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Old July 1, 2012, 12:01 AM
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Sohel Sohel is offline
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Of course there's no upside to this now. I was talking about the long run in my post. This will force reform over time because our economy, especially in light of the cyclical recessions such as the type we're experiencing now coupled with high price of the USD, can't take too many hits. We have a culture of foreign currency depletion through "hundi" and other means, and with the notable absence of a gold standard to provide supplementary stability, such promised influx of funds not coming into the country makes things worse. Hopefully more inward remittance from largely working class Bangladeshis working abroad can ease the blow before the wealthy take a large part of it out of the country again.

The Malaysians will try and get every business advantage they can out of this disaster. The government will agree to higher interest rates and terms more favorable to Malaysia to push this through in order to save face. That being said, I don't think this government will or can allow those favorable terms to damage our national interest.

In a fair world, Rehana, Abul, Nixon and their Canadian buddies would be forced to foot the difference.
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Last edited by Sohel; July 1, 2012 at 12:40 AM..
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