Thanks for the welcome and summary oneforthe.
But this is what I am disputing in part. I do not see the delay in licensing. I do not see the government looking for an out. There will be continuous monitoring. There could be higher insurance costs. But I think the licensing "paperwork" claim in the media last week is a joke. I also think the government wants to show full due diligence AND wants the licensing to proceed on time.
Our Western thoughts lead us to believe a delay is a necessary nod to the Greenies. I don't get that impression from the Malaysian government. These guys show more leadership than that IMO. It seems like they want to spell out their due diligence in a step by step manner and maintain a timely review process.
Furthermore, I think being timely shows more diligence by the Malaysian government, not less. I like their approach.
As for GFC2. I'd prefer that was a once in a lifetime event. So far I don't see it happening. Credit spreads, loan activity, inventories, forward indicators all suggest slow growth without reason for panic. The only people who should panic are the current politicians, because the current economics are not what I would call "incumbent friendly" to anyone.
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