Global equities continue to rally as US equities hit new record highs. EM rally centred in Asia is expected to be sustained in 2018. Key markets in China including HK are expected to drive regional equity gains. Singapore is expected to continue its secular slide in significance as its frayed ties with China & notoriety for jinx equity listing performances along with conspicuous silent participatory roles in 1MDB corruption scam & subsequent hub for money laundering.
Indeed Singapore’s longheld strategy to be the regional & global hub for illicit & corruption proceeds laundering has been an open secret since Suharto’s reign when Indonesian tycoons & officials openly stashed slush funds. Such laundering “fame” reached greater heights subsequently when Taiwanese & PRC officials & businessmen sought tax havens & laundering mat for their fortunes. Hence the open promotion & selling of tiny Singapore by its de facto central bank MAS as Asia’s private banking hub in hopes of emulating such post-WWII successes of Switzerland.
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