Charles Santiago |
- 控制热钱避免引发市场泡沫(在野党促落实资本管制政策)
- Syabas denies coffers drying up
- Govt urged to consider capital controls
- Economy can crash without capital controls, says DAP
- மக்கள் கூட்டணியைப் பற்றிய தவறான தகவல்களை நம்பவேண்டாம்! – பொதுமக்களுக்கு சார்ல்ஸ் சந்தியாகோ வேண்டுகோள்
- 指國陣依舊沒正視權益‧查爾斯：華印裔別再上當
- DAP MP wants Malaysia to impose capital controls
| Posted: 23 Nov 2010 06:31 PM PST Source: Merdeka Review 作者／本刊曾薛霏 Nov 23, 2010 02:50:01 pm
        | ||
| Syabas denies coffers drying up Posted: 23 Nov 2010 06:26 PM PST Source: The Sun
        | ||
| Govt urged to consider capital controls Posted: 23 Nov 2010 06:21 PM PST Source:The Star By LEE YUK PENG KUALA LUMPUR: An Opposition MP has urged the Government to view capital controls as a protective policy to insulate the local economy from destabilisation. Charles Santiago (DAP-Klang) said China, Indonesia, Thailand, Brazil, South Korea and other developing countries had recently adopted such a policy. “Capital controls should be viewed as a policy response to regulate speculative capital, in order to protect the domestic economy from volatile capital flows. “Malaysia’s hesitation in adopting capital controls could be due to a perception and fear that it will further damage the country’s economic standing and competitiveness in the eyes of investors,” he said in a press conference at the Parliament lobby here Tuesday. He was responding to Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah telling Bloomberg in a recent interview that the Government was not considering capital controls at this time. Ahmad Husni said the country was benefiting from capital inflow and the appreciation of the ringgit was not affecting the property market as in other countries. Charles said the recently concluded G-20 meeting in Seoul indicated that emerging markets facing a surge in speculative capital inflow could impose regulatory mechanisms to stem asset bubbles. He added that developing countries, including Malaysia, would experience a further surge of hot money flooding the stock, currency and property markets, leading to asset price bubbles and higher inflation. “These groups are of the opinion that emerging markets need to adopt capital controls in order to regulate the huge inflow of hot money (speculative funds), which has the potential of destabilising economies and financial systems, as experienced in 1997,” he said. Deputy Finance Minister Datuk Donald Lim said the ministry and Bank Negara Malaysia were monitoring hot money. “Bank Negara is in the position to handle all these. We have the experience in financial crisis. “I don’t think the suggestion is necessary. At the moment, we have some form of control,” Lim said.         | ||
| Economy can crash without capital controls, says DAP Posted: 23 Nov 2010 02:27 AM PST Source:Free Malaysia today Tue, 23 Nove 2010 14:15    By Syed Jaymal Zahiid KUALA LUMPUR: Malaysia’s economy is set to crash if no regulation is imposed on the inflows of hot money, DAP economist Charles Santiago said. A rallying market and appreciation of the ringgit have forced the government to think twice before imposing capital control. Second Finance Minister Ahmad Husni Hanadzlah has said in an interview with Bloomberg recently that "we are benefiting from the capital inflows and the appreciation of the ringgit. It's not affecting our property market like many other countries." The World Bank has warned that Asian economies may need to impose capital controls as "quantitative easing by the US threatens to spur asset bubbles in the region". Santiago referred to the just-concluded G-20 meeting in Seoul, South Korea, where it was held that emerging markets need to adopt capital controls to stem a recurrence of the financial crisis experienced by this region in 1997. “Hot money has the tendency to create asset bubbles in the currency, stock and property markets,” the Klang MP told a press conference at Parliament lobby today. US-waged currency war In 2009 about US$9 billion worth of hot money flowed between developed and emerging economies and this has increased to some US$46 billion (RM143 billion) since January-September this year. The US Federal Reserve has recently announced that it will fork out US$600 billion (one per cent of global GDP) to buy up US Treasury bonds. The US move has triggered fear that developing countries like Malaysia will see an influx of hot money that can lead to greater appreciation of the ringgit and hurt exports badly. The ringgit appreciated by 9.5% against the greenback in the last five months. Bank Negara Malaysia said it was aware of the vast cash inflows and was monitoring the capital movement, but Santiago said surveillance alone was not enough. “As in 1997, the damage was done when we finally imposed regulation when capital inflows went out of control.” No control signals snap polls Santiago, who is also Klang MP, argued that the government’s refusal to regulate capital movement signalled its preparation for an early general election. In theory, the illusion of a strong market and ringgit creates a “feel-good factor”. The aim is to build voter confidence in the government. Talks of possible snap polls as early as March next year are rife, as Prime Minister Najib Tun Razak is said to be in need of a fresh mandate to implement unpopular reform policies which include, among others, opening up the market. Regulating capital movement can be seen as anti-free market and may repel investors, which explains the government’s refusal to block hot money inflows, claimed Santiago. “But the government should be encouraged to view capital controls as a protective policy to insulate the local economy from destabilisation,” he added. Emerging markets like Brazil, China, Indonesia and Thailand have all adopted protective measures against hot money, he said.         | ||
| Posted: 23 Nov 2010 01:06 AM PST | ||
| Posted: 23 Nov 2010 12:53 AM PST Source: Guang Ming
 （雪蘭莪‧巴生21日訊）行動黨巴生國會議員查爾斯指出，自308大選後，國陣依舊沒正視華裔和印裔的福利和權益，因此他促請非馬來人別再"上當"相信國陣所有不可能實現的承諾，並把這股力量轉向繼續支持反對黨，以便削弱國陣的霸權。 他說，11月25日是興權委員會謀求印裔福利而發動大示威的3週年紀念，許多印裔都已淡忘此事，而國陣也沒實現公平對待各族的承諾。 "這從教育政策上就可看出，許多獲優越成績的華裔和印裔都無法獲政府獎勵金，以致他們申訴無門，無法依靠政府的資助來完成學業，白白流失人才；這個問題從308前到308後，一直重复上演。" 查爾斯週日在班達馬蘭舉辦一場屠妖節開放門戶上，呼吁華裔和印裔別再繼續受國陣蒙騙和愚弄，因為國陣根本沒改革的決心。 他說，反觀民聯所執政的州屬，3年來逐步改善不公平的政策和弊端，或許3年的時間太短而無法把所有弊端改過，但民聯卻有志推動所有改革，而且許多成績也有目共睹，因此人民應繼續給予支持。 "國陣掌權50多年，許多不好的政策都難在短時間內一下子糾正過來，民聯需要更多時間來進行改革，這點需靠人民支持。" 他說，2007年11月25日的大示威，是印裔覺醒的一個重要里程碑，他促請所有印裔記得這一天，並持續他們改革的鬥爭，千萬別再被國陣愚弄。 另外，查爾斯表示，如今國人都是各自過各自的佳節，例如印裔的屠妖節、華裔的農曆新年及巫裔的哈芝節，各族之間都只知道這些佳節有假期，卻沒真正瞭解友族的這些佳節歷史和意義，顯示各族之間仍存有隔閡。 因此，他希望各族人民能改變這種看法，以便以後各族之間一起慶祝各個佳節並瞭解節日的意義，體現多元社會的真諦。         | ||
| DAP MP wants Malaysia to impose capital controls Posted: 23 Nov 2010 12:06 AM PST Source: The Malaysian Insider By Clara Chooi November 23, 2010  KUALA LUMPUR, Nov 23 – A DAP MP wants Putrajaya to impose capital controls like that which former prime minister Tun Dr Mahathir Mohamad enacted in 1997 to prevent what he called an impending surge of hot money into the local market would put Malaysia into a tailspin similar to the Asian Financial Crisis.Klang MP Charles Santiago (picture) explained that this time the hot money would come from the US Federal Reserve's move to spend a whopping US$600 million (RM1.8 trillion) to purchase US Treasuries over the next eight months under its quantitative easing programme."You will see a surge in the property, currency and stock markets, including even in food and oil. Therefore, Malaysia has to do something in order to control such movements. "When the money comes in, it may look all nice but when it leaves, it will leave a whole lot of destruction along the way. Thousands will lose their jobs, our SMEs will shut down," he warned. Santiago said it was imperative for the government to impose capital controls immediately instead of waiting for the present economic crisis to end, pointing out that this was already done in Korea, Indonesia, Thailand and even BRIC nations like Brazil and China. He was referring to Bank Negara Governor Tan Sri Zeti Akhtar Aziz's statement yesterday that the central bank was not considering implementing capital controls to deal with the inflow of funds, due to massive liquidity in western economies that are seeking higher returns in faster growing emerging markets. She had also noted that the large and volatile capital inflows into regional economies could pose risks to macroeconomic policies and financial stability, claiming that Malaysia was in the position to intermediate the flows. The country, she added, had also gained experience from the 1997 Asian Financial Crisis. Last week, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah had also, in an interview Bloomberg, made a similar statement, pointing out that on the flip side, the country was benefitting from capital inflows. He also claimed that the appreciation of the ringgit was not affecting the property market like in other countries. Charles, however disagreed with the view, warning that the country was heading into yet another tailspin like it did in 1997 if it failed to regulate capital inflow and protect the local economy. He also echoed Dr Mahathir's recent cautionary message that the rising Kuala Lumpur Composite Index (KLCI) was no indication of a healthier economy, pointing out that it was an "artificial" feel-good factor due to the influx of hot money or speculative capital in Malaysia. In his blog post recently, the former premier had also referred to reports on the US government's move to pump in USD600 billion into theUS economy with part of the money possibly being invested in stock and shares of developing countries, similar to previous episodes of hot money flooding stock markets around the world 12 years ago. "There is a similar trend that you can find in Indonesia, which you can find in Singapore and Thailand and South Korea, where the hot money is coming in in a very big way into emerging markets and this will push up inflation and asset bubbles, which is the cause of the major crisis in 1997 and, to some extent, the present crisis," said Santiago, an economist by training. He acknowledged that Malaysia's likely concern against adopting capital controls was the fact that it would be likely viewed by foreign investors as an anti-free market policy. "I can understand that view because in our current precarious economic situation, foreign investors are not looking at Malaysia, and our government feels that imposing capital controls would be viewed negatively. "Our government fears that it would only serve to further damage the country's economic standing and competitiveness in the eyes of investors. "But the world has changed today and now, capital controls is perceived or accepted as a part of a government's policy tool to protect the economy," he added. Santiago continued that capital controls should rightfully be viewed as a protective policy to insulate the local economy from destabilisation, a phenomenon recently adopted by other countries like China, Indonesia, Thailand, Brazil and South Korea. He also quoted the South Korean Strategy and Finance Ministry's recent statement prior to the G20 meeting that "the government believes it needs to turn away from the perception that controlling capital flows is always bad and consider introducing measures to improve macroeconomic prudence." "Therefore, Malaysia should not fear that there will be a market backlash. Even Dr Mahathir was smart enough to impose it at the time of the 1997 crisis. He was seen as a naughty boy then but now, capital controls is an accepted policy tool of the government to regulate money coming into the country. "Malaysia should not shy away… it is not an anti-free market policy. It is necessary to protect our local industries," he said. Santiago further pointed to the country's sluggish 5.3 per cent growth in the economy in the third quarter of this year, pointing out that Malaysia could not afford to see a further appreciation of the ringgit. "If the currency appreciates further, then our SMEs will be in trouble. We cannot compete with other nations and this will impact a loss of jobs," he said.         |
查尔斯（左图）今天在国会走廊召开记者会时促请政府将资本管制纳入政策之中，以控制大量流入我国货币、房地产和股票市场的热钱，以防市场泡沫化，进而导致通货膨胀。
林祥才表示（右图），我国不能就此事立法，因为我国走的是开放市场经济，并且已经预期这些热钱会流入，他认为国家银行可以处理这些热钱。此外，我国也经历过这一次的金融风暴，我国可处理得很好。
| You are subscribed to email updates from Charles Santiago To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
Tiada ulasan:
Catat Ulasan