A friend sent me this. Thank you. This is from the Bangkok Post in Thailand. It is a very long and carefully analysed article. If you have the time, please do read the whole article at this link. I have shortened it for quicker reading.
The interesting thing is the foreign media are paying close attention to what is happening in Malaysia. Even the Bangkok Post has come out with this yard of print.
In a shrinking and globalised world, we cannot just sit still and watch our neighbor’s house burning down. The fire may spread to our homes too.
The world will also not sit still and watch irresponsible neighbours playing with fire. Have you heard of the US Navy or the US Marines? They usually keep themselves busy in other countries that have messed up.
– aggravated by political scandal
– Ringgit sell off can have contagious effect on neighbours
– sparking capital outflows and compounding financial volatilityNajib fighting tooth and nail to block investigation of 1MDB
– six countries investigating dubious 1MDB – foreign holdings of M’sian government bonds 48.4% (US$40b)
-Ringgit fell 22.8% vs US$ since 2015
– low foreign reserves, weak public investment
– ebbing fiscal revenues, bearish outlook for domestic politics
-low oil prices
-private debt is 90% of GDP
The country is led by a person who is recognised as being a thief. The Ringgit will crash further because this person is still in power. I think that is what the Bangkok Post is saying.– http://syedsoutsidethebox.blogspot.my/