Threat of protectionist measures decreases: Singapore Minister
www.chinaview.cn 2010-01-11 19:05:02   Print

    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.

Editor: Wang Guanqun
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