Singapore may fare worse than Asean peers in the next global crash

Singapore

SOUTH-EAST ASIA is more vulnerable to a downturn than it was during the last global financial crisis, Bain & Co warned in a report out on Friday.

But Singapore's economy, historically, falls more sharply in a slump, partner Thomas Olsen told The Business Times.

South-east Asia's greater exposure to a slowing China, among other economic shifts, have left Asean more vulnerable in a downturn than during the financial crisis of 2007 to 2009.

"The region's strong economic growth does not, in fact, shelter it from harm should other parts of the world sink into a …