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

To: Thomas Haegin who wrote (655)	1/9/1998 8:00:00 PM
From: Stitch	Read Replies (3) \| Respond to of 9980

Just another observation in Malaysia: A large headline in today's New Straits Times states "Moderate recovery possible in six months" quoting Datuk Seri Dr. Mahatir. The thing that is noticeably absent is any fixing of blame. It is a compilation of remarks made on a TV interview yesterday. I mention this because he has been notably quiet for several days now. This particular paper almost always features Mahatir on the front page. Headline storys often are nothing more then Mahatir opening a new plant or highway, or speaking at a party function. The kind of stuff that American papers would put on page 6 if it were the U.S. President. Notably, this particular interview lacks any of the "scolding" quality of Mahatir when he speaks to the people. (Mahatir can be the most condescending public speaker I have ever heard). Throughout the 90 minute iterview Mahatir repeated his theme of confidence consistently. He noted that Malaysia had no need of IMF funds because the basic economic factors here were sound. He also noted that to borrow based on other currencies would be especially foolish given the risk in the forex recently highlighted by events. he urged the people to have confidence in the banking system which was sound also. He also urged people to invest in local stocks as , in his opnion, they were extremely well valued now. So, why do I mention all this? Let me answer with a story that is circulating here: It seems that Pres. Clinton, Premier Li Peng, and Prime Minister Mahatir were called to a meeting with God. God told them that he had called them to warn them of the end of the world, which would occur in 3 days. Upon return, Clinton told the people: "I have good news and bad news. The good news is that there really is a God! The bad news is that He is ending the world in three days and we must prepare." Upon his return Li Peng told his people "I have bad news and worse news. The bad news is that there is a God! The worse news is that He intends to end the world in three days and we must prepare." Upon his return Dr. Mahatir addressed the people saying: "I have good news and even better news. The good news is that God called a meeting and requested that I attend instead of Lee Kuan Yew. The better news is that in three days all your troubles will be over." draw your own conclusions best, Stitch