Word: primed
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Dates: during 1990-1999
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Malaysian prime minister Mahathir Muhammed blames it all on the Jews. The rich Western economies. The foreign currency speculators. And of course on George Soros, a rich Western Jewish foreign currency speculator whom Mahathir calls a "criminal" and "a moron." Mahathir believes the IMF, far from wishing the current crop of East Asian leaders a speedy recovery from their current economic crises, engineered Indonesian president Suharto?s fall and would like very much to bring about his own. So it shouldn?t have come as too much of surprise when the defiant Dr. Mahathir threw the switch Tuesday...
...this dismal point, what does Asia have to lose? MIT's Paul Krugman wrote in FORTUNE that such an admittedly desperate "Plan B" could be Asia's only way out, and when he learned Mahathir had apparently followed his advice, Krugman even wrote an open letter to the prime minister advising him of the many sinkholes along the path ahead...
...when Mahathir decided on his desperate measure, the heads of those advisers who had pushed for IMF-style prescriptions immediately began to roll. Last week saw the resignations of the central bank governor, Ahmad Muhammed Don, and his deputy, FongWeng Phak. On Wednesday, Mahathir fired his IMF-friendly deputy prime minister and sometime political rival, Anwar Ibrahim, after Anwar refused to resign...
...weeks will likely be turbulent as investors and speculators learn the ropes of what will be a very different Malaysia as far as outsiders are concerned. Inside Malaysia, Mahathir?s plan has already caused chaos ?- after Anwar?s sacking, three truckloads of riot police were dispatched to the prime minister?s residence to quell protests by Anwar supporters...
MOSCOW: Russia's politicians may reach an agreement on a prime minister, but they're unlikely to agree on an economic policy. Boris Yeltsin has convened a weekend horse-trading session in the hope of securing Viktor Chernomyrdin's election on Monday, after the Duma postponed Friday's vote. "The Communists still insist they'll reject Chernomyrdin, but the tide may be turning as backroom deals have swung some key constituencies," says TIME Moscow correspondent Andrew Meier...