Asian Countries To Lead World Economy

Asian countries to lead world economy

BANGKOK: -- Asian economies are growing, led by China, Japan and India, and will play more significant role on the world economy, visiting Singapore Senior Minister Goh Chok Tong said here on Thursday.

Mr. Goh, who was also a former prominent Singapore prime minister, said that the growing Asian economy, led by China, Japan and India, would become a world economic spearhead in the future.

China, Japan and India could, particularly, soon become world economic giants, like the United States and the European Union (EU), due to their expanding growth and self economic reliance with greater competitiveness, he noted.

The Singapore senior minister warned, however, that growing competition among Asian countries could cause economic disputes.

Mr. Goh viewed that Southeast Asian economies, including Singapore, Malaysia, Vietnam and Thailand, are also significantly expanding and attracting large-sclaed and modern investment projects.

The expanding Southeast Asian economies would become a major drive for steady growth and prosperity of the Asian economy as a whole, he projected.

The Singapore former prime minister is visiting Thailand this week to attend the 15th Asian Corporates Conference, held in Bangkok on 9-10 June.

Major economic issues, including regional and world economic prospects and the global energy situation, are discussed at the two-day seminar, in which 800 Thai and foreign participants take part.

Impacts of the last December tsunami on regional economies are also raised at the international conference.

The visiting Singapore senior minister and Prime Minister Thaksin Shinawatra held a private meeting here yesterday.

--TNA 2005-06-10