Economic forecast from the economic, investment and financial
guru Lee Kuan Yew:
MM Lee says Singapore at centre of world’s highest
growth region
February 12, 2008
Minister Mentor Lee Kuan Yew believed Asia
will not go into recession, citing not only strong growth in China
and India, but also the strength of commodity prices boosting
growth in Malaysia, Brunei and
Indonesia.
Speaking to some 1,200 people at the Tanjong Pagar Lunar New
Year dinner on Monday night, Mr Lee said Singapore is at the centre
of the world’s highest growth region, and is in a period of steady
growth.
Mr Lee is also positive that Singapore can maximise its chances to
reach a higher quality of development in the coming five to ten
years.
“This is quite remarkable, for it will be the first time that when the
American economy slows down and reduce imports from Asia, Asia will
not go into recession. The reason is the
dynamics of the domestic growth momentum in China and in India –
two very huge countries. Furthermore, our neighbours are doing
well. Singapore is in the centre of the world’s highest growth
region,” he said.
While some may be lamenting the financial crisis, Mr Lee said he sees a
blessing as property prices have cooled down
for the time being.
The two companies recently invested some S$22 billion into UBS,
Citigroup and Merrill-Lynch.
“When the share prices of these banks recover (the) S$22 billion
investments, it will be worth S$50 to S$70 billion. But never
believe that assets will always go up. There will be downturns. And
so we must have these reserves to see us through these troughs.
Singapore has got to this level through hard work and thrift. We
must continue in this mode,” Mr Lee pointed out.
On the home front, Mr Lee said higher food and energy prices,
and a widening income gap are cause for concern and must be
addressed.
He also said that while there are massive investments, such as
the Marina Barrage, to develop Singapore into a global city, those
living in the heartland housing estates will not be left
behind.
All estates will be upgraded and beautified to ensure all
Singaporeans can benefit from the growth, Mr Lee added. –
CNA/ac
http://luxuryasiahome.wordpress.com/2008/02/12/mm-lee-says
We must all listen to and follow the guru.
He is very wise.
As long as we follow Lee Kuan Yew, we will be wealthy.
