Get serious about graft

Get serious about graft

Prompt action, not empty rhetoric, is the best way to combat an economic crisis. We have heard the rhetoric; now we must see the action. This, in effect, was the message delivered yesterday by International Monetary Fund (IMF) director Michel Camdessus to the economic decision-makers of Southeast Asia.

There is nothing wrong with Camdessus' reasoning. He believes those slumping economies will recover provided national leaders carry out thorough reforms.

That is a very big "if", because there is no sign that the political leaders in some of those countries are really prepared to take the necessary tough measures.

In Thailand, for example, the real problem is getting corrupt politicians out of the economy. The country's new premier, Chuan Leekpai, has stressed that he views economic recovery as a top priority and is willing to take the necessary tough measures to achieve it.

No one doubts Chuan's good intentions. The question is: will he be able to carry out those intentions? The trouble is that there are still too many people on the Thai political scene who do not appear to have the same concern for the national interest. A similar situation exists in Indonesia and, to a lesser extent, Malaysia and the Philippines. The trouble is that the relationship between politicians, political parties and big business is deeply enmeshed.

New thinking is needed by the leaders of these countries before they can take the initiatives needed to put their economies on the road to recovery. There must be fundamental changes in outlook and in the way these economies are run. There must also be an acceptance that corruption has no place in the scheme of thing.

-- Hong Kong Standard