The Moron finally meets up with the Menace and both agreed that they were neither.
Tun Dr Mahathir, who in 1997 referred to Mr Soros as a 'moron', blamed him for undermining the South-east Asian economies during the East Asian financial crisis by destabilizing their currencies. Malaysia later established capital controls to prevent currency speculation.
Mr Soros, 76, retorted that Tun Dr Mahathir, 81, was a 'menace to the country', and subsequently called on him to step down.
Finally, at this meeting today, Soros acknowledged Mahathir's declaration that he isn't anti-Semite. Mahathir also accepted Soros' explanation that he wasn't involved in the Ringgit attack during the 1997/98 East-Asian Currency Crisis.
Mahathir accepted that the ringgit crash was a direct result of speculations by other currency traders.
Mr Soros, 76, retorted that Tun Dr Mahathir, 81, was a 'menace to the country', and subsequently called on him to step down.
Finally, at this meeting today, Soros acknowledged Mahathir's declaration that he isn't anti-Semite. Mahathir also accepted Soros' explanation that he wasn't involved in the Ringgit attack during the 1997/98 East-Asian Currency Crisis.
Mahathir accepted that the ringgit crash was a direct result of speculations by other currency traders.
"But one aspect of Mahathir's legacy is beyond controversy. It was he who gave self-confidence and assurance to the Malaysian people. He was the one who told them to hold their heads high and demand the respect that is legitimately their due. And he dared a people, with a long history of subordination, to be bold and look the world in its eyes. That alone will earn him his place in history."
"Mahathir's finest hour was, no doubt, in 1997, when a perverse IMF, unnecessarily dragged Indonesia, Thailand and South Korea into severe pain and dislocation. He pegged the Malaysian ringgit to the US dollar, imposed capital movement controls, neutered the FIIs which always leave the shores of a country at the slightest hint of trouble and increased public expenditure. As a result, Malaysia was spared the agony of its neighbours and continued to grow. Long after the event, economic pundits are now praising the wisdom of the measures taken by Mahathir. Truly, those who scoffed have stayed to pray."
"Mahathir's finest hour was, no doubt, in 1997, when a perverse IMF, unnecessarily dragged Indonesia, Thailand and South Korea into severe pain and dislocation. He pegged the Malaysian ringgit to the US dollar, imposed capital movement controls, neutered the FIIs which always leave the shores of a country at the slightest hint of trouble and increased public expenditure. As a result, Malaysia was spared the agony of its neighbours and continued to grow. Long after the event, economic pundits are now praising the wisdom of the measures taken by Mahathir. Truly, those who scoffed have stayed to pray."
R Swaminathan, IAS (retd)
Former secretary, Asian Development Bank
2 comments:
haha. what a funny heading. new found love indeed. once great enemies and now... ? dr m after his retirement seems to find enemies as his new love (eg. malaysiakini).
Lucia, they were secrets partners before. Now they can go in the open.
Post a Comment