Word: mohamad
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...this adds up to perhaps the gravest challenge to global capitalism since the Great Depression. And suddenly everyone from Malaysia's dictatorial Mahathir Mohamad to President Bill Clinton and British Prime Minister Tony Blair are calling for reform of the international monetary system that has held sway for a half-century. Their ideas range from Mahathir's ban on currency trading in depression-mired Malaysia to the Clinton Administration's talk of a new "global financial architecture" that would preserve a relatively free flow of capital while reducing the volatility of world financial markets. Says Treasury Secretary Robert Rubin: "Clearly...
...those who grew up believing in Prime Minister Mahathir Mohamad and his brand of pragmatism [VIEWPOINT, Sept. 21]. Despite his critics, I have chosen to support Mahathir's unorthodox economic policies. Why? Because he has me convinced that he will ultimately be proved right...
Prime Minister Mahathir Mohamad seems to believe that all Malaysia's current economic woes can be blamed on speculators and traders [VIEWPOINT, Sept. 21]. This shows a naive understanding of how free markets actually work. When investors have confidence in a country, they will bring capital into it. When they lose confidence, they will pull their capital out. It's their capital. They can use it as they wish. Mahathir has no right to regulate outflow of capital when he originally welcomed it with open arms. To say otherwise is nothing but complete hypocrisy. HUGH BROWER Stamford, Conn...
...former army chief turned politician, wasted billions propping up ailing finance companies owned by political cronies. When the currency crumbled under the pressure, he chose to throw good money after bad in a futile attempt to avoid a humiliating devaluation. Malaysia's cantankerous, 72-year-old Premier Mahathir Mohamad, strongman for 17 years, ran a one-man show with total control over the country's economic machinery. In his obsessive search for respect from the West, he spent lavishly to build the biggest and the tallest--the world's tallest skyscraper, the highest flagpole, the tallest control tower--wasting...
...make the IMF particularly sanguine. "He has a long history of exactly the type of vast, expensive white elephant projects that Indonesia needs to start trimming," says Branegan. But so far Habibie is making the right noises: He's dumped Suharto's eldest daughter from his cabinet, along with Mohamad "Bob" Hasan, one of Indonesia's richest men and a golfing buddy of the former president, and has pledged to follow the IMF program to the letter...