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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Ron Bower who wrote (9154)	8/19/1999 11:26:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 9980

I feel it will be one of those news items that just disappears with no revelations - no prosecution of Wen Ho Lee or anyone else A very likely scenario. But I think a political price will be extracted. Very astute observation on intentional leaks by agency heads. Regards, Ron

To: Ron Bower who wrote (9154)	8/20/1999 12:38:00 AM
From: hui zhou	Read Replies (2) \| Respond to of 9980

BEIJING - Malaysian Prime Minister Mahathir Mohamad says Asian countries should band together to set up their own bailout funds, reform the United Nations and create an ``Asian media.' Apparently catching his Chinese hosts off-guard, Mahathir proposed Thursday that China and Malaysia join forces on various plans he says could curb U.S. influence in East Asia. Chief among them is the proposal for an Asian Monetary Fund to provide regional support for troubled economies. Such a fund would protect troubled nations from the harmful effects of the International Monetary Fund's stringent reform requirements, Mahathir said. ``The unprecedented economic crisis has demonstrated the vital need for the setting up of a regional fund,' Mahathir told a gathering of Chinese and Malaysian executives and officials. Mahathir was speaking on the second day of a three-day visit to China. Asked by a member of the audience for China's position on Mahathir's proposals, Vice Premier Li Lanqing said, ``I'm the first to hear about them.' But he said China would be keen to discuss the ideas with Malaysia. The most outspoken leader in Southeast Asia, Mahathir has blamed Westerners jealous of the region's success for causing the Asian economic crisis. China, which has its own suspicions about Western dominance in the region, may seem a kindred spirit. The Malaysian leader apparently hopes Beijing's backing might help revive his proposals for building regional institutions to rival those he says are dominated by the West. Accusing foreign news media of providing ``slanted and distorted reporting' of world events to Asian audiences and of Asian events to the rest of the world, Mahathir said there was an urgent need for Malaysia and China to set up an ``Asian media.' They also should cooperate in working to create an ``undominated' United Nations, he said.