05 Feb '12, 3am

Asia expected to do better than rest of the world

Asia expected to do better than rest of the world

SINGAPORE: Singapore's Defence Minister, Ng Eng Hen said Asia's expected to do better than the rest of the world and will increase in strategic weight. He made the point during a panel discussion at the (48th) Munich Security Conference (MSC) in Germany (held from February 3-5.) The conference is a high-level meeting attended by heads of government, defence and foreign ministers, parliamentarians, military leaders and security experts. "According to the International Monetary Fund (IMF), by 2015, Asia will be comparable in size to the economies of the US and Europe combined. By 2030, Asia with its growing middle class will account for more than 40 per cent of global output, exceeding the size of the G-7 economies combined. Developing Asia alone will account for 43 per cent of world consumption at that time," said Dr Ng. At the meeting, Dr Ng reiterated the importance of an...

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

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