>http://www.cnn.com/2001/BUSINESS/asia/10/12/singapore.stimulus.biz.reut/ind
ex.html
Such a judgement seems a bit premature, since it implies efficacy before results are in. Managing fiscal policy for a city state is a bit different than the world's number two economy. And if any group in the world would spend the money the same way as the Japanese, I would bet it was the conservative, pro-business Chinese, Malaysians and Indians who run Singapore.
Friends in Malaysia wonder why, when PM Mahathir does the same thing, he gets condemned by the World Bank and the IMF.
Charles Jannuzi