28 Jan '11, 1pm

Hot-money inflows could cause economies to overheat: Tony Tan

Hot-money inflows could cause economies to overheat: Tony Tan

SINGAPORE : Hot-money inflows could cause economies to overheat and create asset bubbles if they are not well managed, warned Government of Singapore Investment Corp (GIC) deputy chairman Tony Tan. The comments came in remarks he made at an investment panel in Davos. Despite such concerns, he cautioned countries not to impose capital controls that could hurt long-term capital investments. Dr Tan said: "It is important that capital-recipient countries design their capital controls in a way that clearly distinguishes between short-term money and long-term capital. "If governments closed their capital markets to long-term investors, recipient countries will face higher capital costs, while investors will see their opportunity set shrink." In his remarks, Dr Tan highlighted the dichotomy between strong demand for investment capital and a growing reluctance among investors to p...

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

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