Indonesia could well be the next big growth driver for Singapore businesses

[SINGAPORE] For years, Singapore’s economy and businesses benefitted from plugging into a multilateral global trading system championed by the US.

But the US is walking away from multilateralism and embracing trade protectionism.

In recent decades, China’s rapid economic growth since the country started opening up to the outside world and pursuing economic reforms in the late 1970s has buoyed Singapore’s economy and corporates.