China's GDP To Expand 8% In '09, India's 6%: Lee Kuan Yew

Friday, May 22, 2009

TOKYO (Nikkei)--China's gross domestic product will likely grow this year by 8% and India's by 6%, said Lee Kuan Yew, minister mentor of Singapore, here on Friday at the annual Future of Asia forum.

Lee, the first-ever prime minister of the city-state, said that China and India will expand at those rates thanks to rising domestic demand, rather than due to exports to the U.S.

The minister mentor added that the two populous nations must invest in infrastructure, and that Chinese inland areas could provide a ready market for durable goods produced on the eastern seaboard.

Titles of speakers, names of companies, etc., were correct as of the time when the forum was held.