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Singapore GDP Decline Inconsequential

Tuesday, 1 Jan 2008 | 7:51 PM ET

Pharmaceuticals are largely responsible in dragging Singapore's Q4 GDP figures down but is not likely to affect the country's healthy economy or the region says PK Basu, chief economist, Asia ex-Japan at Daiwa Institute of Research, speaking to CNBC's Martin Soong and Sri Jegarajah.