A derailed EU will have a greater knock-on effect on Asean
Singapore
WHILE Asean's trade and investment linkages to Russia are relatively small, a derailed economic recovery in Europe as a result of a protracted Ukraine invasion will have a greater knock-on effect on the region, and particularly on Singapore, a key trading partner of the European Union (EU).
Western sanctions, including the latest US ban on Russian oil and gas imports, are posing headwinds to many baseline gross domestic product (GDP) growth forecasts. These may have to be revised lower if more sanctions are imposed to force Russia to end its aggression on Ukraine, a move which could set back Europe's recovery from the Covid-19 pandemic.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Asean
SpaceX’s unit Starlink secures Indonesia operating permit
Axiata, Sinar Mas seek permission for Indonesia telco merger, minister says
Malaysia’s stock market capitalisation hits record high of RM2 trillion
Indonesia central bank sees no need for more rate hikes
Malaysia eyes ‘orangutan diplomacy’ with nations that import palm oil
Malaysia to assess response to unilateral sanctions amid concern over Iran oil shipments