U.S. to help woo capital back to Asia<\/p>\n
SINGAPORE (AP): U.S. ambassador to Singapore Steven Green said
\nthe recent flight of capital from the Asian region was a key
\nconcern at a gathering of American officials in Singapore, a
\nlocal newspaper reported Saturday.<\/p>\n
"It is obvious that in order to see the region prosper, we
\nwill have to find ways to attract private capital back to the
\nregion," Green was quoted as saying by The Straits Times.<\/p>\n
Green was among several senior U.S. officials who met this
\nweek to review the rapid changes sweeping through the Pacific
\nrim. Those attending included Stanley Roth, the State
\nDepartment's highest official for East Asian affairs, and Admiral
\nJoseph Prueher, Commander in Chief of U.S. forces in the Pacific.<\/p>\n
The officials met Thursday and Friday "to exchange views on
\neconomic, political and security developments in the region,"
\naccording to a U.S. Embassy statement.<\/p>\n
Green said the desire of U.S. businesses and investors to put
\nmoney back into Southeast Asia was "tremendous," but that they
\nwould remain cautious until the region's financial systems were
\nproperly reformed.<\/p>\n
These countries' "many blemishes, previously hidden by double-
\ndigit growth, are now exposed," he was quoted as saying. "Only if
\ngovernments corrected these blemishes would we see capital
\nflowing back."<\/p>\n
He added that it was likely "that the region will have to go
\nthrough a period of political discomfort as well. For example, it
\nis difficult to bring back capital to Indonesia until there is
\nstability."<\/p>\n
Green also noted that the region has been looking increasingly
\nto the United States to help it out of the crisis, and that the
\nU.S. is "committed to providing this leadership."<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/us-to-help-woo-capital-back-to-asia-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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