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This is not a profound research effort on the economy. It is the contrary. Every ordinary citizen should be able to understand because all the facts and symptoms are clear and plain to see.
The Malaysian economic is inherently and structurally dangerous and this is triggering frantic calls for the NEP to be retained as well as equally urgent calls for it to be abolished. After 50 years of UMNO/BN rule, the economy is shaped like a spinning top which is running out of energy or an enormous water tank with shaky supports – choose your favourite imagery. In its essence, it is like many South American economies and is giving rise to many of the same dangerous social ills. The Malaysian economy is top heavy and weak at the base. This makes it dangerously unstable and gives rise to social ills that may finally topple it unless something is done to correct this. Among some of its inherent structural deficiencies are: Top heavy characteristics. Heavy reliance on big foreign investment. Heavy reliance on big corporations such as Petronas. Heavy reliance on a few big movers and wheeler dealers to shore up the economy. Fawning on rich foreigners and foreign capital. (IDR, etc.) Weak base characteristics. Weak local home grown industry. Weak home grown creativity and enterprise. Weak small and medium scale industries. Racial tensions scatter, disunites and dissipates the people Racial hiring and promotion policies both in govt. and small companies. Racially targeted govt. economic policies make the situation worse. There are too many obstacles to concentrating local capital for investment. This situation where the few have gained dominant control of the economy at the expense of the many creates an almost unbreakable vicious cycle where the top heavy segment grows bigger and bigger while the base shrinks more and more. The Malaysian people are turning into servants for foreign and big capital. The Malaysian people have their creativity and dynamism perverted but not destroyed. How do the Malaysian people express their creativity? It is more and more turning towards destructive channels – anti-social behaviour, crime, corruption, loose morals, despair and self-hate. Those who try to be positive, pour their energy into education but see their prospects only by immigrating to foreign countries or to be skilled workers and servants of foreign and big capital or govt. thus getting absorbed by the same vicious cycle. Some of the symptoms manifest by our dangerously imbalanced economic structure are: Vulgar and obscene lifestyle and spending by the rich and powerful. Even the middle class can afford maids and servants. While there is long term chronic unemployment Immigrant labour is imported by the millions as cheap labour While our graduates have no work or forced to sell hamburgers for a living Serious crimes such as rape, kidnappings and murder mirror S. America While the police seem to have links to gangsters, prostitution and gambling rings There is self-hate and fawning on and sucking up to foreigners While our own citizens are treated as 3rd class passengers There is lack of patriotism and love of country While loose morals and anti-social behaviour grip our young All major religions are hijacked by foreign trends and ideas While local cults spring up by the dozen The NEP is meant to correct the imbalance in society But has given rise to a class of swindlers and money-grabbing crooks This has triggered calls to abolish the NEP, but equally, because of the weakness in the economic base, it has also retained a desperate demand to keep the NEP. The NEP is not the major problem. We quarrel over peanuts and sweets. The biggest problem we have is the great structural weakness in our economy. We have to find ways and means to break the vicious cycle and develop a stronger base for our economy without toppling over the whole structure. We do not need any more social engineers, we need competent economic engineers desperately. By batsman
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