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| + | == Singapore PM criticizes U.S. `game of chicken' == | ||
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| + | <html>General Electric talks long-term growth | ||
| + | The U.S. government is also facing an October 17 deadline to raise its debt ceiling or risk a possible default. | ||
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| + | Prime Minister Lee said he was more worried about the long-term message the U.S. was sending than the prospect of a direct hit to U.S. growth. | ||
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| + | Asked if the U.S. would benefit from a system like Singapore's -- where government ministers are paid hundreds of thousands of dollars in salaries -- Lee said he believes his country runs a clean system in which officials are paid "what their job is worth." | ||
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| + | He criticized the conflicts of interest that result from the "revolving door" between the United States government and the private sector. Lee is paid more than $1 million to serve as Singapore's prime minister. | ||
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| + | Singapore is heavily dependent on exports and trade, so the fate of the city-state is closely linked with the health of the U.S. economy. Both Singapore's property and stock markets have boomed over the last few years as investors flooded in seeking higher returns thanks to loose liquidity from the U.S. Federal Reserve and China. | ||
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| + | The prime minister said he is comfortable with Singapore's footing as the United Stated considers turning off the flow of easy money. | ||
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| + | "The emerging economies,[http://www.xinlanzhou.com/forum.php?mod=viewthread&tid=577026&fromuid=15116 Neymar sparks Barcelona as Cristiano Ronaldo rescues Real Madrid</ a>, many of them are concerned. They didn't want the money to slosh in. They are afraid when the money sloshes out, but the tapering has to take place and we have to be able to manage it," Lee said. | ||
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