Economist: UMNO-led Malaysia slipping down the competitive league
The venerable Economist sheds some light on Malaysia's struggle to regain some economic clout as it falls down the ranks of competitiveness.
It points out something that many of us Malaysians already know - that chauvinists and rabble-rousing back-benchers in UMNO's ranks and their vociferous complaints against reforming government-linked companies (like the close-to-death Proton), are turning away both domestic and foreign direct investment in the country.
The article also calls for a *gasp* review of the social contract to stop the races from further polarisation but says that there is a lack of momentum even here.
For as long as there is some form of economic growth, Malaysia can still get away with all these sins. But once another 1998 comes, what will happen to us?
* Pix from the Economist
technorati: Malaysia, NEP
posted by hew @ 11:15 am
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