US woes' effect on Asia short-term: S'pore PM
Monday, August 20, 2007
THE turbulence in the US and European financial markets may affect Asia over the next three to six months, but the fundamentals in Asia remain strong, Singapore Prime Minister Lee Hsien Loong said yesterday.
"There is optimism all over Asia," he said.
Countries belonging to the Association of Southeast Asian Nations (Asean) are benefiting from a strong Asia and high energy prices, Lee said in his National Day Rally speech.
Singapore has taken over the Asean chairmanship and the focus will be on making the grouping "stronger and more integrated," Lee said.
"This is so that Asean can keep pace with China and India and not be left behind."
The city-state's ties with its closest neighbours, Malaysia and Indonesia, are good, with Singapore cooperating with both countries in many areas on a "win-win basis".
Acknowledging there are some outstanding issues with both countries, he said Singapore will deal with them in the broader context of its overall relationship.
Lee also focused on Singapore's widening income gap and preparing for the rapidly ageing population.
The government is implementing changes to make the economy vibrant and competitive, he said. Upgrading skills and keeping employees in the workforce longer are essential factors.
Starting in 2012, employers will be expected to rehire workers after 62 under different terms and possibly in less senior positions.
DPA
"There is optimism all over Asia," he said.
Countries belonging to the Association of Southeast Asian Nations (Asean) are benefiting from a strong Asia and high energy prices, Lee said in his National Day Rally speech.
Singapore has taken over the Asean chairmanship and the focus will be on making the grouping "stronger and more integrated," Lee said.
"This is so that Asean can keep pace with China and India and not be left behind."
The city-state's ties with its closest neighbours, Malaysia and Indonesia, are good, with Singapore cooperating with both countries in many areas on a "win-win basis".
Acknowledging there are some outstanding issues with both countries, he said Singapore will deal with them in the broader context of its overall relationship.
Lee also focused on Singapore's widening income gap and preparing for the rapidly ageing population.
The government is implementing changes to make the economy vibrant and competitive, he said. Upgrading skills and keeping employees in the workforce longer are essential factors.
Starting in 2012, employers will be expected to rehire workers after 62 under different terms and possibly in less senior positions.
DPA
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