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Quick, concerted action needed to avert global recession

Asia has been spared the contagion of the US, Europe financial crisis but there is no room for complacency

• REGIONAL PERSPECTIVE

  Asean summit should be postponed

  BEFORE THE VIOLENT crackdown on the morning of October 7, it would have been insane to suggest that the upcoming Asean Summit should be rescheduled. Now it is clear as sunrise that the government under Prime Minister Somchai Wongsawat is no longer in the position to play host to a series of summit meetings, beginning mid-December, let alone attending upcoming scheduled summits such as the Asia-Europe Meeting in Beijing and the Asia-Pacific Economic Cooperation in Peru.
• GOOD I PRAISE ... DOUBTFUL I RAISE

  Time to turn on other growth with engies as exports look set to be hit

  TWO WEEKS AGO in this column, I explained that the proposal of Henry Paulson, the US Treasury Secretary, was the proposal that led investors and the general public into believing that there would be a big buyer of distressed assets from the financial institutions, thereby reducing their burden of write-offs and provision for loan losses. As a consequence, their financial position would not further deteriorate. I also indicated that if Paulson's proposal was rejected by the Congress, the investor would be much disappointed and that would lead to a catastrophe.
• CHANG NOI

  The fatal logic of the latest October tragedy?

  IT'S STILL ALL about Thaksin. The people on Bangkok's streets last week were not fighting for or against "new politics", because nobody really knows what "new politics" means. Every time a PAD person tries to explain, it comes out differently. They were not fighting for or against the current government, because everybody knows this government is a tatty puppet made out of rags and refuse. They were fighting against Thaksin - the possibility he might return or might escape legal reckoning.