A global recession is "more likely than not" as the US and European economies are at "stall" speed, Singapore's finance minister says.
Tharman Shanmugaratnam told a conference that the world has now "entered a phase where there is a self reinforcing cycle" of a loss of consumer confidence, which is leading companies to hold back on investing.
"Asia will not be immune to a global slowdown," Mr Tharman said today. The Singapore economy is highly reliant on international trade. Full story
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