yes, in fact every country has their own policies on handling
economic crisis.
as for msia, their decision to keep their ringgit on capital
control is due to the fact that if they don't, they will lose even
more and their govt do not necessary have all the funds to tie them
over that period. plus all the what nots...it is really choking
their economy rather than helping it.
after the crisis, when china decided to unpeck its yuan, only than
did msia follow suit. y? well, for one, it maybe due to the fact
that most part of the Asian crisis is already well over...their
monetary value by then has already suffered great loses...if u do
small exchanges of their currencies, you will know how much their
value was as compared to 1 SGD.
as for their development, pace is very slow till its
unbearable...this is of course imo. sustainable?? stable?? well,
i'll leave it to the businessmen in msia to determine this. esp the
chinese businessmen...
note: take a look at JB...if not for the constant flow of
singaporean "tourists", will JB be what it is currently? why did
the businesses and people in JB (city square and beyond) lament abt
certain policies and of higher costs of living etc? can they keep
up at the singapore rate?
take a look at the far north where thailand/msia border is....how
much have been done? at what pace?
