Marina Bay central business district in Singapore.
HONG KONG: Morale in Singapore is at rock bottom. The tiny Southeast Asian nation has worked hard in the 51 years since its birth to establish an outsize voice on the global stage. Now the city's economy is in the doldrums and its influence is in question as China flexes its muscles.
The Lion City is heading for a recession, or two straight quarters of economic contraction, after the trade-reliant economy shrank 2% in the July-September quarter. Overall this year, the government reckons growth will be no faster than 1.5%.
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