The full-year results of the three Singaporean banks tell us plenty about the challenges that are facing institutions in the shadow of the US-China trade war.
Singapore was always likely to be a bellwether for the impact of issues in global trade. It is the ultimate hub, for everything from shipping to private banking; it is a place of ease through which things both physical and virtual move. Any dent in the willingness of people to transact is going to hit Singapore.
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