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Mahathir: Virus is worse for economy than 1997 crisis
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Malaysia's Mahathir: Virus is worse for economy than 1997 crisis
By Chan Tien Hin and Anuradha RaghuBloomberg On 16 Mar 2020
The former Malaysian prime minister says 'investor confidence is very low' worldwide due to the pandemic. He was speaks during a news conference in Putrajaya
Malaysia's former Prime Minister Mahathir Mohamad, who resigned from his post in a shock move in February, said of his successor: 'This is the wrong time to take over the government ... The country has never been in such a state before.'
“This is worse than the financial crisis,” he said in a Bloomberg Television interview with Haslinda Amin. “This is really a terrible blow to the economies of the whole world.”
Mahathir joins other world leaders in warning that the virus impact may be worse than past periods of upheaval. European Central Bank President Christine Lagarde this month warned the economic fallout could be similar to the 2008 global financial crisis, while Singapore Prime Minister Lee Hsien Loong said it might be worse.
The 1997 crisis led to widespread financial and political upheaval across Asia. Millions of people fell below the poverty line as economies contracted and currencies plunged, while governments fell across the region. Malaysia emerged relatively better off, with economic growth rebounding in just a year.
Mahathir, 94, is the country’s longest-serving leader, serving as prime minister for about a quarter-century in two stints. He was the architect of Malaysia’s capital controls in 1998, which were widely panned at the time. International Monetary Fund officials later acknowledged that the measures put Malaysia ahead of the curve.
This time, pegging the exchange rate won’t help, Mahathir said.
“Investor confidence is very low not only for Malaysia, it’s for the whole world,” he said in the interview at the administrative capital of Putrajaya. “Because if you invest and you cannot sell, you don’t invest.”
The coronavirus pandemic has disrupted the movement of people and supply chains. Consumers were likely to focus only on food and health products, which may still attract some investments, he added.
Mahathir had ruled Malaysia until he abruptly resigned last month, setting off a power struggle that led to Muhyiddin Yassin becoming premier backed by a loose coalition of parties from across ruling and opposition coalitions. Mahathir expressed doubt over the new government’s ability to steer the country to recovery.
“This is the wrong time to take over the government,” he said. “The country has never been in such a state before.”
Covid-19 pandemic worse than 1997 financial crisis, warns Dr Mahathir
March 16, 2020
https://www.todayonline.com/world/covid-19-pandemic-worse-1997-financial-crisis-warns-dr-mahathir
KUALA LUMPUR — Former Malaysian prime minister Mahathir Mohamad, who led the country’s recovery from the 1997 Asian financial crisis, told Bloomberg TV that he expects the Covid-19 pandemic to hit the global economy harder than in 1997.
“This is worse than the financial crisis. This is really a terrible blow to the economies of the whole world.”
While the 1997 crisis affected millions of people as economies contracted and currencies plunged, Malaysia was better off, rebounding economically in just one year.
Much of it was credited to Dr Mahathir who was the architect of Malaysia’s capital controls in 1998.
“This time, pegging the exchange rate won’t help.
“Investor confidence is very low not only for Malaysia, it’s for the whole world,” he was quoted as saying.
“Because if you invest and you cannot sell, you don’t invest.”
After a recent political crisis, Mr Muhyiddin Yassin is now the prime minister.
However, Dr Mahathir said he has doubt over the new government’s ability to steer the country to recovery.
“This is the wrong time to take over the government.
“The country has never been in such a state before.”
Other world leaders have also issued similar warnings.
European Central Bank President Christine Lagarde had said the economic fallout could be as bad as the 2008 global financial crisis, while Singapore Prime Minister Lee Hsien Loong said the pandemic economic fallout might be worse.
On Sunday (March 15), 190 new Covid-19 cases had been confirmed in Malaysia alone, the largest single-day increase in the number of confirmed cases.
Meanwhile, China has logged more than 80,800 cases, but most patients have recovered and there are now fewer than 10,000 infected people.
The country’s progress contrasts with the growing crisis abroad, with the worldwide death toll surpassing 6,000 as Italy recorded its biggest one-day rise in fatalities.
With 368 deaths, Italy’s grim figure was higher than any single-day toll reported in China. THE MALAYSIAN INSIGHT
马来西亚前总理马哈蒂尔：疫情对经济的影响比1997年危机更严重
作者：陈天兴和阿努拉达·拉古，彭博社，2020年3月16日
https://www.aljazeera.com/economy/2020/3/16/malaysias-mahathir-virus-is-worse-for-economy-than-1997-crisis
这位马来西亚前总理表示，由于疫情，全球“投资者信心非常低迷”。他在普特拉贾亚的新闻发布会上发表了讲话。
马来西亚前总理马哈蒂尔·穆罕默德于今年2月突然辞职，他谈到他的继任者时表示：“现在执政时机不对……国家从未处于如此境地。”
曾带领马来西亚从1997年亚洲金融危机中复苏的前总理马哈蒂尔·穆罕默德预计，当前的新冠病毒疫情将对全球经济造成更严重的打击。
“这比金融危机还要严重，”他在接受彭博电视台哈斯琳达·阿敏采访时表示。“这对全世界的经济来说都是一次沉重的打击。”
马哈蒂尔与其他世界领导人一道警告称，此次疫情的影响可能比以往的动荡时期更为严重。欧洲央行行长克里斯蒂娜·拉加德本月警告称，此次疫情的经济后果可能与2008年全球金融危机类似，而新加坡总理李显龙则表示，情况可能更为严重。
1997年的金融危机引发了亚洲各地广泛的金融和政治动荡。随着经济萎缩、货币暴跌，以及地区各国政府的倒台，数百万人跌入贫困线以下。而马来西亚的情况则相对好转，经济增长在短短一年内就实现了反弹。
现年94岁的马哈蒂尔是马来西亚在任时间最长的领导人，曾两度担任总理，任期约25年。他于1998年制定了马来西亚的资本管制政策，当时该政策广受批评。国际货币基金组织官员后来承认，这些措施使马来西亚走在了时代的前沿。
马哈蒂尔表示，这一次，钉住汇率无济于事。
“投资者信心非常低迷，不仅对马来西亚如此，对全世界也是如此，”他在行政首都布城接受采访时表示。“因为如果你投资了却卖不出去，你就不会投资。”
新冠疫情扰乱了人员流动和供应链。他补充说，消费者可能只关注食品和保健产品，这些产品可能仍能吸引一些投资。
马哈蒂尔一直统治着马来西亚，直到上个月突然辞职。这场权力斗争最终导致慕尤丁·亚辛在来自执政党和反对党联盟的松散政党联盟的支持下出任总理。马哈蒂尔对新政府带领国家走向复苏的能力表示怀疑。
“现在执政时机不对，”他说道。“国家从未处于过这样的境地。”
马哈蒂尔警告：新冠疫情比1997年金融危机更严重
2020年3月16日
https://www.todayonline.com/world/covid-19-pandemic-worse-1997-financial-crisis-warns-dr-mahathir
吉隆坡——曾领导马来西亚从1997年亚洲金融危机中复苏的前总理马哈蒂尔·穆罕默德在接受彭博电视台采访时表示，他预计新冠疫情对全球经济的打击将比1997年更严重。
“这比金融危机更严重。这对全球经济来说都是一次沉重的打击。”
1997年的金融危机影响了数百万人，经济萎缩，货币暴跌，而马来西亚的情况则好得多，仅用一年时间就实现了经济反弹。
这在很大程度上归功于马哈蒂尔博士，他是1998年马来西亚资本管制政策的制定者。
“这一次，钉住汇率也于事无补。”
民主行动党资深人士林吉祥表示，在新冠疫情期间“玩弄政治游戏”是不负责任的。
“投资者信心非常低迷，不仅对马来西亚，对全世界都是如此，”他说道。
“因为如果你投资了却卖不出去，那就不投资了。”
在最近的政治危机之后，慕尤丁·亚辛先生现在担任首相。
然而，马哈蒂尔博士表示，他对新政府带领国家走向复苏的能力表示怀疑。
“现在执政时机不对。”
“国家从未处于过这样的状态。”
马来西亚政府为医生和新冠疫情期间的一线工作人员发放特别津贴
其他世界领导人也发出了类似的警告。
欧洲央行行长克里斯蒂娜·拉加德曾表示，此次疫情的经济影响可能与2008年全球金融危机一样严重，而新加坡总理李显龙则表示，疫情对经济的影响可能更为严重。
周日（3月15日），仅马来西亚就新增190例新冠肺炎确诊病例，创下单日确诊病例增幅之最。
与此同时，中国累计确诊病例超过80,800例，但大多数患者已经康复，目前感染人数不足10,000人。
中国的进步
与国外日益严重的疫情危机形成鲜明对比。意大利的死亡人数创下单日最大增幅，全球死亡人数已超过6000人。
意大利累计死亡368人，这一严峻数字高于中国任何单日死亡人数。《马来西亚观察》
马来西亚前总理马哈蒂尔：新冠病毒疫情对经济冲击超过1997年危机
Malaysia’s Mahathir: Virus is worse for economy than 1997 crisis
马来西亚前总理马哈蒂尔·穆罕默德2月份辞职举动令人震惊，他表示，“现在是接管政府的错误时机。这个国家从来没有处于这样的状态。”（路透社）
马哈蒂尔在接受彭博社哈斯琳达·阿敏（Haslinda Amin）采访时表示，“这比金融危机更糟糕。这真的是对全球经济的可怕打击。”
马哈蒂尔加入了其他警告疫情影响可能比过去的动荡时期更严重的领导人行列。欧洲央行行长拉加德本月较早时警告称，疫情的经济影响可能与2008年全球金融危机相似，新加坡总理李显龙则表示情况可能会更糟。
1997年的危机导致整个亚洲发生广泛的金融和政治动荡。 随着经济收缩和货币贬值，数百万人跌至贫困线以下，整个地区的多个政府下台。而马来西亚的表现相对较好，经济增长仅在短短一年内开始反弹。
现年94岁的马哈蒂尔是马来西亚任职时间最长的领导人，在两个任职期间担任了大约25年的总理。他是1998年马来西亚资本管制制度的设计师，当时这一制度曾受到广泛质疑。 但国际货币基金组织（IMF）官员后来承认，这些措施使马来西亚处于领先地位。
马哈蒂尔表示，这一次，盯住汇率将无济于事。
马哈蒂尔在布城（Putrajaya）行政区接受采访时表示，“投资者的信心不仅是对马来西亚，而且对整个世界都很低。 因为如果你投资而不能出售，你就不会投资。”
他补充说，新冠病毒大流行扰乱了人员和供应链的流动。消费者可能只关注食品和医疗保健品，这可能仍然会吸引一些投资。
马哈蒂尔一直统治着马来西亚，直到他上个月突然辞职为止，这引发了一场权力斗争，穆希丁·亚辛上台担任马来西亚新总理，后者得到了来自执政党和反对派联盟政党松散联盟的支持。马哈蒂尔对马来西亚新政府引导国家走向复苏的能力表示怀疑。
他并表示，“现在是接管政府的错误时机， 这个国家从来没有处于这样的状态。”
