US federal govt shutdown 'not helpful': PM Lee

[BALI] The fact that the United States has its political system in a gridlock is "not helpful" at a time when many basic long-term policy decisions have to be made, said Singapore Prime Minister Lee Hsien Loong yesterday.

Citing the fiscal balance in the US and how its economy would need to strengthen its competitiveness in the coming decades, Mr Lee said these are tasks that would require more than a single presidential term to carry out.

Mr Lee was addressing global business leaders and policy makers at the annual Asia-Pacific Economic Cooperation (Apec) CEO Summit in Bali.