PM Mahathir attacks West, denies cronyism, nepotism<\/p>\n
KUALA LUMPUR (Agencies): Malaysia's prime minister railed
\nyesterday against "foreign powers" he accused of trying to topple
\nhim and ruin the country, and he denied that cronyism and
\nnepotism had hurt the economy.<\/p>\n
Blaming foreign companies for preying on Malaysian companies
\nweakened by the Asian economic crisis, Prime Minister Mahathir
\nMohamad urged ruling party members at their annual convention to
\nunite against the attacks.<\/p>\n
Mahathir dismissed accusations of crony capitalism in Asian
\nnations, saying Malaysians should not be influenced by Western
\npropaganda and by marauding market forces.<\/p>\n
He said that governments in both East Asia and the West
\nsuffered from corruption, but investors had used "crony-
\ncapitalism" as an excuse to attack Asian economies.<\/p>\n
Mahathir, in remarks prepared for delivery to the general
\nassembly of his United Malays National Organization (UMNO) party,
\nsaid foreigners wanted to control Asia's economies and determine
\nthe region's political leaders.<\/p>\n
"Undoubtedly there is corruption, lack of transparency and
\nother things in governments of East Asia. Even advanced countries
\nof the West are not free from this phenomenon," Mahathir said in
\nhis address opening UMNO's three-day annual general assembly.<\/p>\n
"Actually, crony-capitalism, corruption and non-transparency
\nwhich are said to be found in Asian countries are only excuses to
\nattack the economy and finance of these countries."<\/p>\n
Mahathir said governments had warned of the dangers of
\novervalued shares, but fund managers could only see the profits
\nresulting from price increases until Asia's economic crisis
\nerupted last year.<\/p>\n
"Rightly, the development process of the Malays, migrating
\nfrom farmers to entrepreneurs and educated traders, ought to
\ncontinue," Mahathir told some 2,000 delegates at the United
\nMalays National Organization general assembly.<\/p>\n
"However it seems there are quarters who will not allow this.
\nWe are pushed to become a backward, weak race, that is
\nrecolonized and having to serve others," he said. "They are
\ntrying to destroy all that we have built."<\/p>\n
Mahathir is a frequent critic of the West. His acerbic
\nrhetoric has often scared investors and sent the ringgit and
\nstock markets plunging.<\/p>\n
But he received a standing ovation for his speech yesterday,
\nin which he warned foreign countries could try to manipulate
\nMalaysia's internal politics to cause a power struggle.<\/p>\n
Such a struggle could lead to the selection of a leader
\n"willing to submit to world powers," Mahathir said.<\/p>\n
Mahathir, 72, may have been alluding to Deputy Prime Minister
\nAnwar Ibrahim. Anwar, 51, who is also finance minister and
\nMahathir's hand-picked successor, has often been at odds with his
\nmentor over the handling of the economy and pegged by some as
\nmore level-headed and better suited to lead the country into the
\nnext century.<\/p>\n
Some political observers had been anticipating a showdown
\nbetween the two men during the convention.<\/p>\n
But later yesterday, Mahathir and Anwar appeared together at a
\nnews conference where the prime minister backed Anwar as his
\ndeputy in the party in case there was a challenge for the office.<\/p>\n
"If people want to have a contest, by all means do. But as far
\nas I am concerned, if people want to contest against my deputy,
\nI'll support the incumbent."<\/p>\n
Anwar said he had never challenged Mahathir's leadership.
\n"It's only the implication of some groups, particularly the
\nforeign media," he said.<\/p>",
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