S'pore could benefit as Chinese economy stabilises

After China's bumpy road to recovery in 2023, economists are cautiously optimistic that the country's economy will stabilise and gradually rebound in 2024 despite risks such as deflationary pressures and continued weakness in the property sector. NTU economics professor Tan Kong Yam said Singapore's exports of electronic components to China should also recover in 2024 on the back of returning electronics demand. Prof Tan said that China's push for greater self-sufficiency in technology amid a trade war with the United States is unlikely to dampen its demand for components from Singapore. The Republic's electronics exports do not fall within the scope of this self-sufficiency drive as they are not of a sensitive nature and are unlikely to be caught up in tensions between China and the US, he noted.

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