No Joke, Malaysian Economy's Condition Now

This is a very disturbing news for the working class like myself, but I think it is a good manner by this Second Finance Minister to bravely admit that our economy is indeed in stagnant mode and has been in bad shape for the last few decades. We don't often hear our Ministers make such a revelation, more so from those few laughable Ministers who has been in the news lately.





When he compared our country with the economies of China, India, Vietnam, Indonesia, Philippines and Thailand, we were made known that ours has the 2nd lowest economic growth rate. Luckily, he did not proudly say that we are not the worst one. But don't be surprised few of the clowns will think that way.


Among his relevations:

> We have lost our competitive edge to remain as the leader of the pack in many sectors of the economy. Our private investment has been steadily in decline.
> While Singapore and Korea's nominal per capita GDP grew within the last three decades by 9 and 12 times respectively, ours grew only by a factor of four.
> The services sector is underdeveloped, private investment is half the levels before the 1997-98 Asian crisis, and the manufacturing sector is suffering from lack of investment.
> Measures including an emphasis on meritocracy and ensuring all Malaysians are given "equal opportunity to participate in the economy are needed
> Must also consider the gradual dismantling of our open-ended protection of specific sectors and industries which have introduced a climate of complacency and artificial levels of supply
> The long-term success of the nation's economy must take precedence over the short term interests of a few protected groups


What a good point! I just hope to see the few controversial clowns come out and say something on our economy, and I believe it will be superficial yet funny. It is also the time for our PM to show how good he can become.