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Article: Dr Mahathir and the markets.(Malaysian stock markets; Prime Minister Mahathir Mohamad)(Editorial)
- Article from:
- The Economist (US)
- Article date:
- September 6, 1997
CopyrightCOPYRIGHT 1997 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MAHATHIR MOHAMAD likes nothing better than to blame wicked foreigners for the woes they have afflicted on South-East Asia's financial markets in recent months. Convinced that George Soros is behind the turmoil in Malaysia's markets-a charge the accused emphatically denies-the Malaysian prime minister rarely passes up a chance to lambast the super-speculator. In one outburst, he even referred to Mr Soros as "a moron". If Dr Mahathir is not careful, he may find the word being used about him.
Until recently, Dr Mahathir's nasty words were mere bluster, rarely converted into economic deeds. That is changing. On August 28th the Malaysian government announced that it would ...