Malaysia's Response to the Financial Crisis In Asia
Malaysia took a different way to recover from the crisis. Unlike other Asian countries such as South Korea, Malaysia refused to accepted the bail-out program of IMF. Instead, they took more control over foreign exchange and markets. Malaysia and its Prime Minister Mahathir were severely criticized by Wall Street and the US government. They argued that the policy would disrupt Malaysia's economy more and cut off all ties of Malaysia with other economies. Desite their scolding, Malaysia is steadily recovering from the crisis side by side with South Korea.
Through the case study, I would like to point out the relationship
between national economy and market in the context of global capitalism.
My point is the question that national economies should be unified into
one mode of capitalism in the context of global capitalism.
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Last updated on April 06, 2000