 30 per cent, and residential property prices to decline at least 25 per cent.
Chinese property investments in Singapore have surged from just 7 per cent in 2007 to more than 30 per cent currently.
Given the reliance on China's growing consumer class, electronics production and tourism would likely be affected as well.
- CNA/ac