Meltdown gives rise to worrisome Asian contagions

WorldTribune.com, 22 Dec 2008, Sol Sanders

"Initial braggadocio [and not a little Schadenfreude] from East Asian leadership that their massive foreign exchange reserves would limit their exposure to the world catastrophe and that they would and could help bail out the U.S., Japanese and Western
economies is now lost in the wispy memory of Mao’s East Wind.

Singapore’s thrust to redress its nanny state into a new pleasure dome with casinos [and gambling] as well as financial services couldn’t have chosen a worse moment to debut with or without new ageing and ill Lee Kwan Yu’s “Asian values” — with even legendary Macao, the gambling capital of China and Asia, shuttering new Vegas-style palaces."

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