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Anonymous
Why I ask this question is because of the many trade wars and talks of an upcoming recession. Amidst all this, how difficult is it for SG's economy to survive?
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Kenneth Lou
23 Mar 2020
Co-founder at Seedly
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Ashley Wong
01 May 2019
Financial Assistant at Multi Management & Future Solutions
Yes why not! Singapore economy can survive in all conditions. As per Vivian Balakrishnan, minister-in-charge of the Smart Nation initiative - Interdependence is key to Singapore's economic survival.
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This is a very good question which I think is worth answering more in detail with a macro and mirco economics way of looking at this.
In the long run, yes I am confident that the Singapore economy will survive given our history in battling recessions and downturns.
However along the way in the short run, I do think that many companies will get injured along the way, many will die, and people left jobless as well.
As harsh as it sounds:
"It Is Not the Strongest of the Species that Survives But the Most Adaptable" – Charles Darwin