Globalization enabled Malaysia to record rates of growth of around 8 percent between 1987 and 1996, but it also precipitated the Asian crisis of 1997–“8. As a result, Malaysians are ambivalent to the extent to which the economy should be opened up to the forces of globalization. This ambivalence was evident in the policies to counter the crisis proposed first by Finance Minister Anwar Ibrahim, a liberal reformer, and then by Prime Minister Mahathir Mohamad, an economic nationalist. Malaysian attitudes toward the two policies were further confused by the political rivalry between Anwar and Mahathir. Malaysia’s attempt to manage globalization has also been evident in its regional economic policies.