Malaysia's former leader Mahathir Mohamad on Friday buried the hatchet with George Soros, saying he now accepts that the U.S. financier was not responsible for the 1997 Asian financial crisis.
Mahathir, who once called Soros a "moron," met with him for the first time since the economic crisis made them bitter foes, and also explained to the Jewish billionaire that he was not anti-Semitic despite his persistent criticism of Israel.
"Mr. Soros said he is not involved" in the currency speculation that triggered the financial crisis, Mahathir told reporters after a one-hour meeting. "I accept that," Mahathir said.
Mahathir has for nearly one decade insisted that Soros wrecked the region's economies through currency speculation. He had also said that attacks on the Malaysian economy were part of a Jewish conspiracy against Muslim nation.
Mahathir, who retired in 2003 after 22 years in power, on Friday repeated his denial of charges that he is anti-Semitic.
"Somehow or other I have been labeled anti-Semitic. ... I would like to say that I am not anti-Semitic, not anti-Jew," Mahathir said. "But I am very much against what is happening in Palestine, where the Israelis have tried to out-terrorize the Palestinians."
In the past he has said there are suspicions that Jews "have an agenda" and that "Jews are not happy to see the Muslims progress." But he has couched the statements by saying these are the sentiments of the people and not his personal views.
Mahathir met Soros at a luxury Kuala Lumpur hotel where Soros is staying during his two-day visit for a meeting of the London School of Economics Alumni Society. He was set to make a speech to the society later Friday.
Soros said the focus of his meeting with Mahathir was global affairs. He added that their "view of the world is really very similar," especially concerning mistakes that they believe U.S. President George W. Bush has made in fighting terrorism.
"The Bush administration has actually gone out of its way to humiliate and torture people in Iraq," Soros told reporters. "As a result, the rest of the world very often looks at the United States in the same light as we look at the terrorists."
At the height of the Asian financial crisis, Mahathir called Soros a "moron," and Soros hit back by accusing Mahathir of being a "menace" to his own country. Mahathir replied that Soros was a menace to the world economy.
Soros, a self-made Hungarian-born billionaire, was ranked number 27 in Forbes' list of 400 richest Americans in 2006, with a net worth of US$8.5 billion (�6.6 billion) to his name through hedge funds. He is currently on a regional trip to publicize his new book "The Age of Fallibility," reports said.
Mahathir took bold measures to rejuvenate Malaysia's economy during the economic crisis, and unlike neighboring Thailand and Indonesia, did not turn to the International Monetary Fund for assistance.
The country recovered from recession after fixing its currency, the ringgit, at 3.8 to the U.S. dollar in 1998 to insulate it from fluctuations, and imposing sweeping exchange controls.
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