Praise for Singapore & Malaysia economies, leadership
Lutts is enthused by what he saw on a 10-day Southeast Asia tour. Singapore’s economy, he says, rises and falls alongside global trade volumes with its dominance in financial services, insurance and property management. Its busy port also serves as a ship management and repair hub. Singapore’s leaders are “very savvy… really great business leaders” with policies that help drive the economy.
While he thinks Malaysia’s drive to achieve developed nation status by 2020 is “a tall order”, he believes the government’s policies are on the right track, are “constructive to capital development” and will grow GDP somewhat.
Inflation remains a major concern for governments right across Asia with no signs of success yet, he says, but hopes that higher wages will help drive inflation. He also thinks Asia offers some lessons for the US: governments that destroy capital will see investment go elsewhere, while Asia’s leaders seem to know how to balance budgets and keep debt to a minimum.
source & article: International Business Times
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