In These New Times

A new paradigm for a post-imperial world

East Asia Economic Community

Posted by seumasach on September 27, 2009

Dr. Mahathir Mohamad
27th September, 2009
1. I am glad to read the report that the new Prime Minister of Japan, Yukio Hatoyama intends to pursue the proposal for an East Asian Economic Community.

2. I had always felt that the countries of East Asia should speak with one voice when negotiating with the European Union and the North American Free Trade Agreement (NAFTA). If we don’t then the Europeans and the Americans would dominate such negotiations. Obviously they would want to favour themselves to our detriment.

3. This is not about hating the West as someone suggested when I drew attention to a UN Agency proposal to have a special currency to replace the US Dollar for the purpose of trade settlements and reserves. It is simply because unlike other countries the US Dollar is not backed by anything.

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