MM Lee says China and India growth will result in new
world order
SINGAPORE: Singapore Minister Mentor Lee Kuan Yew said
that the growth of twin giants China and India will result in a new
world order, even if in the absence of a global financial
crisis.
Speaking on Monday at a dialogue held at the National
University of Singapore on the topic - "What will the next 50 years
have in store for Singapore?" - Mr Lee said that the recent
financial turmoil had possibly accelerated the pace of growth for
the two countries.
He pointed out that China was growing at between 8 and 11 per cent
a year, while the United States was growing a mere 2 to 3 per cent.
However, he stressed that it does not mean the US will take a back
seat in the new world order.
"I do not think the Americans are finished. I think they are still
a dynamic economy. If we look at the past records, they are the
most flexible, most entrepreneurial and willing to re-emerge in new
forms," Mr Lee said.
A special on the dialogue, called "Singapore - the next 50 years",
will be aired on Channel NewsAsia at 8.30pm on Wednesday, October
21.
- CNA/sc