almotamar.net - The University of Aden granted Wednesday an honourary Doctorate Degree to the former Malaysia Premier Dr Mahatir Mohammed. The granting ceremony was attended by governor of Aden Dr Adnan al-Jifri and Dr Abdulaziz Bin Habtour, president of Aden University in addition to a number of professors and officials of Aden and the university.

Dr Mahatir Mohammed earlier gave a lecture at the University of Aden on the world crisis and its results on world countries and the ways of limiting its impact. In his lecture he explained the reasons that led to the crisis saying the main cause of which was connected to other reasons that made it collapse in an unprecedented form and being inflicted with big material losses. Among the causes is the attraction of great foreign investments from Europe and developing countries then investing them in a disorganized form for unsafe lending as well as and not knowing the borrower capability of repayment and meeting commitments . That was resulting from greed and the large and quick profit.

Dr Mahatir said the belief that the market would organize itself by itself is a mistaken belief because the market does not concern about profit only and does not interfere in the plans target but gaining more profits. Also there is no power on the market but it is organized by supply and demand.


He said all the countries would be affected by this crisis but the extent of influence depends the economic and trade and investment connections of those countries with the Unite States of America and Europe. He clarified that the US, through investment of treasury bonds, is indebted with $15 trillion to the world and that means it is bankrupt and cannot repay its loans.