SINGAPORE (May 14): The cyclical uplift in the global economy is set to continue, generating ever-growing trade flows that will boost Asian economies. That is good news for economic growth in the near term. What matters for Asia’s long-term economic development, however, is foreign direct investment (FDI), which can build the foundations of future growth through skills development, technology transfer, provision of financial capital, integrating a country into global export markets and exposing it to global competition, which spurs continuous upgrading. FDI is important even for the more developed Asian economies such as Singapore.

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