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Analyst Pin-board: Next Drivers for Vietnam’s Economy

Let’s remind ourselves of Murphy’s law: “Anything that can go wrong, will go wrong”. These words sort of describe the current changes in the global economy. The latest contraction of Singapore’s GDP growth, a bellwether of foreign trade, not only reflects the expected corollary of the trade war but also draws a gloomy picture for the global economy. Recent surveys point out entrepreneurs’ deepening pessimism over the economy and foreseen business expansion plans. Hence, the rising importance of the visible hand, first noted by economist John Maynard Keynes, could be a blessing. By that we mean a coordinated response from both the monetary and fiscal ‘hands’. Such a response would be unconventional  under the circumstances of limited room to lower interest rates. Nevertheless, that is closely related to the “helicopter money” strategy proposed by former FED president Ben Bernanke