Malaysian Deputy Prime Minister Datuk Seri Anwar Ibrahim continues to impress observers of the Asian economic and political scene with his prescience and pragmatism. Refusing to be drawn into the grandstanding and diversion of blame style of other Asian leaders, Anwar's positive reactions demonstrate that he has all and more of the qualifications and style needed to become a real force among the next generation of Asian leaders. 

A man of strong beliefs in the need for income redistribution and the eradication of poverty, he demonstrates by his actions daily how Muslims can indeed be a force in the modern global economy without compromising their beliefs and traditions. A strong and traditional Moslem, Anwar has managed to build a power base in Malaysian politics without owing too many favours to the Malaysian political elite, freeing him to become a major facilitator for political and social change and a worthy successor to Prime Minister Mahathir, who has achieved much in Malaysia's growth.

According to Bernama, in an in depth interview in The Australian, Anwar said that a new Asia would emerge from the financial problems that would be "..more confident, more mature and liberal and democratic...". Even though Asia would suffer setbacks, it would produce a host of reforms and and openness which would transform regional economies for the better. 

"...The great lesson we have learned, which is actually a major transformation and a revolution by itself, is that it has called for greater transparency, greater accountability, and greater democracy..."

"...Now people assess what the markets say, what people perceive, whether wards and grants are given to your party supporters or to friends or family. These are now openly debated, without exception..."

"...There will be a transformation to build a new Asia.."

While the last ten years of growth has been welcome, its downside is that has has insulated questions about the fundamentals of Asian social, political, and financial processes. Apart from the separate argument of whether "Asian Values" really do exist or were just a blunt weapon for Yew, Mahathir and others to bash over the heads of Westerners who were impertinent enough to question the methods of the ruling elites, they were not the major impetus for the latest Asian Renaissance. If the tenets of "Asian Values" were truly valid and carried to their ultimate conclusion, there would have been no crash at all....

The major impetus was less idealistic. It related to foreign (both Western and Asian) investors with extra funds who had nowhere else to invest it at the time, their innocence of Asian ways in placing their confidence in institutions and people they should not have, and the over-willingness of Asian leaders to accept this investment despite the potential damage to still fragile social and business structures. Greed was the motivator from both directions. 

At those famous dusty crossroads, much of ASEAN sold their soul to the man in the dark suit. 

Maybe in Anwar's new transformed Asia, greed will not play such great a part...

29 January 1998