US Treasury 'monitoring list': The Singapore puzzle
From some angles, it is hard not to deduce that the report is shooting from the hip, at the risk of being wide of the mark and arguably casting shadows on its motivations
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LAST week, the US Treasury placed Singapore on its so-called "Monitoring List" for currency practices of major trading partners, implicitly flagging the Republic as a potential currency manipulator.
This is the first time that Singapore has been named since the 1989 inception of the US Treasury's bi-annual report to Congress, and is puzzling given good US-Singapore trade (and strategic) relations as well as Singapore's trade deficit with the US.
Technically, economies risk being placed on the currency manipulation watch list if two of these three criteria of the "2015 Act" are met :
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