Lee denies
Singapore wants to do HK in
Xinhua. February 21,1999.
SINGAPORE Minister Lee Kuan Yew Saturday dismissed as "absurd"
media blitz that Singapore wants to do Hong Kong in and stamp on Hong Kong
when it is down, local media reported Sunday.
He said Singapore and Hong Kong will always both cooperate and compete in the nature of their relationship and the success of one is a spur to the greater success of the other.
Lee also pledged that Singapore would not denigrate Hong Kong or aggravate its problems.
The senior minister made the point in his speech to some 500 grassroots leaders at a Chinese New Year dinner at Tanjong Pagar Community here Saturday night.
Lee attributed the media blitz to the stressful situation in the Asian region as a whole and especially in Hong Kong, saying stress over Hong Kong's situation had fanned the "absurd" media frenzy over rivalry between Singapore and Hong Kong.
"The western media, on the other hand, played up the competition between Hong Kong and Singapore, accentuating the rivalry in order to prod Hong Kong toward more free-market policies that they favor," he said.
Far from wanting to do Hong Kong in, Singapore would like it to succeed as a successful Hong Kong would spur and benefit Singapore, he stated.
"A successful Hong Kong is a multiplier for Singapore's economy," he added.
The senior minister said: "Singapore had learnt from Hong Kong's example and was liberalizing its financial sector to keep pace with New York, London, Tokyo, Frankfurt and Hong Kong, not to do Hong Kong in."
"We wish Hong Kong well, and will continue to be helpful wherever we can," he said.
The senior minister said he and Hong Kong Chief Executive Tung Chee Hwa met fruitfully during the World Economic Forum meeting in Davos, Switzerland, last month.
He said he found Tung is optimistic about Hong Kong's prospects, confident that Hong Kong would overcome its present difficulties.