Singapore was the first Asian economy to boom and it is booming once again. In the second quarter of this year its economy was 12.5% higher than in the same period the previous year and its government is fore- casting future growth at 9% per annum. Some of this growth is due to the passing of the SARS crisis but most was down to a 50% increase in pharmaceutical exports. Most of the worlds leading firms now make products in Singapore and its government plans to generate 12 billion a year from this sector by 2010. If this happens, Singapore will avoid recession as jobs in electronics move to China and other low-cost Asian economies.
Question: This impressive growth is due to an incredible increase in pharmaceutical exports.
Options:
A. true
B. false
C. uncertain
Answer: B