Global briefing: Trump v2/ USD dominance/ stalling Europe/ Chinese guardrails/ Singapore
Insights on five things that matter this week.
In this week’s global briefing:
1. Trump v2: A second Trump Administration is a serious possibility. There will be some continuity with the Biden Administration, but it will be much more unilateralist.
2. USD dominance: The dominance of the USD continues to extend, despite growing international use of the RMB and some attempts to diversify exposure to the USD.
3. Stalling Europe: Europe’s economy is skirting with recession on higher rates and other pressures; but there are also clear structural constraints on growth.
4. Chinese guardrails: There has been some stabilisation in relationships with China by the US and Europe, although the logic of strategic competition endures.
5. Singapore: Singapore’s growth has slowed, partly on slowing global flows. But despite external headwinds, Singapore is positioned well.
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