TOKYO: The recession and how to get out of it - these issues figured prominently when Minister Mentor Lee Kuan Yew met Japanese Prime Minister Taro Aso yesterday.

Speaking to reporters after the meeting, MM Lee said: 'I think Japan and Singapore are equally badly hit. They're going to have minus 6 (per cent growth), we're going to have minus 9. So we'll have to wait for the American economy to have plus 1, then we'll be doing better.' Meanwhile, he said, 'we manage'.

But it will be a long road back to recovery, which will not be a V-shaped one, he pointed out.

MM Lee is in Japan on a visit until Saturday, when he will proceed to Nanjing in China.

Asked about his impression of PM Aso, MM Lee said he has known him for a long time and described him as 'outspoken'.

He is scheduled to meet former Japanese prime minister Yasuo Fukuda this morning.

Tomorrow, MM Lee will speak at Nikkei's 15th International Conference on The Future Of Asia in Tokyo.

An annual event since 1995, the conference brings together political leaders and top business executives from Asia to discuss their views on, and outlook for, the region.

Discussions at this year's conference will focus on how Asia can find its way out of the current economic crisis by looking for new sources of growth.

These could include building infrastructure in under-developed countries in the region and developing environmental and other new businesses.

tastingjapan@gmail.com