Thesundaily.com, 30 Mar 2009, Tan Siok Choo
WITH unbelievable speed, the global financial turmoil is driving an increasing number of East Asian economies into a recession.
Joining the roll call of countries likely to register negative growth this year is Malaysia. Economic growth in this country may be negative in the first half of this year, Bank Negara says in its latest annual report while Singapore’s economy contracted in the fourth quarter last year, a trend that is likely to continue this year.
However, sombre economic prospects offer an unrivalled opportunity for better ties between Malaysia and Singapore. Some may argue if the Asian Financial Crisis in 1998 failed to draw both countries closer, why should the current financial turmoil prove to be different?
Read More
