What is “Mahathirism” was all about?

In 24 years of managing the economy post independence, primary products dependent and secondary low end manufacturing economy, Tun Dr. Mahathir had brought Malaysia to be the most promising new ‘tiger cub’ economy of East Asia, after South Korea, Taiwan and Singapore. The economic growth was promising enough that by 1990, the consistent expansion of 8% coupled with the vast economic and human capital resource available, meant Malaysia had potential to be developed nation status. Hence, in 1991, the ‘Vision 2020’ was launched and Malaysia was driven towards a developed economy within 30 years.

It was during this time infrastructure, especially logistics were developed immensely. This enabled the economic growth to be more robust. The single most important infrastructure project which is thought to the backbone of Malaysian economic growth is the ‘North South Expressway’, fully completed and operational by 1993. Of course one should not forget the development of ports like North Port and West Port in Klang, Kemaman Port and the latest, which managed to take on the “giant” in this region, the Port of Tanjung Pelepas. Then there is also the new Kuala Lumpur International Airport (KLIA), moved from Subang to Sepang. KLIA managed to somewhat gave a direct competition against Changi, Singapore.

Malaysia managed to move upwards in the industrial sector. It became a preferred destination for investments in the electronics and ICT industry by the early 90s. Of course, the once primary based economy of this once a British colony took a bold move under Tun Dr. Mahathir’s stewardship and gambled on going into high technology. Proton rolled out its first car in 1985. Within less than 15 years of promising growth, Proton not only recovered the Federal Government initial investment by 20 times, also managed to developed their “Detroit like auto city” in Tanjong Malim with purely internally generated funds.

The economy also went into diversification where more services sector was introduced, to support the growing physical economy. Capital and financial market related services grew exponentially during this economic boom era. Wall Street, European and Japanese firms were busy setting up offices and alliances with local firms. More so, during the ultra bullish period of the Malaysian capital market in early to late nineties.

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Preah Vihear is a 900-year-old temple that has raised fears of a military clash between Thailand and Cambodia, the Southeast Asian neighbors. Soldiers were deployed along the border area sides and a standoff continued for nearly six weeks.

The two sides have blamed each other for violating each other’s territory where the Preah Vihear temple is located.

The ancient Hindu temple sits on a jungle-clad escarpment that forms the natural boundary between the two countries. The International Court of Justice awarded the ruins to Cambodia in a 1962 ruling that has rankled many Thais ever since.

Tensions flared in July after the ancient temple became a UNESCO world heritage site, irking nationalists in Thailand who still claim ownership of the site.

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This is the latest opinion of Dr. Mahathir Mohamad, Prime Minister of Malaysia 1981 – 2003 and who famously ignored International Monetary Fund (IMF) advice and instead chose to peg Malaysian ringgit at 3.8 to the US dollar during the Asian financial crisis of 1997-1998, has since won plaudits from economists and the IMF itself for his handling of the crisis.

Is the global financial collapse again?

1. I wonder what is happening to the United States of America. It used to lay down the laws and rules which the whole world must abide. If any country refuses then blacklisting, sanctions and even invasions by the US forces might ensue.

2. It set the forms and standards for everything; systems of Government, human rights, economic transparency etc. Now it seems to be breaking or ignoring its own rules, regulations and laws.

3. It had condemned the Internal Security Act as unjust and a violation of human rights. Following the shock and awe invasion of Iraq, it has detained alleged terrorists without trial and without rights and habeas corpus proceedings. Some detainees have been there for five years.

4. Then in Abu Ghraib detention camp detainees have been tortured and humiliated. They were treated like animals. If it had happened in some weak Asian country, the US would demand for all kinds of punishment which the US is ever ready to inflict. But no one can drag Americans to court and punish them. If at all American courts would try these miscreants and the punishment would be very light.

5. Because of the extraordinary greed of American financiers and businessmen, they invent all kinds of ways to make huge sums of money. We cannot forget how in 1997-98 American hedge funds destroyed the economies of poor countries by manipulating their national currencies.

6. When as a result of the so-called trade in currencies the companies in the poor countries faced bankruptcy, the Governments were told not to bail out any company or bank which was in deep trouble. The Americans claimed that these companies or banks were inefficient and they should be allowed to go bankrupt and perish. Better still they should be sold at fire-sale price to American investors.

7. Yet today we see the US Government readying US700 billion to brazenly bail out banks, mortgage companies and insurance companies.

8. Where does the money come from? From thin air as no real money in cash or bullion or anything tangible are moved into the bankrupt banks. The money is just in the form of loan papers and entries in the books of the banks or companies.

9. The US 700 billion has no backing whatsoever. No gold reserves, no foreign currency reserves as required for other countries. Without such backing the US Dollar is actually useless. Only the military power of the US is forcing the world to give value to the US Dollar.

10. Desperate to avoid a serious recession the US has abandoned all its principles. It has now banned short selling, limited currency trading and insist that the accounts of hedge funds and currency traders to be open for inspection and be published.

11. In the final spasm of fear, the Government has given itself the right to resolve the problem of bankrupt banks and companies by the Government taking over i.e. the great capitalist country has accepted what is nothing more than nationalization which it had condemned so much before.

12. The US now owes the world US 14 trillion. There is no way it can ever settle this debt. If other countries fail to repay or service their debts, the US would demand that they be made bankrupt. Now the US is literally bankrupt but it still insists that the pieces of paper, the famous or infamous greenbacks have some value. It actually has no value. Certainly it cannot be used to finance wars of aggression against Iraq and Afghanistan, to finance the CIA (Central Intelligence Agency) activities in undermining Governments and countries. But still the US’ ability to threaten countries is undiminished.

13. An attempt is being made even in Malaysia to achieve a regime change. Money has been funneled to certain individuals and parties to ensure that a well-known candidate with extensive connection to the US Jewish lobby would somehow become the Prime Minister of Malaysia.

14. US intervention in the politics of Malaysia is clear. I may not agree with the leadership of the present Government but I resent and object to US manipulations to make a satellite of this nation.

By Tun Dr. Mahathir Mohamad - Prime Minister of Malaysia 1981 - 2003 (CheDet dot Com).

If you are a Malaysian, then read page 13. Or else

If you are an American and loves Obama, then read page 16. Click Here.

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You have heard about “Blogging to the Bank”. Now you’ll hear about “Blogging to the Jail”.

Malaysia has jailed a popular anti-government internet blogger for two years under a draconian security law that can keep him detained indefinitely without a trial, a minister said Tuesday.

Raja Petra Kamarudin, who is known for his sensational online articles targeting top government leaders, was served with an order Monday night that would see him detained in for two years under the Internal Security Act (ISA), Home Minister Syed Hamid Albar told reporters.

The detention is due to Raja Petra’s articles that ridiculed Islam which could arouse anger among Muslims.

‘The police had recommended his detention and after going through the papers, we are satisfied that there are strong grounds for him to be further detained for two years,’ he said.

Raja Petra, who runs the popular Malaysia Today news website, was arrested September 12.

Syed Hamid, who had ordered his arrest, had said some of Raja Petra’s articles were deemed a threat to national security and offensive to Islam, the official religion of the country.

Raja Petra has in the past been accused by the government of spreading lies and false rumors in his articles.

He was charged with sedition in May for allegedly implying that Deputy Prime Minister Najib Razak was involved in the gruesome murder of a Mongolian woman.

His detention sparked criticism from rights groups and the blogging community, who say the government’s move is tantamount internet censorship and an infringement of free speech.

But many of Raja Petra’s supporters have remained defiant, saying his detention would further serve to highlight the need for bloggers to speak up on issues they were not satisfied with in the government.

‘His prolonged detention does little to reduce his influence in Malaysian politics,’ said long-time blogger and lawyer Joshua Chin.

‘In fact, it will only make him more iconic. Bloggers are not going to be afraid to speak up - at most, they will resort to blogging anonymously,’ he said.

Under the ISA, the government can extend Raja Petra’ two-year detention period indefinitely.

Raja Petra will be held at the Kamunting Detention Centre in the northern state of Perak. The centre currently holds other detainees under the security law, mostly suspected Islamic extremists.

Police also detained an opposition lawmaker and a journalist on September 12, shortly after Raja Petra was arrested. The government has since released the two.

The ISA was originally drafted almost 60 years ago during British colonial rule to fight a communist insurgency.

Critics of the law claim it is being used to crack down on dissent and have repeatedly called for it to be abolished, but the government maintains it is needed to safeguard against terrorism and to ensure national security.

Source: Monster and Critics.

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