Oct 30, 2009

Malaysia - Snail of Asean

Guess who is one of the more sluggish economic growth of the Asean countries for the year 2010? Well... yes, Malaysia is one of the slowest growing economies in Asean, falling behind countries like Vietnam, Cambodia, Loas and Myanmar.

The slowest growth as forecast for 2010 is Brunei at only 0.6% growth and next is Malaysia at 2 to 3 percent growth as recently announced in the Budget 2010 and they can't even get to the decimal point and looks like a guesstimate. And for the purpose of charting as above it is listed at 2.5% economic growth for next year, (taking the middle ground from the government projection of 2% to 3%).

But Malaysia can not be compared to Brunei as Brunei is a one of most wealthy country and the highest ranking in terms of per capita income of USD 36,681.00 (as at 2009 IMF forecast) where Malaysia has a meager USD 7,469.00 annual per capita income in Asean.

And as it was in the 70s and early 80s when we were one of the leading economically progressive countries and were up in front of countries like Singapore, Brunei, South Korea and even Taiwan but today....Sigh.

We are now way behind in the economic race of nations and almost last in Asean, ok lah... second last.

And credit must go to UMNO for continuing to screw up the political and economic landscape, scaring off both local and foreign investors with their domination of all the democratic institutions, making a mockery of our judicial system, creating fear and suppressing the growth of democracy and civil society. They control and dictate almost all business sectors and industries in the countries with their Cronies, GLCs (Government Link Companies) and Sovereign Funds taking it all away from the public and private sector. And their massive corruption growing like cancer eating away the wealth of the rakyat (people).

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