By Dr Chen Man Hin, DAP life advisor
There is not much to celebrate after 54 years of independence, as Malaysia is still caught in a middle income trap, where 60% of our households are living below the poverty line of RM3000 per month.
In the past few weeks, PM Najib made some moves calculated to impress the people that the economy is resurging and well on the way to full recovery.
The first plan was to announce that FDIs (foreign direct investments) inflow was spectacular. He admitted that the FDI dropped to a low of US$1.5 billion in 2009 but in 2010 it had rebounded by over 500 per cent to US$9 billion. It looks impressive, but the increase was large only because it rebounded from a very low baseline.
However, the US$9 billion was minuscule compared to a FDI of US$38 billion in 2010 for Singapore, US$15 billion for Indonesia and US$105 billion for China.
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