5 days ago, George Soros came to Malaysia and the first thing he wanted is to meet up with Mahathir.The "Moron" met the "Menace" and both agreed they were neither and Mahathir accepted that Soros wasn't the cause of the currency crisis back in 1997.
Just 5-days since they talked, the currency crisis is re-enacted yesterday and Soros is around here to witness the "Second Coming of Cris".
The Bangkok stock market plummeted 14.8% - the biggest single-day fall since 1990 Iraq-Kuwait war and Thai government immediately introduced currency control. However, within hours, they made a U-turn and allowed foreign trading in the stock market.Malaysian composite index fell 21.24 point, about 2% in a single day (closing index 1,060.36), and it's likely to continue to dip until some signs of stability in the region emerged. It is predicted that the market will see more sellings and further losses.
Did Soros came to warned Mahathir or did he come to discuss the strategic plan and strategic alliances?
2nd Finance Minister, Nor Mohamed Yakcop, a rouge trader himself, said Malaysia will not impose capital control and will continue to liberalise the economy.Najib said he is confident Malaysia had not reach a crisis situation by any stretch of imagination.
I don't know what he imagine and how he stretch his imagination, but it is imaginable and highly probable in the science of capitalism and liberalisation.
2 comments:
how is the economy liberalized if it's still tied under managed float?
Purple,
Now I hear u! I thought u abandoned CTSB. U R right. Liberalization in controlled environment runs contrary of the concept of classical Liberalism. It becomes heteroliberalism.
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