There's scope for more aggressive liberalization.
We should have a fantastic first quarter, especially with the pre-election budget coming in.
It's the relative-competitiveness angle. If China has a currency that is going to appreciate, then your currency becomes more competitive relative to China and your exports should do better.
Singapore being very open tends to be more sensitive.
We started the year on a low note and we are ending the year on a high because all sectors bounced back.
It held up very well across the board. Electronics did very well with the recovery in global demand.
It's not really a broad-based slowdown, ... I find it difficult to be too alarmist.
There is reason to be optimistic because we are seeing some firming of COE prices, suggesting car sales are still quite strong. Given the buoyant economy and jobs growth, retail sales will hold up quite firmly in the fourth quarter.
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