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Chinese Econ Won't Collapse: Ex-Singapore PM

Thursday, May 26, 2011

TOKYO (NQN)--Lee Kuan Yew, former prime minister of Singapore, said Thursday China's economic boom is unlikely to end soon, despite concerns about overheating.

Lee made the comment while talking with former Japanese Ambassador to the U.S. Shunji Yanai at the 17th International Conference on the Future of Asia, which took place in Tokyo the same day.

The former prime minister said China's central government should work hard to bring land prices down.

Lee said that he thinks China's economic growth will continue, adding that growth will worsen the country's environmental problems.

Lee said the income gap between people in cities and in rural areas in China would be difficult to close, but that the government's income redistribution efforts could alleviate the problem.

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