Trump winning would slow global growth, Singapore’s state-owned investor warns

Singapore’s state-owned investment firm is warning that a Donald Trump election victory might not necessarily be a plus for the world economy and financial markets.

A Trump administration would lead to slower global growth that would eventually affect US companies, according to Temasek International’s Chief Investment Officer Rohit Sipahimalani.

“I know the conventional wisdom and consensus is that right now a Trump presidency is better for markets,” Sipahimalani said on Tuesday in an interview, citing hopes for lower taxes and more deregulation. “But as you look out to 2025, the picture is not that clear.”

Investors around the world are on edge ahead of next week’s US presidential election. A victory for Trump would be more beneficial for investors holding stocks and Bitcoin relative to his Democratic opponent Kamala Harris, according to the latest Bloomberg Markets Live Pulse survey.

Sipahimalani said that while a Harris win would be beneficial for emerging markets, the opposite is likely under a Trump victory.