Mahathir: they have borrowed too much and cannot repay

[MarrickG]

KUALA LUMPUR - Malaysia's ex-premier Mahathir Mohamad said Sunday that Muslim-majority countries should look east for development models and not at Western nations, which he described as "failures".

The outspoken former long-time leader, who is known as a fierce critic of the West, said countries like South Korea, Japan and China were "swimming in money", while Europe and the United States are mired in debt.

"Right now, there are so many problems with Western countries. The problem in the West is that they have borrowed too much and cannot repay. You cannot have that kind of a country as a model," Mahathir, 86, was quoted by the national news agency Bernama as saying.

"If you want to copy or learn something, learn from the successful people, not from the failures," he told an international conference on Islamic finance in northern Malaysia.

"So, we should continue to look to the East and not to the West. The West is going bankrupt," he said.

He attributed the debt crisis to greed.

"Greed will cause this. Today, we are seeing failed countries in the developed world," he added.

Mahathir ruled Malaysia for 22 years until 2003. During his tenure he introduced the "look east" policy to emulate work ethics and business techniques from Japan and South Korea.

 

[red amoeba]

he is just a fucking idiot who bends in the direction where the wind is blowing from..

墙头草，随风摆

 

[lianbeng]

lianbeng replies, "people with senile dementia tend to talk rubbish lah - pls bear with dr.mati lor."

 

[halsey02]

lianbeng replies, "people with senile dementia tend to talk rubbish lah - pls bear with dr.mati lor."

We have our local equivalent, we have not heard the last from, YET!..when is that, last lef gonna fall??

 

[BuiKia]

He is just an old man trying very hard to stay relevant. We also have one here isnt't it?

 

[methink]

Agreed. The old one here is trying to make some sense of the nonsense created by his no sense gahmen.

 

[LonewolfAlfa]

wait till after the MY elections, then lets see how rosy MY actually is...

 

[kopiuncle]

another of my heroes like laulee...both are greats...crossing swords and crossing borders...good to hear from laumahathir...he is one of asia's best leaders...but well, he threatened to potong potong potong!!!

 

[Received_by_Kings]

An extension of his ancient "Look East" policy.

But now Japan is in greater decline than it was from 1990, South Korea is unsustainable and China's the one to look at.

He does make a lot of sense especially on the nature of Western countries.

KUALA LUMPUR - Malaysia's ex-premier Mahathir Mohamad said Sunday that Muslim-majority countries should look east for development models and not at Western nations, which he described as "failures".

The outspoken former long-time leader, who is known as a fierce critic of the West, said countries like South Korea, Japan and China were "swimming in money", while Europe and the United States are mired in debt.

"Right now, there are so many problems with Western countries. The problem in the West is that they have borrowed too much and cannot repay. You cannot have that kind of a country as a model," Mahathir, 86, was quoted by the national news agency Bernama as saying.

"If you want to copy or learn something, learn from the successful people, not from the failures," he told an international conference on Islamic finance in northern Malaysia.

"So, we should continue to look to the East and not to the West. The West is going bankrupt," he said.

He attributed the debt crisis to greed.

"Greed will cause this. Today, we are seeing failed countries in the developed world," he added.

Mahathir ruled Malaysia for 22 years until 2003. During his tenure he introduced the "look east" policy to emulate work ethics and business techniques from Japan and South Korea.

 

[TheFootballer]

This old man is a "50 year once" crazy politician who never backs down a fight with the West.. he took on George Soros on the currency trading issue while wearing his sarong and did a duet with Iran Ahmed on 9/11 conspriracy...

He has been lookin East for last 30 years..Problem was that East din look back!

 

[TheFootballer]

btw.. got infracted for quoting to much.. I took the bullet quietly.. but the above poster quoted more and got away with it.... :( He White horse?

 

[Cruxx]

The paradox of thrift

"In the long run, we are all dead." - John Maynard Keynes











P.S I'm not a Keynesian. The only ideology I'm wedded to is pragmatism. So please don't come and bother me with your anti-Keynesian, anti-left wing ideas, Mr Devil Within.

 

[lianbeng]

lianbeng adds 2 cents, "signs of dementia: talking nonsense, keep repeating past events, irrelevant issues, hearing sounds, seeing things, inconsistent and incoherent in speech, etc..."

 

[Loofydralb]

he is just a fucking idiot who bends in the direction where the wind is blowing from..

墙头草，随风摆

Implementing currency control against the advise of IMF and World Bank doesnt sound like bending in the wind.

In the end he was proven right. There are plenty of smart people up north than we give them credit for.

 

[Devil Within]

Implementing currency control against the advise of IMF and World Bank doesnt sound like bending in the wind.

In the end he was proven right. There are plenty of smart people up north than we give them credit for.

If Suharto had followed Mahathir's way of capital control and not bow down to IMF, he might have remain in power till his death. To bad he listened to half-fuck LKY's advice and allowed himself to be screwed by the IMF.