Mahathir attacks West in New Year message

[Ulhas Joglekar]

1 January 2000
Mahathir attacks West in New Year message
KUALA LUMPUR: Malaysia's Prime Minister Mahathir Mohamad on Friday welcomed
the new millennium with a trademark attack on the West, describing
globalization as an attempt to colonize poor nations.
"The former colonial masters have plans to recolonize us," Mahathir said in
a New Year's Day message.
"The rich will become richer and the poor will work to enrich the wealthy,"
Mahathir was quoted as saying by the national news agency Bernama.
Mahathir became a strong critic of free trade since the Asian currency and
stock market tumble pushed Malaysia into its worst recession in decades. He
blamed Western currency speculators for the crisis and Western government
for refusing to restrict them.
In September 1998, he imposed exchange controls, restricting foreigners from
repatriating their investments for at least one year and pegging the
currency, the ringgit, at 3.8 to the U.S. dollar. He also kept interest
rates low and boosted government spending.
The restrictions have since been eased, and in the April-June quarter,
Malaysia's economy grew for the first time after shrinking for five
quarters.
"They tried and nearly succeeded but we were able to foil the attempt this
time and we were able to revive our country's economy," said Mahathir, who
has ruled the Southeast Asian nation for 18 years.
In a separate message, opposition leader Azizah Ismail said Malaysia's
biggest problem was its lack of political freedom. The wife of jailed
politician Anwar Ibrahim called on Malaysians to join her campaign for
political change.
"We call upon Malaysians to dedicate themselves anew to the great task that
lies ahead -- the task of building a just society," she said in a statement.
(AP)
For reprint rights: Times Syndication Service
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