GIC official frets over US credit risk

Investing in the US capital markets has never been more necessary - or more risky, says Singaporean official.

At a conference for Asian government pension funds held in Tokyo this week, a senior government official from Singapore's $100 billion-plus Government Investment Corporation GIC expressed his concern about the sustainability of the United States' macroeconomic policy, outlining how this posed a major risk for Asian investors.

Teh Kok-Peng, president of GIC Special Investments, says the need for diversification and superior investment returns has driven Asian institutions to invest heavily in US securities. This is because...

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