Western Economists: Singapore, South Korea and Vietnam will become first victims of new US global economic policy
What made Economists arrive at this conclusion was Donald Trump’s election manifesto regarding the revision of international trade contracts. These, among others, include the Trans-Pacific Partnership (TPP), where Singapore, South Korea and Vietnam are involved. Over 40% of TTR countries’ export accounts for the USA, so the establishment of trade barriers will be indeed painful.
For example, trade turnover between Singapore and USA has reached US$75bn a year. This is a substantial amount for a country with a population of 5m.
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