Sunday, September 21, 2008

Singapore's economy

Singapore's economy is intertwined with the world's.

With the collaspe of the few top banks in the United States, though the adverse effect may seem to be cushioned for the time being by the offer of billions of dollars in assistance by the central banks as well as the similarly billions of dollars of bailout by other banks, the effect may still need some time to taper off.

Today's news reported US President Bush is seeking US $700 billion from the congress to improve the tricky financial situation.

Singapore's economy may be affected and Singaporeans may need to rein in their spendings.

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