^{Friday 9th July 2010}

Singapore may overtake China this year as Asia’s fastest growing economy putting pressure on policymakers to check inflation with a stronger currency.

It is estimated that Singapore’s GDP could grow by as much as 10.8%, while growth estimates for China have been cut to 10.1%. An acceleration in pharmaceutical output and the opening of two casino resorts have boosted growth within Singapore, while its benchmark index has outperformed those in China, Japan, Australia and Taiwan.

In addition, while the China’s Shanghai Composite Index has declined 22% this year, while Singapore’s index has gained 28%, outperforming the Hang Seng in Hong Kong.

Singapore’s manufacturing increased by an average of 45% in the first half of 2010. Pharmaceutical output has at least doubled every month from March to May.

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