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Mahathir Mohamad, prime minister of Malaysia, shows an increasing tendency to talk rubbish. Commenting in early September on foreign investor selling of Malaysian stocks and the ringgit, he said: "They are racists. I say it openly. They are not happy to see us prosper."

Winning the China game

Singling out the individual may appear out of keeping with the vogue for emphasizing the team. But in China, having the right individual on board is the most important factor in business success.

When Gao Xi-Qing arrived in Hong Kong in August his arrival was greeted by a typhoon called Victor. Staff at Bank of China already acknowledge that typhoon Gao, their new boss, is set to shake things up more than your average king-wind.

A budget, a new credit policy and a report into currency convertibility, all introduced in the first half of this year, have boosted investor confidence. Phillip Moore analyzes their significance.

For emerging-market bond investors in the know, the former Soviet Union - especially central Asia - is the place to be. Debt markets have rallied across the board, yields are mostly buoyant, and currencies have held their own against the dollar. But title and settlement can sometimes be a little hairy. Theodore Kim investigates the excitement.

Hostile bids and privatization have loosened bank/company relations and let in the foreign investment banks. There's no looking back. By Laura Covill.

Regional governments are taking back control of local businesses in the name of saving jobs and preventing foreign speculators from taking over. While some observers regard this as an undesirable move, things could be worse. Renationalization, the bogey which haunted Russia's first few years of market reform, has melted away as the Kremlin moves to sell whatever mineral fortunes it has left. But relocalization is just gathering steam.

Since Anatoly Chubais became finance minister, Russia's stock has risen dramatically. The architect of privatization is now pushing ahead with wide-ranging economic reforms, to the delight of the international community.

Finance Minister and Central Banker of the Year: The regional winners

Traditional habits are disappearing as Austria's economy is overturned in the quest for survival in Europe and more opportunities in the former communist states, reports Nigel Dudley.

Wang Qishan is president of People's Construction Bank of China and chairman of cicc, its investment-banking joint venture with Morgan Stanley. His banking group is the third biggest in China by assets and employs half a million people. He was formerly a deputy governor of the People's Bank of China and is very highly regarded by China's economic chief, deputy premier Zhu Rongji - so much so that he's shortlisted to be the next central bank governor. He spoke frankly to Steven Irvine about Morgan Stanley, the joint venture and investment banking.