SINGAPORE, Jan. 11 (Xinhua) -- The threat of protectionist measures to
global trade and economic recovery has decreased, Singapore's Trade and Industry
Minister Lim Hng Kiang said on Monday.
Lim spoke at the Parliament that the protectionist tendencies is lower
today than they were at the depth of the recession in early 2009, according to
local radio 938 live.
He said that many countries together with the World Trade Organization
(WTO) have put the spot light on protectionism and tracking this very
stringently, adding that peer pressure through Asia-Pacific Economic Cooperation
(APEC) and other forums should keep domestic pressures for protectionism under
control.
On Singapore's economy in 2010, Lim said that the island-state is unlikely
to sink back into recession but economic recovery is expected to be sluggish.
He said that the consumption-boosting effects of government stimulus
packages implemented at the height of the global economic slump are waning and
continued high unemployment in the United States will hurt demand for Singapore
exports.
Singapore's economy is expected to grow between 3 and 5 percent in 2010, in
comparison with a 2.1 percent decline in 2009.