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SINGAPORE: Singapore Minister Mentor Lee Kuan Yew said that the growth of twin giants China and India will result in a new world order, even if in the absence of a global financial crisis.
Speaking on Monday at a dialogue held at the National University of Singapore on the topic - "What will the next 50 years have in store for Singapore?" - Mr Lee said that the recent financial turmoil had possibly accelerated the pace of growth for the two countries.
He pointed out that China was growing at between 8 and 11 per cent a year, while the United States was growing a mere 2 to 3 per cent. However, he stressed that it does not mean the US will take a back seat in the new world order.
"I do not think the Americans are finished. I think they are still a dynamic economy. If we look at the past records, they are the most flexible, most entrepreneurial and willing to re-emerge in new forms," Mr Lee said.
A special on the dialogue, called "Singapore - the next 50 years", will be aired on Channel NewsAsia at 8.30pm on Wednesday, October 21.
- CNA/sc
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