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torconfidence."(asianintelligence,july25,2001)

sodonotloseconfidence.donotwalkaroundwithyourhead~aningsolow,asifwehavebeendiagnosedwithagravecondition.wemightbealittleoutofsorts,butitisnotlife-threatening.whentheglobaleconomyrecovers,sowillwe.weshouldthereforekeepouriritsup,andfightoffanygloom.thereisabiggerbattleafterthis.wecansucceedonlyifourmoraleishigh.

thelasttenyears
   letusplanthenextstageofoureconomicclimbevenaswedealwiththecurrentslowdown.

ihadearliergiventhemediaabookletontheprogrewemadeinthe1990s.acopyhasalsobeengiventoyou.

thisrecordofourachievementssetsthecurrentdownturninperective.thelastfewyearshavebeenvolatile--goodgrowthin1997,sharpdownturnin1998,recoveryin1999,10percentgrowthin2000,andnowanotherdownturn.buttakingalongerviewoverthelastdecade,wehavemadecoiderableprogre.

thisshouldgiveustheconfidencethatwecanclimbhigher.wehavestrongfundamentals.wehaveatestedteamofexperiencedministers,m,grarootsandunionleaders,andcivilservants.wehavecapablepeopleintheprivatesectorandaunitedpopulation.andwehavetheresourcestoinvestinnewventuresandcapabilities.

oureconomygrewfasterinthe90sthaninthe80s,deitethe1997asianfinancialcrisis(7.7peraum,asagait7.3).iwasalsoquietlysatisfiedthatwerealisedourvisionofreachingthe1984swistandardoflivinglastyear.in1984,wehadsetthisasatargettobeachievedby1999,butwemieditbyoneyearbecauseofthecrisis.

thegovernmentdistributedbacktosingaporeaagoodpartofthewealthgeneratedfromthisstrongeconomicgrowth.wesharedcloseto$14billionthroughaet-enhancementprogrammesandendowmentfunds.weinvestedinbetterhealthcare,housingandeducation.singaporea''standardoflivingwentupcoiderably.

wealsolivenedupthearts,culturalandleisurescene.twoyearsago,timemagazinedescribedourcitylifeas"funky".morerecently,australia''scaerratimessaidthatsingaporewas"hip"and"cool".

ahh!now,weevenhavefoamparties!1thoughtfoampartieswereforchildren,but1sawpicturesofadultsenjoyingthemselvestoo.thatisallright,solongasthemer

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