N@N

1997 crisis, Mahathir-Anwar feud and rise of 'grand corruption'

The article from MSN discusses the economic crisis of 1997 in Malaysia, focusing on the political and economic fallout that ensued. It highlights the feud between then-Prime Minister Mahathir Mohamad and his deputy Anwar Ibrahim, which escalated during the crisis. Mahathir's policies, including the pegging of the Malaysian ringgit to the US dollar and capital controls, were controversial and led to a split with Anwar, who advocated for more liberal economic reforms. This conflict not only led to Anwar's dismissal and subsequent imprisonment on charges of corruption and sodomy, which many believed were politically motivated, but also marked the beginning of what the article describes as the "rise of grand corruption" in Malaysia. The piece suggests that the crisis and the political maneuvers during this period set a precedent for corruption at high levels of government, influencing the country's political landscape for years to come.

Read the Full MSN Article at:
[ https://www.msn.com/en-my/money/economy/1997-crisis-mahathir-anwar-feud-and-rise-of-grand-corruption/ar-AA1wJcVQ ]