By Dr Chen Man Hin, DAP life advisor
Can PM transform Malaysia to become a high income nation in 2016. When he cannot improve the economy to join the Asia tigers club of Singapore, Hong Kong, S. Korea and Taipei?
When became PM in 2009, Najib announced his proposals to transform the economy with his Economic Transformation Program (ETP) by injection of tens of billion ringgits promised largely by government related companies. His predecessor Tun Mahathir also injected billions but the economy scarcely moved and the FDIs did not come in.
But money is not the primary mover of the economy. More importantly it is manpower.
Since 1970, the NEP has been a negative factor to drive the economy. With the NEP the GDP of Malaysia began to fall far behind those of Singapore, Hong Kong, S. Korea and Taiwan. Even now, the NEP has been a major factor in chasing away hundreds of thousands of our skilled manpower overseas, and this has affected the economy. While the four tigers leaped ahead to high income economies, while Malaysia stagnated.
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