HAVE you ever wondered why the global economy has remained remarkably resilient since the 2008 Global Financial Crisis (GFC) – almost unstoppable, except for the unprecedented supply shock during the Covid-19 pandemic? While monetary easing, fiscal expansion and productivity gains from artificial intelligence (AI) are frequently cited, in our view one foundational pillar has been liquidity – abundant and persistent.

Source: The Star February 28, 2026 00:59 UTC