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Thread: If the US goes into a recession ...

  1. #1
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    Default If the US goes into a recession ...

    If the US goes into a recession ...
    Business Times
    Monday, 3 March 2008

    How will a US slowdown or recession affect your organisation and industry, and the Singapore economy in general? What can businesses do in the event of a slowdown?

    Clemen Chiang
    CEO
    Freely Business School

    THE US recession had already started since December 2007. I predict that the federal funds rate will drop to one per cent by September 2008. After that, we will most likely witness a rebound and rally in the market.

    If the recession is more prolonged, it would at most extend by another six months to March 2009. Investors must remember that our present recessionary cycle is very different from the US recession between July 1981 and November 1982. In one way, it is similar to the 1981-82 one because the recession hit financial institutions such as banks and savings and loans particularly hard. The significant difference lies in the fact that we now have the sovereign wealth funds stepping in to prevent these financial institutions from closing down. In addition, we have wealth distributed from oil-rich countries in the Middle East.

    Singapore is positioned to ride through the stormy weather in style! In these unique circumstances, Singapore has invested in three of the world's most exciting banks, namely UBS, Citigroup and Merrill Lynch. We have also lined up world-class activities to ensure a continuous influx of tourist arrivals to boost domestic consumption:

    Q1 2008 - Singapore Flyer
    Q3 2008 - Singapore Grand Prix
    Q3 2009 - Las Vegas Sands Marina
    Q3 2010 - Singapore 2010 Youth Olympic Games
    Q4 2010 - Resorts World Sentosa.

    These activities will allow us to tide over the challenges ahead. In the event of a slowdown, Singapore businesses should take advantage of this period to upgrade themselves through higher education, visiting other countries for opportunities and consolidating.

    Singapore can weather storm

    Singapore had been largely dependent on the US for its export market. However, in recent years, Singapore has successfully diversified its export markets to include China and India. In addition, its ongoing projects such as the integrated resorts, the hosting of the first Formula One night race and, most recently, the hosting of the 2010 Youth Olympics, would provide plenty of opportunities for the local market especially in the construction and services industries.

  2. #2
    Unregistered
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    Default Re: If the US goes into a recession ...

    OMG. I dun see how a Singapore Flyer will help our economy.

  3. #3
    Unregistered
    Guest

    Default Re: If the US goes into a recession ...

    Quote Originally Posted by Unregistered
    OMG. I dun see how a Singapore Flyer will help our economy.
    I guess the tourist got nothing better to do and no where to spend their money while in Singapore.

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