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Politics : Formerly About Applied Materials

AMAT 256.89

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Dec 31 3:59 PM EST

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To: StanX Long who wrote (61017)	2/27/2002 2:57:29 AM
From: StanX Long	Read Replies (1) of 70976

Singapore deputy PM links Asian recovery to Japan Wednesday February 27, 12:45 PM sg.news.yahoo.com SINGAPORE (Reuters) - Singapore's Deputy Prime Minister Lee Hsien Loong said economic recovery in Asia will depend on the success of Japanese reform efforts. "We are all feeling the impact," Lee, also chairman of the Monetary Authority of Singapore, said in an interview with the International Herald Tribune on Wednesday. "Japan's protracted weakness has been a significant drag through reduced trade, investments and tourism. It is powerfully in Southeast Asia's interest to see Japan's economy recover." Singapore, grappling with its most severe downturn since 1964, will publish 2001 gross domestic product data on Thursday. Official estimates forecast a contraction of 2.2 percent, but Prime Minister Goh Chok Tong said in a Lunar New Year Message that recovery hopes were in sight. The government recently revised growth expectations for 2002 to 1.0 to 3.0 percent, up from minus 2.0 to plus 2.0 percent. The trade-driven city state, whose exports make up about 70 percent of GDP, signed a free trade deal with Japan in January. "A reorientation of Southeast Asia's economic linkages toward China is inevitable," Lee said. "But Japan is still the world's second-largest economy."

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