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Quote by Lailah Gifty Akita

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Pearls of Wisdom: Great mind

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Lailah Gifty Akita

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“Financial Times commentator Martin Wolf concluded in 2010: "We already know that the earthquake of the past few years has damaged Western economies, while leaving those of emerging countries, particularly Asia, standing. It has also destroyed Western prestige. The West has dominated the world economically and intellectually for at least two centuries. That epoch is now over. Hitherto, the rulers of emerging countries disliked the West's pretensions, but respected its competence. This is true no longer. Never again will the West have the sole word." I was reminded of the Asian financial crisis in 1997. When Asian economies were devastated by similarly foolish borrowing the West – including the International Monetary Fund and World Bank – prescribed bitter medicine. They extolled traditional free market principles: Asia should raise interest rates to support sagging currencies, while state spending, debt, subsidies should be cut drastically. Banks and companies in trouble should be left to fail, there should be no bail-outs. South Korea, Thailand, Indonesia were pressured into swallowing the bitter medicine. President Suharto paid the ultimate price: he was forced to resign. Anger against the IMF was widespread. I was in Los Angeles for a seminar organised by the Claremont McKenna College to discuss, among other things, the Asian crisis. The Thai speaker resorted to profanity: F-- the IMF, he screamed. The Asian press was blamed by some Western academics. If we had the kind of press freedoms the West enjoyed, we could have flagged the danger before the crisis hit. Western credibility was torn to shreds when the financial tsunami struck Wall Street. Shamelessly abandoning the policy prescriptions they imposed on Asia, they decided their banks and companies like General Motors were too big to fail. How many Asian countries could have been spared severe pain if they had ignored the IMF? How vain was their criticism of the Asian press, for the almost unfettered press freedoms the West enjoyed had failed to prevent catastrophe.”

HypocrisyEconomic CollapsePress FreedomAsian Financial Crisis
Book:OB Markers: My Straits Times Story
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“Before the crisis, my life moved along like a well-planned play. I showed up and acted my part while the script directed the flow. The devastation demanded I grieve while the play of my life continued around me. I wished I could stop the spinning stage long enough to catch my breath.”

TraumaGrief And LossHope QuotesRestorationHealing InsightsHope And DespairRecovery QuotesHealing TraumaRecovery InspirationGrief Inspirational Breavement
Author:Shauna L. Hoey
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“Often at shelters, we hear, 'I told my child she could get a pet, but she will have to take care of him.' That is an unrealistic expectation and often results in the pet being returned days, weeks, or months later. It is hard for pets to go in and out of a home. They bond with their humans and when they find themselves at a shelter, they become stressed at being taken away from home and the people they love. When an 'easy-way-out' decision is made to give up a pet, we are teaching our children that animals can be given away, turned away, and gotten rid of at the drop of a hat. If you are considering getting a cat or kitten, go into it fully aware that the adults in the home will have to help with the care of the pet.”

CatsPetsForever HomeChildren And Pets
Book:Animal Rescue League of Iowa for Love of Cats: A Hands on Journey
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