And then claims that he and his butch-in-law achieved "max gain with min risk". What a blatant LIAR! Then he proceeded to second guess China and bootlicked Uncle Sam's ass. What a shameless pimp!
<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published September 11, 2008
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Different strokes for different SWFs: MM Lee
He says each is unique and driven by different goals
By LEE U-WEN
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(SINGAPORE) While some may regard sovereign wealth funds (SWFs) around the world as similar outfits with overlapping motivations, Minister Mentor Lee Kuan Yew prefers to look at each one as a unique entity with its own individual goals.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Mr Lee: He says that China uses its investments in other countries to learn how other economies and companies work, and that it would be a grave mistake to believe that the US was a country on the decline </TD></TR></TBODY></TABLE>Take oil-rich Saudi Arabia, for instance. It has oil that can last it more than a hundred years. So it thinks: Let's see what we can do with all this money.
Norway, on the other hand, is small with a population of just four million people and takes a very cautious approach with its investments.
'Norway is in a happier position than us. They have enormous chunks of real estate. They can afford to take a conservative view. When we compare notes with Norway, we're surprised at how low their returns are. They take very low risks,' said Mr Lee yesterday during an hour-long dialogue at the Forbes Global CEO conference, which was moderated by publishing magnate Steve Forbes.
Speaking to a 450-strong audience at the Shangri-La Hotel, Mr Lee also discussed China's motives in investing heavily in other countries. It uses its investments to learn how other economies and companies work.
'The Chinese, for the moment, they want to learn how the economy works. How does this bank or investment bring about returns, and what we can learn from them,' he said. 'Their motivation is not to try and do other economies in. They own US$1.6 trillion worth of assets, most of it in treasuries. To do others in is to do themselves in.'
On Singapore's part, the government has constantly said that its two state-owned investment firms - the Government of Singapore Investment Corporation and Temasek Holdings - make portfolio decisions without any political agenda or non-commercial goals.
=> Familee retirement goals?
'I think we have to realise that each country has its own set of circumstances and motives. In the case of Singapore, it's quite simple. We just want to maximise the returns with minimum risk,' said Mr Lee.
=> Is this a joke or shameless LIE?
He recalled one meeting he had years ago with former US Treasury secretary Larry Summers, who wanted to know why Singapore had such a huge reserve that was not being used.
=> Peasants being sucked dry to fatten the Familee's piggy bank?
To which Mr Lee replied: 'I said to him, you look at my neighbours, they have oil, gas, forests, rivers, palm oil, plantations. I've just got this island and human beings. When we run into a down cycle and run into deficits, who's going to lend me anything? So I better put something in the bank.'
=> Note: It's his Familee that he's concerned with. Since when have they dipped into the reserve to help the Peasants during ALL the past recessions? Instead they sucked even harder from the Peasants!
His views came just a day after Prime Minister Lee Hsien Loong spoke at length on SWFs, urging the United States to regard investments from overseas as something positive rather than a threat. He argued that the US should resist having xenophobic attitudes that could scare away foreign investors.
=> Son's words carry no weight outside of Peesai, so need to cum in to support his rotten ass?
At yesterday's dialogue, MM Lee also spoke on the role of China in the global economy, this after he visited the capital Beijing to attend last month's Olympic Games opening ceremony.
'The Chinese realise they need 30, 40, maybe 50 years to catch up to the standards of a modern, industrial society,' he said. 'The Olympics was just a demonstration of their potential, and not of their present strength. China had seven years to prepare. It's one thing having their people all dressed up, speaking English, being friendly and queuing up, it's another thing to change their habits permanently.'
On the weakening US economy, he said it would be a 'grave mistake' to believe that the US was a country on the decline. 'I've seen the US economy bounce back many times. It's the most dynamic of all systems. I would say a long-term bet for the next 30-50 years is that they are still the leading economy, and still the power with the highest technology, probably unmatched by any country.'
=> Did he not say how useless liberal democracy is recently? Suffering from amnesia like Wooden?
</TD></TR></TBODY></TABLE>
<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published September 11, 2008
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Different strokes for different SWFs: MM Lee
He says each is unique and driven by different goals
By LEE U-WEN
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>(SINGAPORE) While some may regard sovereign wealth funds (SWFs) around the world as similar outfits with overlapping motivations, Minister Mentor Lee Kuan Yew prefers to look at each one as a unique entity with its own individual goals.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Mr Lee: He says that China uses its investments in other countries to learn how other economies and companies work, and that it would be a grave mistake to believe that the US was a country on the decline </TD></TR></TBODY></TABLE>Take oil-rich Saudi Arabia, for instance. It has oil that can last it more than a hundred years. So it thinks: Let's see what we can do with all this money.Norway, on the other hand, is small with a population of just four million people and takes a very cautious approach with its investments.
'Norway is in a happier position than us. They have enormous chunks of real estate. They can afford to take a conservative view. When we compare notes with Norway, we're surprised at how low their returns are. They take very low risks,' said Mr Lee yesterday during an hour-long dialogue at the Forbes Global CEO conference, which was moderated by publishing magnate Steve Forbes.
Speaking to a 450-strong audience at the Shangri-La Hotel, Mr Lee also discussed China's motives in investing heavily in other countries. It uses its investments to learn how other economies and companies work.
'The Chinese, for the moment, they want to learn how the economy works. How does this bank or investment bring about returns, and what we can learn from them,' he said. 'Their motivation is not to try and do other economies in. They own US$1.6 trillion worth of assets, most of it in treasuries. To do others in is to do themselves in.'
On Singapore's part, the government has constantly said that its two state-owned investment firms - the Government of Singapore Investment Corporation and Temasek Holdings - make portfolio decisions without any political agenda or non-commercial goals.
=> Familee retirement goals?
'I think we have to realise that each country has its own set of circumstances and motives. In the case of Singapore, it's quite simple. We just want to maximise the returns with minimum risk,' said Mr Lee.
=> Is this a joke or shameless LIE?
He recalled one meeting he had years ago with former US Treasury secretary Larry Summers, who wanted to know why Singapore had such a huge reserve that was not being used.
=> Peasants being sucked dry to fatten the Familee's piggy bank?
To which Mr Lee replied: 'I said to him, you look at my neighbours, they have oil, gas, forests, rivers, palm oil, plantations. I've just got this island and human beings. When we run into a down cycle and run into deficits, who's going to lend me anything? So I better put something in the bank.'
=> Note: It's his Familee that he's concerned with. Since when have they dipped into the reserve to help the Peasants during ALL the past recessions? Instead they sucked even harder from the Peasants!
His views came just a day after Prime Minister Lee Hsien Loong spoke at length on SWFs, urging the United States to regard investments from overseas as something positive rather than a threat. He argued that the US should resist having xenophobic attitudes that could scare away foreign investors.
=> Son's words carry no weight outside of Peesai, so need to cum in to support his rotten ass?
At yesterday's dialogue, MM Lee also spoke on the role of China in the global economy, this after he visited the capital Beijing to attend last month's Olympic Games opening ceremony.
'The Chinese realise they need 30, 40, maybe 50 years to catch up to the standards of a modern, industrial society,' he said. 'The Olympics was just a demonstration of their potential, and not of their present strength. China had seven years to prepare. It's one thing having their people all dressed up, speaking English, being friendly and queuing up, it's another thing to change their habits permanently.'
On the weakening US economy, he said it would be a 'grave mistake' to believe that the US was a country on the decline. 'I've seen the US economy bounce back many times. It's the most dynamic of all systems. I would say a long-term bet for the next 30-50 years is that they are still the leading economy, and still the power with the highest technology, probably unmatched by any country.'
=> Did he not say how useless liberal democracy is recently? Suffering from amnesia like Wooden?
</TD></TR></TBODY></TABLE>
