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Wednesday, 12 October 2011

Repeat of 2008 credit crisis not likely: DBS economist

By Robin Chan

The euro zone sovereign debt crisis is unlikely to lead to a credit crunch that saw trade collapse in Asia in 2008, said DBS economist David Carbon.

'Markets have had 18 months to figure out who they can trade with. So we are unlikely to have the same ferocious snap we did in 2008,' said Mr Carbon, managing director for currency and economic research at DBS.

He was speaking at a media briefing at DBS headquarters.

'Asia's not immune, but it's not going to be 2008 all over again.'

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