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Strategies & Market Trends : Asia Forum

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To: Stitch who wrote (7370)	11/2/1998 6:25:00 PM
From: Cynic 2005	Read Replies (1) of 9980

Hi Stitch, re. Currency controls. I am not sure how recent controls in Malaysia affected you personally. Until recently India has been a whipping boy for the advocates of "free capital flows." I personally do not have much trouble converting small amounts of cash either way (Rs->$ or $->Rs.) Now, it is funny - the Gods of financial world have realized the havoc free-flowing capital can cause around the world. One world one currency is better if at all possible. In its absence, there is nothing wrong for each country to look after its own interest. But, at the same token can they manipulate the markets to give false impression of "stability?" I don't think it is a good idea. The former is a regulatory goal that can be achieved. The latter is a futile effort against mother nature. Re. Mahathir, I thought he is insane when he started blaming Soros et. al. for all the economic problems Malaysia was facing. I think capital controls is perhaps the wisest thing he has done in the recent past. What are your thoughts? (If you have already expressed them, I have missed them. Sorry.) -MMV

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