S’pore businesses expect to be hit harder by fragmenting global trade links: WEF report

Quick Summary:

64% of Singapore employers expect their business to be impacted by geoeconomic fragmentation, twice the global average .

Already, 97 per cent of organisations here that the WEF surveyed are running artificial intelligence (AI) software on some level, outstripping the 88 per cent global average.

Moreover, the WEF found an elevated structural labour market churn of 28 per cent is expected over the next five years in Singapore, versus 22 per cent globally.

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Article Details

Author / Journalist: Tay Hong Yi

Category: EconomyBusiness

Markets: SingaporeChinaSouth Korea

Topics: Expect Report Cent Business Average Jobs Employers Economies Singapore Global Fragmentation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-08 @ 19:55:00 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 830 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24974780

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