What does 2013 hold?

The Business Times, Monday, 3rd Dec 2012

What in your assessment are likely to be the key developments in the global economy in 2013 and how will this affect Singapore and the region? What do businesses here need to do to be ready for 2013?

ALL eyes are currently on how the United States is going to avoid the much talked-about fiscal cliff that will hit in January 2013, unless policymakers pass the necessary legislations to circumvent it. This will be a pivotal event that will impact the direction that the rest of the global economy will take. As it is, Europe has just slipped back into a technical recession while growth is continuing to slow in China.

Singapore is certainly not insulated from these events and we need to brace ourselves should economic conditions worsen, because it go could either way. My advice is to be prudent in these uncertain times yet stay cautiously optimistic. Generally, businesses should always have contingency plans in place to address the shorter-term economic events that may unfold, while keeping their long-term plans in view.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd