Online Original: Malaysia: `The Worst Is Yet To Come'By
These are painful times for Malaysia Inc. Interest rates are hovering at a steep 16%, while loan growth is being cut in half this year. "Companies are going bust one after another," says Daim Zainuddin, Prime Minister Mahathir Mohamad's top economic adviser. But rather than embrace an IMF-style austerity program and see massive bankruptcies and layoffs, Malaysia is doing it "our way," Daim says.
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