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Wednesday, April 08, 2009

Mahathir pins blame on bankers

Renowned for his criticism of Western and other developed countries, Mahathir is now calling for an overhaul of the global monetary order. "We should stop using the US dollar as the trading currency. We should reduce the use of the dollar and move to an alternative currency like the euro," he said. "The US should be treated the same as any other nation. China is capable of producing almost anything that it needs. We have benefited from China's increasing wealth." All countries should work together to figure out how to curb the abuses which led to the present crisis. "When you are poor you must learn to behave like a poor person so you don't end up in debt. We have to accept that the whole world will be poorer," he said.

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