Gloomy much?

It hasn't been a bad week for me at all, and I'm about to kick off my weekend at 2 p.m. on a Friday --- but this article in the Washington Post is the gloomiest thing I've read yet about Singapore and the global recession: "A global retreat as economies dry up".

... as the world enters a period of deglobalization, Singapore is a window into the reversal of the forces that brought unprecedented global mobility to goods, services, investment and labor. ... Singapore is an epicenter of what analysts call a new flow of reverse migration away from hard-hit, globalized economies, including Dubai and Britain, that were once beacons for foreign labor. Economists from Credit Suisse predict an exodus of 200,000 foreigners -- or one in every 15 workers here -- by the end of 2010.
This was one of the five headline stories in the Daily Beast's daily news blast. Which makes me wonder what the rest of the world is thinking about Singapore right now ...



At 3/06/2009 3:40 am , Anonymous Anonymous said...

Ouch. That was a painful article to read. Someone posted a photo of an empty/idle port - but being a random photo online, no one could verify/authenticate it. I suppose it was spot on given what WaPo is reporting.


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