Remember the famous lines from William Yeats that many of us must have come across in our schooldays: “Things fell apart. The centre did not hold. Mere anarchy was loosed upon the world…” We are left to guess what happens next. I believe none of us has the oracular capacity to precisely say what’s next.
One can only state that world economic outlook is what it is, given the political developments in recent months. A couple of days ago, the UK slashed its growth rate for 2016 drastically. Singapore published a significant contraction of its third quarter GDP for 2016. Many of us here must be aware that the world economy is growing below its potential.