Word: malaysians
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...Another lesson: don't be afraid to experiment. Unorthodox measures can pay off. Malaysian Prime Minister Mahathir Mohamad was slammed by most orthodox economists for pegging his currency and slapping on capital controls when the crisis hit to defend the ringgit. While Mahathir's anti-Semitic diatribes against hedge funds and currency traders were off the mark, his radical action bought Malaysia time and almost certainly saved it from the worst ravages of the crisis...
...Obama looks will not, of course, determine how he would govern if elected. Because he spent part of his childhood in Indonesia, and because he appears international in outlook, some Asians have high hopes for an Obama presidency. The thoughtful Malaysian commentator Karim Raslan warns, however, that Obama could prove disappointing to even those Asians who like him. "There's this idea that Obama will be a transformational figure, a leader of the world," says Karim. "But he's a Democrat, and Democrats have traditionally pushed protectionism and human rights, issues uncomfortable for Asia. Obama's key constituency...
...Japan) of 7.7% this year, the slowest pace since 2003. Next year could be worse if the U.S. enters a full-blown recession. "There are few signs as yet of the damaging effect but it will show up soon enough," says Ramon Navaratnam, a former senior official in the Malaysian Finance Ministry. "We cannot escape the contagion...
...doubts that Malaysian politics are about to undergo a sea change. The only questions are when and how - and those are big questions in a country that is trying to secure its status as a model Muslim-majority democracy. Will Anwar - a man who once served as deputy prime minister until he had a political falling-out with his mentor and spent six years in jail - be able to bring down a ruling coalition that has governed Malaysia since independence? Or will Najib - the current deputy premier whose reputation has been tainted by the murder trial of his former advisor...
...Anwar Ibrahim, redemption must be feeling pretty sweet. On Aug. 26, the Malaysian opposition leader won a landslide victory in a local by-election, a political comeback for the former deputy prime minister who has been out of office for the last decade. "We won! And our victory is decisive and overwhelming," an exhausted Anwar told thousands of supporters gathered outside a ballot counting center several hundred kilometers north of the capital that night...