Spillovers from China’s Growth Slowdown to the Singapore Economy: Singapore
Electronic Access:
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Summary:
This paper examines the impact of China's economic deceleration on Singapore, highlighting how the deepening trade integration and China's pivotal role in Global Value Chains (GVCs) amplify these spillover effects. Utilizing multi-region input-output tables, empirical estimates, and the IMF's Global Integrated Monetary and Fiscal model, it identifies significant sectoral and aggregate impacts, particularly in electrical and machinery manufacturing, petrochemicals, and financial services. The analysis underscores the vulnerability of Singapore's economy to shifts in Chinese demand and productivity, emphasizing the need for vigilant monitoring and strategic adaptation to mitigate potential risks associated with China's slowdown.
Series:
Selected Issues Paper No. 2024/041
Subject:
Agroindustries Artificial intelligence Economic growth Economic recession Economic sectors Employment Gender Global value chains Globalization Labor Labor force Labor markets Production Productivity Technology Women
Frequency:
Regular
English
Publication Date:
August 13, 2024
ISBN/ISSN:
9798400286230/2958-7875
Stock No:
SIPEA2024041
Format:
Paper
Pages:
21
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