S'pore well-placed to capitalise on demands of an affluent Asia

[SINGAPORE] As Asia gets richer and demands more high-end consumer goods and modern services, Singapore is well positioned to capitalise on this trend, said the latest Macroeconomic Review of the Monetary Authority of Singapore.

Over the past decade, Asia has emerged as a significant driver of trade flows, particularly in the post-global financial crisis period.

A sizeable proportion of world trade was accounted for by the high-income countries in the 1990s. However, by 2009, Asian exporters emerged as prominent suppliers of intermediate, capital and consumption goods.