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This surge in business confidence is manifested in several sectors, the property market as well as the Straits Times Index (STI) is at valuation levels last seen in 1995 ~ 1996. (http://www.abcmoney.co.uk/news/102007100154.htm )
Since Singapore is largely manufacturing-led (35% of GDP) and export driven, it is tied to global economies especially the US and regional economies such as India and China and other ASEAN countries (Malaysia, Thailand, Indonesia, Vietnam, Philippines, Myanmar and Cambodia). While there are signs of a slow-down in the US or at the least a “Goldilocks” soft-landing, the affect on Asia will not be like the 1997 financial crisis...
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