Blog yOur Mind

Worst of Economic crisis over, say WEF

Posted on: June 19, 2009


Bernama – Friday, June 19

KUALA LUMPUR, June 18 (Bernama) — The worst of the economic crisis may be over for Asia and the rest of the world but many risks remain, said leaders at the 18th World Economic Forum (WEF) on East Asia, which opened in Seoul today.

In a statement here today, the WEF said the leaders urged governments to formulate an exit strategy to mop up excess liquidity from stimulus programmes and avoid trade protectionism, strike a correct balance between regulation and flexibility and use the crisis to move strongly on regional integration.

Singapore’s Minister in the Office of the Prime Minister, Lim Hwee Hua, said there were growing consensus that the worst was over and even signs of bottoming out, and even hints at recovery in some economies.

She said, however, as governments moved out of the woods, they needed to be mindful of how recovery was taking place.

Khazanah Nasional Malaysia Bhd’s managing director, Tan Sri Azman Mokhtar, however, counselled caution because the economic recovery in Asia was mixed.

“The measures that have been instituted, which are basically to reflate, have indeed reflate, but these can also potentially turn into poison in the long run unless we know how to handle the situation,” he said. — BERNAMA

PHR THS

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

WHEN NOTHING GOES RIGHT, go left

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 56 other followers

DISH MENU

PREVIOUS MENU

CASHIER COUNTER

  • 268,884 UFOs
%d bloggers like this: