Singapore's super-tight relations with China may be causing a little repercussion right now as the country faces a slowdown, dragging Asia as well in its wake. Since Singapore benefitted the most during China's gigantic leaps in economic growth, our little city-state stands to be most vulnerable in Southeast Asia right now, reports Bloomberg. China is Singapore's largest export destination — taking nearly 15 percent of shipments — and that means Singapore could be the worst hit in the region.
Estimates by Australia & New Zealand Banking Group Ltd (ANZ) have shown that a 1 percentage point fall in China's economic growth subtracts 1.4 percentage points from Singapore's.