06 Aug '11, 2pm

[News] DPM Tharman warns about slow economic growth: SINGAPORE: Deputy Prime Minister Tharman Shanmugaratnam has...

SINGAPORE: Deputy Prime Minister Tharman Shanmugaratnam has sounded a warning about the world economy. Mr Tharman, who is also the Finance and Manpower Minister, was speaking after a day of market turmoil worldwide. With a global crisis looming, he said advanced economies will be able to scrape through but the next few years will likely see slow growth and occasional recessions. Mr Tharman said: "We have to accept this as the reality of the world. Fortunately, Asia is doing well and China is achieving a soft landing in its economy. Southeast Asia and India are still by and large doing well but we will all be affected by the slowdown and troubles in Europe, the US and Japan." Mr Tharman was speaking at the National Day celebrations in Bukit Batok. He said for Singapore to stay afloat, there are four important priorities. They are: to keep a spirit of consensus in politics; ...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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