This report provides a comprehensive analysis of the US-China trade war's impact on the Singaporean economy. It begins with an introduction to trade wars, specifically focusing on the US-China conflict, and its global implications, including potential recession risks. The report then delves into the specific effects on Singapore, detailing the country's high trade exposure to both the US and China. It examines the impact on various sectors like electronics, chemicals, and shipping, as well as the potential for both negative and positive consequences, such as increased trade with ASEAN countries. The report further explores the economic models relevant to understanding the trade war's effects, including supply and demand dynamics, inflation, and foreign direct investment. Finally, it discusses the Singaporean government's strategies to mitigate the negative impacts, focusing on monetary and fiscal policies and exploring alternative trade relationships. The report concludes by summarizing the key findings and emphasizing the potential for future economic challenges and the need for proactive government measures.
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