![Is a great storm coming? Is a great storm coming?](/sites/economics.smu.edu.sg/files/news/soenews2_83_26.jpg)
In his weekly commentary, SMU Adjunct Faculty Larry Haverkamp discussed the possibility of another great depression in the making. He noted that falling stock prices are not serious enough to cause a recession, but stressed that a collapse of housing in China could do it. He added that a downturn in China would affect Asia most and the hardest hit in Asia would be Singapore.