He said that Singapore is placed at the junction of three big economies that are not export-dependent, namely China, India and Indonesia, whose domestic consumption and investments have enabled their economies to continue achieving positive growth despite a slowdown in exports. "The rest of East and Southeast Asia have the benefit of the overflow effect from China, India and, to a lesser extent, Indonesia. Furthermore, we have free trade agreements with China and India that will give us an advantage over other regions." Lee said. In the first quarter of this year when Singapore experienced a sudden drop in exports, Singapore had expected the economy to shrink by up to 9 percent. Full Article at People's Daily Online