The Lowdown On Mahathir Mohamad
What Malaysian Prime Minister Mahathir Mohamad doesn't seem to understand is that currencies are not supposed to be stable any more ("Mahathir speaks out," Asian Business, May 4). A currency corrects itself constantly to reflect the liquidity and economic conditions of the nation. Monetary authorities and financial institutions should anticipate currency fluctuations and adopt conservative management policy because no government can prevent its currency from moving violently in times of monetary crisis.
Although Mahathir attempts to justify anti-Jewish remarks he made earlier this year, we must remember that his comments are consistent with his long history of anti-Semitism and belief in a Jewish conspiracy to bring about Malaysia's downfall. So his comments blaming a Jewish conspiracy for Malaysia's economic fall came as no surprise.
Previous statements by Mahathir include a comment in 1988 that the Western media are controlled by Jews--because they have to bow to Zionist interests--and an accusation that Jewish-owned foreign publications are attempting to destabilize Malaysia. After an unfavorable 1986 article about Malaysia, the Prime Minister claimed The Wall Street Journal was controlled by Jews and part of a Zionist plot to overthrow his regime. The list goes on and on.
Abraham H. Foxman