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Singapore hit the hardest by China’s economic waves: Moody’s
Find out the mainland’s share in Singapore’s GDP.
Singapore is the most vulnerable ASEAN country when it comes to China’s economic exposure, a report by Moody’s says.
The regional average of exports as a share to GDP is 7.9%, a far cry from Singapore’s 16.4%.
Moody’s adds that, as the only ASEAN country with significant financial exposure to China, Singapore’s loans to the mainland range from 7% to 19% for the top three Singaporean banks. Much of this lending is dominated by short-term trade financing, rather than direct exposure to Chinese companies or the country’s investment boom, which is likely to prove more resilient.
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