Since Gordon Gekko took over the wall streets in 80s much has change there. The introduction of electronic trading platform has ended all that. That is the price that you have to pay for technology. Correct me if I’m wrong it seems that our world had become smaller. In case of Malaysia well since 20 years ago the country had advance tremendously. Economy has been in the right track to become an advance country. Question? Why do we really pushing our self to become advance but at the same time the people are not ready for it? Should we let the people adjust to it first? We are talking about people in that the one managing the economy and not the other way around. Do we have all the skills people that can manage the economy?
As an ex-banker I found out that due to rapid growth in the industry, there is in not enough professional in the industry that have all the capabilities needed. We end up taking outsiders that have all the necessary skills and pay them tons of cash. Our own professional left behind and watching their own management admiring them. Is there a really a transfers of skills and technology? In your dreams, that is my answer to it. You can see what happen to Proton. They are being pushing around by the big boys in the industry. Until now we can’t find a suitable partner. Why? Are our car industry are not attractive enough for them? The technology that we have does not have any economic value to the market.
The subprime problem may weaken the economic momentum in all over the world but that is not the reason for us not to work harder. In the latest projection by the government indicate that our economy will slow down next year (2009). There is a lot of different between slowing down and negative growth. 3.5% is not a small number when most of the countries in the world currently heading to a negative territory.
The dependency to the US dollars by countries that engaging in international trade also will also be hit by the declining of the value in it. Correct me if I’m wrong, there had been a proposal for countries in the Asian region to used other currencies in doing their business or batter still we create a single currency for this region like what the European region is doing right now. Practically the US dollars do not have any real values if you ask me. The country that has a huge current account deficit and trade deficit and from what I heard it is as deep as Grand Canyon.
Political stability which in the past is our strongest point compare to other country in the region has gone down the drain. I’m not saying that our political scenario is as bad as Thailand but we are moving towards there as the people were in the process to exercise democracy to the highest level. They are changing their PM within months and this will not reflect a good polotical stability.
Will this be good for the country? Don’t you think that we should practice the democracy but take it one step at a time. Slow and steady. Obama may be the first black president in the United Stated but just look at how long does it takes for them to accept him.
Politician young and old should focusing on the problem that facing the people and from what I see more have to be done. Reducing the patrol price again does not reduced the food prices as retailer will continue giving more and more other kinds of excuses not to reduce their prices. This is an open economy and whoever that are willing to pay more shall get the goods and services.
The government plays an important role in managing the economy and controlling all the necessity goods for the public. We should be thankful that the current government are always there to protect the interest of the public. Lets just hope that there is a light at the end of the tunnel for all of us.