19 September, 2020

Bleeding Tigers...

With their economies in a mess, Southeast Asian countries have mooted a monetary fund without Western participation

Bleeding Tigers...
outlookindia.com
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"I used to fly 10,000 feet above ground. Now I sell sandwiches." —Siriwat Voravejvutkuth, a rich stock and property broker who has fallen on hard times. Thailand's economic crisis has red -uced him to selling sandwiches at a hospital. "Speculators like George Soros are killing us all." —A currency dealer in Manila.

"ASEAN countries have spent 40 years trying to build up their economies, and a moron like Soros comes along with a lot of money." —Malaysian premier Mahathir Mohammad on the recent attacks on Southeast Asian currencies by foreign speculators. "Mahathir is a menace to his own country." —George Soros criticising Mahathir's suggestion that currency trading was unnecessary, unproductive and immoral, and should be banned.

THESE are bizarre times in troubled Thailand and its ASEAN neighbours. Impoverished by the 40 per cent devaluation of the baht, Thais are depositing their gold Rolex watc-hes and teeth fillings at the pawnbroker's, but the Thai government is running an...

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