The Nation,March 18, Soros ha

[suriya@xxxxxxxxxxxx]

      Soros hails democracy

      NEW YORK -- George Soros prefers to talk
      about his philanthropic works rather than
      how he makes money from hedgefunds
      around the world. 

      Soros, 68, is a simple and casual man but
      busy as always. The first thing his press
      official said was that he was on extremely
      tight schedule, having just arrived from a
      tour of Russia and Eastern Europe, where
      he is a major investor, so he would be
      available for an interview in-between
      meetings. 

      He was much at ease discussing his
      network of philanthropic works in 31
      countries throughout the world. He liked to
      talk about the economic progress made in
      South Korea and Thailand after both
      economies faced the meltdowns and how
      open societies can promote economic
      prosperity and progress. 

      Soros said he follows the Asian crisis
      closely and expressed sympathy with the
      crisis there. ''With a spartan upbringing, we
      want to suffer other people's suffering
      without flinching. Asia is in deep crisis,'' he
      admitted. 

      At first, he said there had been fears that
      the Asian crisis would have a far reaching
      impact on the West, which as it turned out
      was over-estimated. 

      ''The opposite has happened. The Asian
      crisis has had beneficial effects because it
      has reduced the threat of inflation and the
      need for new interest rates,'' he said. ''The
      market is scaling new heights. People tend
      to forget that there is a crisis in Asia.'' 

      Soros is a rather controversial person in
      Asia, especially in Southeast Asia, where
      he has been blamed for the crisis.
      Malaysian Prime Minister Mahathir
      Mohamad even singled him out as the main
      culprit. Love him or hate him, Soros
      continues to concentrate on his
      philanthropic works in Eastern Europe and
      Russia, of which he talks with passion. 

      He said his main mission is to transform
      closed societies into open ones and
      promote existing open societies. Soros
      believes that people living in society must
      work closely together, they must also have
      loyalty and a spirit of cooperation. 

      ''You do need discipline, but it must be
      voluntary, not imposed by the police,'' said
      Soros. He said countries like South Korea
      and Thailand are moving in the right
      direction as far as democracy was
      concerned. 

      That is the main reason why he supports
      democracy in Burma. His Open Society's
      Burma Project, based in New York, has
      been pouring money to help the democratic
      cause of Burmese Nobel laureate, Aung
      San Suu Kyi. 

      Soros said he has never met Suu Kyi nor
      does he know her personally he just
      appreciates her fighting spirit in standing
      up to tyrants. In Burma, he said, there are
      people fighting for democracy. 

      ''There are democrats who I can support,
      Aung San Suu Kyi is one of them,'' said
      Soros. The Burma Project promotes
      international awareness of the repressive
      regime in Burma. It also trains Burmese
      refugees and provides scholarship for
      Burmese students in exile. 

      He said although there are charity works in
      Thailand, they are not for the Thais but for
      Burmese. ''Philanthropic works and
      business don't mix,'' he insisted. 

      As a rule, Soros said he initiates
      philanthropic works in countries where he
      has no business interest -- something which
      is increasingly difficult to implement. 

      He said the Open Society has been running
      a lot of programmes throughout Eastern
      Europe since the collapse of the communist
      system in 1990. ''We were there long ago
      before they turned into investing markets,''
      he said. 

      Asked if the Soros Fund Management was
      interested in investing in Thailand, he said
      his fund managers have expressed interest
      in the country. According to PM's Office
      Minister Abhisit Vejjajiva, Rodney Jones of
      Soros Global Reach, a research arm of the
      fund, visited Bangkok early this month and
      met him. 

      During last week's meeting between Soros
      and Prime Minister Chuan Leekpai in New
      York, the two exchanged views on the
      Asian crisis. 

      Soros has made several observations
      relating to Thailand's economic situation.
      He said the country needs a boost in
      recapitalisation for banks and must provide
      enough liquidity to promote the export
      sector. 

      The situation in Indonesia, he pointed out,
      would have a modest negative impact on
      the baht in the short run. ''The market has
      treated Thailand and Indonesia differently. It
      has differentiated between the two,'' he
      said. 

      Of Chuan, Soros said, ''He is moving the
      country in the right path, and I wish him
      success.'' 

      BY KAVI CHONGKITTAVORN 

      The Nation