It is troubling indeed to read the situation in Malaysia. The decision to relook at pegging the Ringgit because of its continued slide is a desperate measure indeed. What the government should do is to boost the economy and not resorting to this pegging measure.
The last peg by the then PM of Malaysia, the infamous Mahathir Mohamad managed to insulate the Ringgit against speculative attack and devaluation. The decision then was also made as a result of government clamp down on Anwar Ibrahim's Reformasi Movement. This time is also something to do with Anwar Ibrahim.
It was ten years of hell for small business people like me. Just when we were about to recover, poof... the government threw the spanner in the works again.
It is very funny that the current DPM Najib Razak is being promoted as "British-Trained Economist". He is more like a drop-out from Nottingham University. I was lucky to have landed in Derby instead of Nottingham or else I would have ended up as another myopic economist.
troubadour
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