It is always a concern, especially if it leads to higher interest rates as central banks deal with inflationary pressures. The question is how would that impact on consumption?
The whole objective is to improve corporate governance and the banking sector is first because it is a key sector.
It's not a disaster because you know this sector (pharmaceuticals) is very volatile. It's not a trend.
He has laid out a long-term plan for the economy and he's trying to get everybody on board. The speech was to rally people to his plan of making Singapore a world-class city with a world-class service center.
There's room for the yuan to move faster, China isn't likely to bow to international pressure. It's probably a face issue, it's a matter of timing.
I would say it's more within my expectations.
