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(Both China and India impose currency controls. The World Bank estimates that the planet's 250 million international migrants remitted $583 billion in 2014).
The index had already plunged 9% since mid-December as investors quickened the pace of exodus from Thailand in response to its move to impose currency controls on a wide range of foreign investment.
The level of foreign investor confidence was already low well ahead of the New Year holidays rocked by a hasty decision by the government on Dec. 19 to impose currency controls on bond, equity and money market investments arriving in Thailand from abroad.
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Alternatively, Moscow could have imposed currency controls.
Of late she has shifted further in Mr Chávez's direction, raiding central-bank reserves, imposing currency controls and raising trade barriers.
Malaysia, for its part, defied the received financial wisdom and imposed currency controls, while fixing its exchange rate.These controversies have now played themselves out, by and large.
Chávez imposed currency controls a decade ago trying to stem capital flight as his government expropriated large land parcels and dozens of businesses.
The exchanges said the 172,000 owners of the shares, whose trade was outlawed when Malaysia imposed currency controls in September 1998, would be able to choose between two plans for releasing their shares onto the Malaysian market for a fee.
There were shortages in 2003 after the then president, Hugo Chávez, imposed currency controls to prevent capital flowing rapidly out of Venezuela amid widespread distrust in the private sector following a series of land expropriations and corporate nationalisations.
The near-collapse of the financial system caused a 90% drop in the domestic stockmarket, extensive problems for money market funds, the evaporation of more than one-third of the value of the national pension system and a nearly uncontrollable depreciation of the Icelandic krona (before the Central Bank imposed currency controls after two days of unsuccessful attempts to defend the currency).
But this time Mahathir practiced what he preached and imposed currency controls, at a stroke transforming Malaysia into a pariah state in the global investment community.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com