Singapore Facing Economic Stagnancy As Trade War Escalates

As tension escalates between China-US trade relations, the Singaporean government today slashed its economic growth forecast to a range of 0.0% to 1.0% of GDP, a far cry from the original figures of 1.5% to 2.5% at the start of the year. The key factor behind this stark outlook for the economy ahead is a plunge in non-oil exports, with wholesale and retail trade contracting 7.9% from the same period a year earlier, owing to the enormous decrease in trade-related traffic from both China and the US, Singapore’s two largest trading partners. Commonly regarded by economists and financiers as the archetypal “canary in the coal”, Singapore’s poor economic performance is a harbinger of the gloomy prospects for the global economy, particularly for trade in consumer retail goods, as currently there is no foreseeable end to the tit-for-tat actions of incremental tariffs, currency fluctuations, export bans and other areas of policy skirmishes between a blustering Trump administration and an increasingly resistant China. 

In such a hostile trading environment, it is absolutely key that businesses everywhere minimise their costs in order to prevent a fallout in their bottom line. Cutting inventory costs, keeping goods affordable, is the best way to ensure success, and this is where Tailormax Stockloter excels. Stockloter.com is your one-stop-shop for the best savings on apparel, garment accessories, home textiles and household supplies, as well as a range of other goods for wholesalers. We only buy stocklots direct from factory warehouses, with no other third party intermediaries involved in our sourcing process, to make sure that our clients have access to the best value price for whatever stocklots they are purchasing, that is our customer service guarantee. 

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