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Mr. Lee said that Singapore's exports - a key driver of the country's economy - have bounced back, even the comeback is not spectacular. "It (export sector) depends a lot on the U.S., although we trade a lot with China, the ultimate market is really the United States" Mr. Lee said. Singapore, which will host next week's APEC summit, is trying to push forward the free trade agenda, believing open markets are a win-win situation for all. Full Article at CNBC
It (export sector) depends a lot on the U.S., although we trade a lot with China, the ultimate market is really the United States
– All quotes from:
World Not Headed for Double-Dip: Singapore Leader
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US consumers have to save more and spend less ... And the U.S. government also has to save more and spend less which I think is going to very difficult to do. And that is a macro adjustment which is necessary.
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Asia Pacific is a major part of the world economy. It has half the GDP of the world and 10 of the G20 members are APEC members. And if we can work together to sustain growth in the region, which is the theme of the APEC conference this year, then I think it makes a big difference to the world economy.
SOURCE: CNBC -
But beyond that, can you have self sustaining prosperity?
SOURCE: CNBC -
At the same time, on the Asian side, economies like China have to stimulate their domestic demand
SOURCE: CNBC -
The question is whether it can be sustain beyond the government stimulus, because (when) you've pumped so much money in, it is bound to show up somewhere in the GDP numbers
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