by Dr. Chen Man Hin
The world has evolved and Malaysia is now gripped by globalisation together with other countries. This is the reality
We see that the countries which are successful are the developed countries who have adopted policies which promote progress and development.
There are certain markers which define a developed country.
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Firstly all of them practise democracy, social justice, rule of law, no racial bias, and an education based on knowledge, science and high technology.
Their economy is a K-Economy, which is open with free trade and is highly competitive.
Singapore is an example of country which has adapted to the demands of a global world. It has high standards for all the markers of a globalised country
These are the statistics of global markers for Singapore and Malaysia:
Singapore scored high marks in all the markers of a K-Economy, which means that it has evolved and adapted to a globalised world. It scored high in economic freedom and competitiveness, and its GDP/per capita of US$ 26,836 is in the same bracket as US, Japan and Switzerland.
Unfortunately, Malaysia has not done so well, and this is reflected by a lowly GDP/capita of US$5,042
The time has come for Malaysia’s leaders to think hard and analyse its dilemma, and raise up its standards on corruption index, economic freedom and competitiveness.
The choice is between opting for a K economy and drop the NEP economy, which is now archaic and not accepted internationally.
Foreign direct investments have reduced tremendously because of the NEP factor. Lowly Vietnam has caught up and surpassed in fdi. America is not keen to sign an FTA with Malaysia because of NEP.
A K-ECONOMY IS THE LOGICAL CHOICE IN ORDER TO ACHIEVE UNITY, PROGRESS AND PROSPERITY FOR MALAYSIA.