SINGAPORE (July 9): It does seem like we are in the midst of a perfect storm, judging by the persistent selloff in global equity markets. We have all the makings of one — with the worsening trade spat, geopolitical risks, global rise in interest rates and falling liquidity as well as inflation that is trending higher. The synchronised global growth narrative has fizzled some. While the US economy is still going strong, growth in many parts of the world has lost momentum.
This economic recovery cycle is, in many respects, long in the tooth. It has been a decade since the global financial crisis in 2007/08.