26 Jan '11, 3pm

More competitive US unlikely to be a threat to Asia: SINGAPORE : A more competitive US economy is unlikely to be...

More competitive US unlikely to be a threat to Asia: SINGAPORE : A more competitive US economy is unlikely to be...

SINGAPORE : A more competitive US economy is unlikely to be a threat to Asian countries. That's the view of economists who were reacting to the plans unveiled by US President Barack Obama in his State of the Union address to boost his country's competitiveness. As the US seeks to increase its exports, observers believe this could lead to more free trade agreements in the Asia Pacific region. President Obama's blueprint for the US economy calls for a spending boost for education and clean energy. His address also talked about investing in infrastructure, such as high-speed rail and Internet networks. Even as Mr Obama proposes to spend more to boost America's economic competitiveness, he intends to freeze non-defence discretionary spending. "At stake is whether new jobs and industries take root in this country, or somewhere else. It's whether the hard work and industry of ou...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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