The Dandelions

.. the mutual admiration and bashing society.

“Tai Chi” Master Wannabe…..Not This Time Dude!!!

Posted by ErnieJean on September 18, 2008

What do you think of Malaysia’s economy today? Progressing, like how the current government is trying to convince us, or sinking faster than Titanic, like how many of us are experiencing……….

How many of us know of someone who has either migrated or applied for jobs overseas, in particular, the Middle East, mainly because of the sufforcatingly high cost of living in this country, amplified by artificially surpressed salaries. Or read about the increase in victims of loan sharks, desperate for cash, due to failing businesses or escalating medical bills? Or see big corporations boasting about their business ventures overseas but nothing about the local ventures?

How did a nation with so much promise and all geared up for 2020 hit a boulder? Did all these only happen just recently? Could one man’s alleged smearing campaign overseas have caused the hardship experienced by Malaysians?

The Star, Thursday September 18, 2008
Pak Lah: Anwar a threat to security and economy

PUTRAJAYA: PKR adviser Datuk Seri Anwar Ibrahim is a threat to national security and the economy due to his lies, Datuk Seri Abdullah Ahmad Badawi said.

He said the Opposition Leader had spread false information overseas about the country’s economic stability to the extent of investors reporting that Malaysia was not a good country to invest in due to political instability.

“The country still receives foreign direct investments and is one of the countries which foreigners want to invest in. Even our competitiveness ranking improved from 23rd to 19th position.

“So what is he saying? He is exploiting the trust the people have in him by saying all these, which is not helpful,” he said, adding that although there was no tremendous economic development, the country still had made significant progress.

Speaking to reporters at his office with his deputy Datuk Seri Najib Tun Razak seated beside him, Abdullah said Anwar ignored positive developments in the country.

Asked how the Government would act, Abdullah said he could not say yet but gave an assurance that any action would be in the best interest of the people and country.

It seems to me, someone’s found a “scapegoat” for his 5 years of incompetence in the managing of a country’s economy, doesn’ it?

In the first place, is the good PM saying that foreign investors are all dumbasses and have no brains of their own? That they “goyang kaki” in their offices and wait for whoever from whichever country to tell them their side of the story about a country’s potential economical prospect?

And IF Anwar has been doing just that, looks like he is not doing a great job at it lah, because, if what the PM is saying about our country’s competitiveness ranking has improved economically is true, we shouldn’t be affected, right?

Wanna know why majority of Malaysians are finding it harder day by day to make ends meet? I think the analysis by Wall Street Journal says it all…….

WALL STREET JOURNAL ASIA

Opposition leader Datuk Seri Anwar Ibrahim announced this week that he has enough parliamentary support to unseat the current government, led by Prime Minister Datuk Seri Abdullah Ahmad Badawi. If he does, Abdullah’s lacklustre economic management will be largely to blame.

The prime minister has not introduced any substantive reforms during his nearly five years in office, preferring to rely instead on opening up the government purse. Under the Ninth Malaysia Plan announced in 2005, he expanded public-sector spending to RM200 billion annually from RM160 billion. In his Midterm Plan Review this year, he increased this outlay to RM240 billion. The national debt now stands at RM285 billion, up from RM192 billion in 2004. The official fiscal deficit has risen to 4.8% of GDP this year, from 3.2% last year. Revenue is being spent faster than it is coming in.

It’s hard to argue that these outlays have served the broad public interest. Much of the funding has been channelled to elites in the majority Malay community, under the country’s pro-Malay affirmation action programme. That has created discontent with many Malay who don’t see the full benefits of the programme, and among the minority Chinese and Indians, who are excluded from it altogether.

Abdullah’s stewardship has had a real impact on the economy. Capital flight has risen sharply; Malaysian investment abroad now exceeds inward foreign investment. The Kuala Lumpur stock exchange has lost almost one-fifth of its value this year to date. Malaysia’s currency, the ringgit, saw its biggest one-month loss last month since the end of the dollar peg in 2005. Although GDP growth has averaged a robust 5% annual growth under Abdullah, that record is now under threat. Inflation reached a record 8.5% this summer. Job creation has reached record lows, as unemployment, particularly among young majority Malays, remains high. Ironically, only the opposition-led state governments are attracting new foreign investment – and without the federal government’s help, no less.

Abdullah’s 2004 attempts to promote growth and investment – such as through the promotion of the biotechnology and agricultural industries – have failed. He also fumbled discussions with the United States on a free trade agreement, which have now stalled. What Malaysia really needs is education reform and the liberalisation of its labour markets to improve its economic competitiveness.

The political opposition, in the form of Anwar and his Pakatan Rakyat coalition, have seized on these issues. They have promised to root out corruption and to implement a new economic policy to address the concerns of all ethnic communities in Malaysia. Their platform aims to move beyond populist spending to introduce structural reforms in government procurement programmes and in the management of government-linked companies.

When Abdullah assumed office in 2004, he inherited an economy in need of structural reform. Malaysians have had to pay for his poor stewardship through higher prices, stagnating wages and growing private sector debt. Soon, Abdullah may have to pay the political price for that record.

So, who do you think should be facing the music for doing such a lousy job at handling the country’s economy? For being a threat to national security and economy?

A piece of advise to all the “tai chi” masters out there……next time, when it’s already become too obvious who was responsible for all the shit, forget about blaming someone else for it. It’ll only make you look like a bigger fool than you already are.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: