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Singapore not master of its own economy
No other country has got that size of external trade. So when the external trade shrinks, remember it is going to hurt us.
CNA news: MM Lee explains Singapore’s long-term investment horizon
Mr Lee explained: “When we invest, we are investing for 10, 15, 20 years. You may look as if you are making a big loss today, but you have not borrowed money to invest. You will ride the storm, the company recovers, your shares go up.”
But he said that Singapore is not a master of its own economy.
He said: “Of all the economies in the world, we have the highest percentage of external trade – three and a quarter times our GDP. No other country has got that size of external trade. So when the external trade shrinks, remember it is going to hurt us.”
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