Singapore among those most vulnerable to growth deceleration as China demand cools: Moody’s.
SINGAPORE : Singapore is among Asia Pacific countries that are most vulnerable to falling trade volumes globally in part due to ongoing tensions between the US and China, says ratings agency Moody’s Investors Service in a Tuesday report.
Hong Kong and Mongolia are most exposed given the high concentration of their exports that are absorbed by China. Singapore, Vietnam, Taiwan, Korea and Malaysia are also vulnerable. These trade-driven economies are key nodes in the manufacture of intermediate products, especially for electronics, a sector particularly exposed to the US-China trade and technology disputes.
In addition to lower demand for its own domestically-produced goods, Singapore would also be exposed to a generalised downturn in China's demand for commodities and goods sourced elsewhere in the region, such as those provided by Australia or Indonesia, given the city-state's role as a shipping, logistics and commodities trading hub.
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