Singapore minister slams SWF "backlash"

Goh Chok Tong, a senior Singapore minister and chairman of the country's central bank, said that arguments against sovereign wealth funds (SWFs) are driven a by "nationalistic backlash".

"Underlying the debate are irrational fears and a nationalistic backlash fuelled by domestic politics and economic problems that cloud reason," Goh said in an official speech released by the Singapore government.

State-backed funds from Singapore, South Korea, China and the Middle East have used their significa

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