well...as market had speculated....

If you had read the news paper today...Sir David Li if Im not mistaken, the Bank Of East Asia CEO had just came out and say that Malaysia and China would be the least effected by the global economic downfall...

Now...why the hell that Singapore had gone into recession and we're not...?

Simply because we are commodities-natural resources based economy. Singapore is a paper based economy...which much of its trades are export and import and document...not property and all...as equity is a big player in the market(whilst it going downhill now)...SG do not have the commodities and resource as in property,natural resources to cover themselves to begin with...that is why they are in recession...when the trade of export and import goes down...what can SG rely on? Thank god Malaysia had not been dependent on the US currency after the revaluation of Malaysian currency. Hence, their main trade partners are not USA as our policy is to 'look east' as had been set by Dr M himself when he was still in power and still is now.

China is safe...the economy crisis in the world now as Sir David had said is totally down to financial institution had lack of trust among each other...
Why China?...
You have to first understand how the banking system works there...they havnt totally open up their banking(credit card) system yet to foregin companies, they have the Bank Of China and whole lot of other bank which only trade mostly in China...and they have a very powerful buying market power...if USA or Japan and even SG doesnt take their product...they have a huge enough buying-in-masse power in their own country...they do not have to export their product to anywhere else...however, of course the crisis would have some what effect on China...as somehow or rather, USA do export a lot of stuff from China...but it is most likely able to ride out this storm...

I believe when Najib said that 'we should not talk our self into it'...he is trying to say that we are not in need of recession, and although with all the hype and shouts of global crisis and recession...we are not in the stage where we need to declare recession, so dont think that M'sia is not prepared for crisis like this, therefore we are also in recession...why dont u give ur country a benefit of a doubt that we are ready and has a strong hold of our economic sector?...
We shouldn't distrought our economy's situation with untrue forecast that we are in denial that we need to be in recession...its this very 'shout out' of CRISIS and RECESSION that make people who invest take out all the money... ppl taking out all their money just because of US's shit and untrue reports( not all) we are even in this shithole at the first place...when people take away the money...theirs no money to trade with at all...understand this...HOPE FOR THE BEST,PREPARE FOR THE WORST!