Reuters
30 Apr 2008
SINGAPORE, April 30 (Reuters) - The United States is probably in a recession and the Singapore economy will be more severely affected if the turmoil in global financial markets worsens, Singapore's prime minister said on Wednesday.
The Southeast Asian country was ready to respond if the situation in the United States worsens, said Lee Hsien Loong in a statement to mark May Day.
"Dark storm clouds have gathered... A U.S. recession has probably already started," Lee said.
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