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Economist Abroad: Singapore is showing prosperity amidst uncertainty
Notes from Mike O'Sullivan's latest travels to Singapore - a country where East meets West
Economist Abroad: Singapore is showing prosperity amidst uncertainty
Written by Mike O'Sullivan, Chief Economist
December 12, 2024

Our Chief Economist, Mike O’Sullivan, visits the city where prosperity thrives within a complex geopolitical backdrop.

In his latest reflections, Mike explores Singapore’s unique position between the US and Chinese commercial worlds and highlights its growing allure as a global financial hub.

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Macro Environment

Geopolitically, Singapore sits between the US (investment world) and the Chinese commercial world, so it needs to balance these competing demands. 

Economist’s Observations

I haven't been to Singapore in a couple of years and my sense is that there is more industry here, more high-end hotels and luxury apartments — so the sense is of a city that is gaining even more in terms of allure and elegance. If you wake up early or can't sleep, try an early run in the Botanical Gardens, where the smells, sounds and sights of dawn are spellbinding.

What adds to the charm are the old colonial era buildings — like schools and churches — cowering under the high rise apartment blocks. Chief of these is Raffles, which has recently been refurbished to a very high degree. Any visitors must also try the 'Singapore Sling'. 

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Private Markets in Singapore

Financially, it is a powerhouse and a rival to Switzerland as a world wealth centre. Private assets are well entrenched here, and I was impressed at the range of VC activity. 

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Authors
Mike O'Sullivan, Chief Economist
Chief Economist
Mike O'Sullivan, Chief Economist
Mike is a Chief Economist and Senior Advisor at Moonfare. He has twenty years’ experience in global financial markets, most recently as CIO in the International Wealth Management Division of Credit Suisse. He was also a member of Harvest Innovation Advisory, a senior adviser at WestExec and a board member of the Jane Goodall Legacy Foundation. He has taught finance and economics at Oxford and Princeton, while regularly contributing to numerous journals and media outlets, including Forbes and CNBC. Mike studied in Cork and received MPhil and DPhil degrees at Balliol College, Oxford as a Rhodes Scholar.
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