Asia Economist and CEO, Centennial Asia Advisors

Manu Bhaskaran

Mr. Bhaskaran is a leading Asian economist based in Singapore with more than 30 years of experience in studying economic, political and security issues that shape the business environment in Asia. He co-ordinates the Asian business of Washington DC-based strategic advisory firm, Centennial Group, directing its Asian economic research practice which provides in-depth analysis of macro trends in Asia. He works extensively with investment institutions, government agencies and corporations. Mr. Bhaskaran regularly presents his views on the economic, political and business environment in Asia at business conferences and in-house briefings. He has conducted studies on a wide range of subjects including: consumer finance in Asia; Asian integration; regional and country-specific political and economic outlooks; the Impact of China on Asia; portfolio capital flows in emerging markets, amongst many others. He is as a member of the Regional Advisory Group for Asia and the Pacific of the International Monetary Fund. Mr. Bhaskaran is a regular columnist for The Edge (Singapore) and holds positions in think tanks including being Adjunct Senior Research Fellow at the Institute of Policy Studies (IPS); Vice President of the Economics Society of Singapore, and Council Member of the Singapore Institute of International Affairs (SIIA). Mr. Bhaskaran serves on the boards of CIMB Investment Bank and Japfa Limited.

Asia Economist and CEO

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Macroeconomics

<ul><li>There are nascent signs that some sectors are turning around. Industrial production has reversed its decline, real incomes have risen, tourists have returned while SMEs are more confident. However, these are but tentative signs; a sustained recovery is required.</li><li>But downside risks remain salient: Headline inflation has been weak and could dip further into negative territory as disinflationary trends take hold. Firms in Singapore are also neglecting to build new capacity while non-oil re-exports have faltered.</li><li>Global demand could yet stage a strong recovery year, driving growth in Singapore. However, global capital spending – key to Singapore’s manufactured exports – remains lacklustre due to the uncertainty swirling in the global economy. Retail sales are not rising even with higher real incomes while businesses are grappling with various headwinds.</li><li>Crucially, Singapore needs to uncover new growth engines in order to create new industries for enduring growth and relevance.</li></ul>

There are nascent signs that some sectors are turning around. Industrial production has reversed its decline, real incomes have risen, tourists have returned while SMEs are more confident. However, these are but tentative signs; a sustained recovery is required.But downside risks remain salient: Headline inflation has been weak and could dip further into negative territory as disinflationary trends take hold. Firms in Singapore are also neglecting to build new capacity while non-oil re-exports have faltered.Global demand could yet stage a strong recovery year, driving growth in Singapore. However, global capital spending – key to Singapore’s manufactured exports – remains lacklustre due to the uncertainty swirling in the global economy. Retail sales are not rising even with higher real incomes while businesses are grappling with various headwinds.Crucially, Singapore needs to uncover new growth engines in order to create new industries for enduring growth and relevance.

Singapore: Near-Term Turnaround for the Economy?