Fwd:

Dear All,

1. Do you agree with George Soro's u/m views, below, please? Why?

2. What do you is the likely related subsequent impact for the Singapore Economy and local property market in Singapore in the immediate near future, please?

3. Thank you.

regards,

Kenneth KOH

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Published October 11, 2010

US should pursue fiscal stimulus, not cuts: Soros (WASHINGTON) Billionaire investor George Soros said that the US economy should pursue more fiscal stimulus instead of joining international efforts to reduce budget deficits. Mr Soros said that spending cuts are the 'wrong consensus' in the current economic environment. He said that the global economy is still not at equilibrium, even though financial markets are functioning again, and US fiscal restraint is limiting the recovery. 'It threatens to push the global economy into a much longer-lasting stagnation than would be necessary,' Mr Soros, chairman of Soros Fund Management LLC, said in a forum at the International Monetary Fund's annual meetings. Mr Soros said that China deserves a stronger voice at the IMF as the fund deliberates how to give emerging-market nations a bigger share of board seats and voting rights. Mr Soros said that China ought to join international efforts to reduce corruption and improve governance in poor countries, especially those with natural resources that could be contributing to prosperity. He said that China's decision to stay out of many international initiatives could be destabilising if widely adopted. 'China in particular feels much more comfortable with bilateral relations' and 'what I call state capitalism as opposed to international capitalism', Mr Soros said. 'As long as China is the only one following that course, it actually derives very substantial benefits, advantages from that. But if everybody does it, it's the end of the multilateral system.' On the subject of international bank regulation, Mr Soros said that there is not yet a solution to the problems caused by financial institutions that are 'too big to fail'. These firms are currently backed by an 'implicit guarantee' from regulators, who now bear increased responsibility to make sure that protection won't be used, he said. -- Bloomberg