Asia likely to avoid deep downturn in a US recession, say analysts | The Straits Times

While the risk of a recession in the United States keeps mounting, chances are that Singapore and most Asian economies will avoid a deep and prolonged downturn. A growing number of economists and policymakers worldwide now see higher odds of a recession in the US, and possibly in Europe as well, in the next six to 12 months. But some are also pointing out mitigating factors that may soften the blow, including resilient consumer demand in developed markets backed by excessive savings. Asian economies, including Singapore, could get more help from a possible counter-cyclical economic recovery in China and the…