Lee warns of lengthy downturn

Bangkok Post, 28 Feb 2009, PICHAI CHUENSUKSAWADI

Singapore Prime Minister Lee Hsien Loong has warned that the world could easily be in for several more years of slow economic growth unless the core cause of the crisis - the US banking system - is resolved.

In an exclusive interview with the Bangkok Post prior to the 14th Asean Leaders Summit in Cha-am, Mr Lee said although US President Barack Obama recently unveiled a US$787 billion stimulus package, there are "no good solutions" to the core cause of the crisis.

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