SINGAPORE: “Integrate” and “innovate” - these were two words highlighted by Trade and Industry Minister Chan Chun Sing as key requisites for countries like Singapore and companies such as IBM to continue to grow and flourish.
Speaking at the IBM Think Singapore event on Wednesday , Mr Chan pointed out that the world is facing a “great challenge” today as there are many parts of the world that do not believe in integration. He said the world risks being fragmented, and if this does happen, “we will all be poorer for it”.
On the other hand, the world is a better place if everyone can integrate and optimise their production systems and supply chains, and if ideas can be shared and worked on collectively, the minister said.fell by 14.6 per cent in the second quarter of the year , with exports for electronic products, particularly that of integrated circuits, disk media products and PCs, heavily hit.
On a quarter-on-quarter annualised basis, the Singapore economy shrank 3.3 per cent in the second quarter, adding to existing concerns about a technical recession, which is defined as two straight quarters of quarter-on-quarter contraction.Singapore’s growth forecast for the year has been lowered to between 0 per cent and 1 per cent from the previous estimated range of 1.5 per cent to 2.5 per cent.
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