19 Jul 2008
July 19 (Bloomberg) -- Government of Singapore Investment Corp. expects the current slowdown in the global economy to last longer than the 2000 slump, the Straits Times said, citing the sovereign wealth fund's Chief Investment Officer Ng Kok Song.Ng said financial companies in the U.S. and Europe are cutting their exposure to risky loans and assets and this will weigh on the global economy, the Singapore-based newspaper reported. This means the slump will last longer than the previous downturn, which was sparked by a collapse in the technology bubble in 2000, the report said.
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