“In 2009, Indonesia overtook Malaysia on an income per capital basis. In 1968, Malaysia’s income per capital was double that of Singapore. Today, Singapore’s is four times higher,” iCapital said.
In terms of Malaysia’s budget deficit trend, its assessment is that the country appears to be following in Greece’s footsteps.
Indonesia has in fact lowered the government debt, even with the eruption of the global financial crisis. As of 2010, Indonesia’s targeted budget deficit is 2.2% of GDP.
The Malaysian Government has committed to reduce its deficit to 5.3% of GDP this year. It aims to reduce this figure to under 3% by 2015.
Read more at Wake Up Call
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Reading this article has lifted my eye-brow, what have gone wrong ?
1. The investors are shying away from the country;
2. The economic growth has been stagnant for quite a while;
3. The stock market index barely reached 2,500 points;
4. The education level of the workforce at minimum level, SPM ;
5. Stucked in the middle-income group for a very long time;
What have gone wrong ? asked myself ? How could we do it better ?
Below are few of my random thoughts about why we are no longer the darling of investors as compared to our neighbours. Why even in weather forecast report for all cities all over the world, in most of news channels CNN, BBC, DW, France24 alike, "Kuala Lumpur" is not even mentioned ?
1. Start accepting the facts
This is the real challenge, we Malaysians simply too "arrogant" to accept the facts. Like it or not, we are in the state of denials. We always point fingers to others. We told the people that the reports are inaccurate and bias, they are jealous of Malaysia's progress, they are assessing only on certain aspects and bla bla. We denies those facts and figures, if the latter are not in our favour. My view has always been, be more listeners and accept the facts, that we could have done it better. What areas we are lagging and what are the lessons learned ? What are nexts ? We, Malaysians shall start asking ourselves, what Toyota describes as " Five (5) WHY s ". But first, learned to starte accepting the facts !
2. No Actions Talk Only [NATO]
Look around us ! We are becoming NATO society . Datuk Seri Idris Jala was blasted when he made a statement that Malaysia could become another Greece, if the trends continues. Look at the report, and Datuk Seri Idris Jala was indeed correct to point it out. He was chided and blasted from all corners ! If I were them, I shall take what Datuk mentioned as precaution and warning, and shall work hard and find ways for it not to happen. I still remember, when Datuk Seri headed Malaysia Airlines. He was tasked to transform the airlines, and what he received at the very beginning was a "very emotional and irrational" remarks from the chosen few. Unfortunately.Less talk and more actions and result, please.
3. History repeats itself
Yes, it was then RM 1= SGD 1. I remembered very well, I can even but a "chickidies" with SGD coins at "Kedai Runcit" in remote village in Tanjung Karang. Yes, gone those days, but one thing for sure, we can repeat the history. What were the causes and factors those glory days, that can't be repeated ? My view, those days leaders worked for the nation and the country. The made lots of sacrifices , both professionally and personally when the most satisfying moment was to see the country and the people make progress everyday.
4. Mindset change and behaviour
This is the most critical factors, that all quarters people at all levels from CEO of the Fortune 500 companies to a cleaners, gardeners, school children shall have the right mindset and behaviour of a great nation. Sounds to vague and so big, when it is not actually and doable. This can be achieved through education system that nuture the young minds to have the right mindsets and behaviour. The parents shall play the roles too, when their kids are still young. Emphasise on the need to have good educations, and eventually be good citizens of the nation.
5. Learn from others
Learn how countries in the USA and Europe , even Singapore become great nations and we shall look back at Turkey, when it was a great nation and super power before ? In Europe, healthy competitions among the countries help the continent to prosper. How London became the largest financial hub in Europe ? How German become a country well known for its engineering ? How Paris become the most visited city in the world ? How Netherland position itself who have great ports management ? How those countries, despite competing each other become so good ? I could see the trends in our part of the world, when Singapore [ Financial Hub], Indonesia [ largest domestic economy], Thailand [ Tourism] and Vietnam [ Industry ] and Malaysia ? [ mix of bit here and there ]. We have our glory days, and Malaysia shall position and brand herself to compete with the rest of our neighbours. May be we shall be the "Great Modern Ottoman Empire"
We shall emulate the best practices and yet, we move forward our ways and our mould. Malaysia is a great country, and we shall leverage on our diversity to match the tagline, Malaysia Truly Asia. We shall work harder to put Malaysia on the map again [ at least during the weather forecast, for a start] . I read in the news few measures and initiatives by the government to bring Malaysia to the next level, and unfortunately I could sense some laggings in the implementation stage. Let us people from all quarters, including the opposition to work together to bring Malaysia and make a frog leap, to stand in the eyes of the world.
As for my contribution, as individual ?? I am learning from the best, and I shall return back to Malaysia to share my knowledge and experiences with the future generations of Malaysians, to make Malaysians individuals, with the right mindset and behaviour with the right capability and capacity. At least, that is my plan.
DISCLAIMER: Notice :Opinions, stories , thoughts expressed are blogger's own and do not necessarily represent the views of the institution or the organizations by which the blogger is employed or any specific person who so ever, either dead or alive.
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