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The regional crisis is far from
over. While its impact on us in 1997 was minimal,
the same cannot be said for 1998. Being at the
heart of South East Asia, we are not isolated
from regional conditions. We have comprehensive
economic linkages with the region and a strong
stake in our neighbours' prosperity. In particular,
our tradable services sectors like finance and
tourism have a strong regional orientation and
will be directly affected.
It is useful to review how the
regional crisis started and spread, assess its
impact on the Singapore economy and businesses,
and identify the measures which the Government,
companies and Singaporeans can take to tide over
this difficult period. |
