Tip of the Iceberg?

WHAT THE HECK…the Malaysian Insider quoted second finance minister, “Malaysia won’t go into recession”…well, perhaps true but GDP data are mere numbers. More important is the the fact that growth rate i.e. GDP alone would not be very reflective of the people well-being and living standards. Again as being compared to Singapore, which suffered a 2% contraction, Malaysia 3-5% growth rate is somewhat too low for REAL development to occur. At such rate, it would be mere impossible to stand tall against our counterpart. Development should be relative not stand alone figure to pacify the people.
Fine, some growth is better than no growth but that would put us into self-denial zone.
Growth like living standards should be relative i.e. based on a nation current economic and social well-being. For country like China, which used to enjoy 10% or more growth per annum, the number looks pretty impressive. Yet comparable to Japan, which hardly or enjoy minimal growth, China still lack Japan in total economic performance. Therefore, comparing Malaysia with Singapore are not very reflective, I reckon. As always. And that’s only GDP, how about the rest, especially the peoples’ living standard and purchasing power? Realistically, there’s a wide catch-up game for Malaysia to play.
Open our eyes wide…our infrastructure and transportation systems are pathetic. Our exchange rate is bad. Our earnings power are sad. More? Housing and living expenses are skyrocketing..Our cars are heavily taxed. And despite being a NET oil exporter, we suffer from unreasonable petrol price hikes and “delayed” price revisions.
More absurd is the fact the states are buying new IMPORTED cars when the government advises the people to spend prudently and buy locals. WHAT THE HECK?
We’re hardly hit by the world economic crisis because we have high marginal propensity to save and our banks are ultra conservative (a good thing though at time like this)……And how’s the RM7bil package going? Well, gods know…but gauging from report cards and local news, no so bright eh?


About jensonlim

A young, learning adult with deep thoughts on life and interests on provocative and unusual stuffs.

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