07 Aug '11, 9am

Are we heading for another recession which 'cannot be helped'?

Finance Minister Tharman Shanmugaratnam has warned Singaporeans of a tough going in the next three to four years with slow growth and even bouts of recession in the most advanced economies. The impact will be felt here and Singaporeans have to be prepared to deal with this, he said during a community event last night. ‘When there is a crisis of confidence in these three major blocks of the world economy, everyone is affected,’ he noted. Mr Tharman is commenting on the economic woes faced by the United States and the falls in stock markets worldwide which is reminiscent of the global financial turmoil in 2008. While he did not rule out the U.S. economy going into a recession, he urged Singaporeans to keep the spirit of consensus and avoid divisiveness to stay afloat in this troubled environment and look ahead with optimism. ‘We have to avoid the problems that we see vividly...

Full article: http://www.temasekreview.com/2011/08/07/tharman-singapore...

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