by M. Bakri Musa
The per-capita income of Malaysia’s Klang Valley is a mere fraction that of America’s Silicon Valley, but one would not know that from visiting their respective shopping malls.
At any time there are more (in absolute as well as relative numbers) Mercedes Benzes and other late model luxury cars in the parking lot of the Mega Mall in Klang Valley than at Stanford Shopping Center. And judging from the crowd, the purveyors of luxury goods at Mega Mall do a roaring business compared to their counterparts at the Stanford Mall.
I also see more gold Rolexes on brown wrists than on white ones. I must admit that the gold color looks good against a brown background!
Despite the residuum of the dotcom bust, as well as the current economic crisis, Silicon Valley still has one of the highest per capita incomes in America, which in turn is one of the highest per-capita income countries. Yet for the most part Americans lack the compulsion to show off their wealth.
This is not unique to Americans. The Norwegians also have a high per-capita income, and their sovereign fund is one of the largest in the world. Norway is also the Saudi Arabia of the North Sea. Unlike in Riyadh however, the most popular cars on the streets of Oslo are those fuel-stingy hybrid models instead of the gas guzzling Cadillacs that are the favorites with the Arabs. Continue reading “Needing To Show Off”