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China’s economic rise will benefit Singapore, says Credit Suisse

Singapore stands to benefit from its close economic and cultural links with China, if China overtakes the United States as the world's largest economy. That is the view of Credit Suisse's head of global research, Giles Keating.

SINGAPORE: Singapore stands to benefit from its close economic and cultural links with China, if China overtakes the United States as the world's largest economy.

That is the view of financial services company Credit Suisse's head of global research, Giles Keating.

Statistical agencies have forecast that China will overtake the US as the world's largest economy this year -- sooner than expected.

Mr Keating said that if this forecast holds true, China will become an even more important trading partner and market for Singapore and the region.

However, he said Singapore should not be solely oriented towards China at the expense of other trading opportunities.

Mr Keating said: "It does mean a continued openness to trade with China, to really building all the service networks, to being aware also that there is a competitive situation, for example, in financial services and some other services.

“So China is... a major market for Singapore. It is also in some areas... perhaps in future, (a) competitor. And that needs to be handled in a very constructive way." 

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