For Malaysia to make it happen
We can make it happen, happen again
We can make it, we can make it again
We can turn the clock back, baby, and then
We can make it, we can make it again
we will have to put it all together in this upcoming Budget. It's a hurricane of a task, and my fear is that we might just be lacking the smarts to win this one.
Let's not look at Tengku Zafrul and Azmin Ali yet, instead I will start with Pakatan Harapan's proposal. It's too text book, politically correct, with nothing much Micro. READ : PH's text book politically correct budget proposal
Just following Keynes model will not do, there need to be much more than that.
This is where, I believe Tengku Zafrul being too bookish, will miss the opportunity of a life time. Zafrul has thumped his chest before READ : S&P ratings show that we are doing well, says Tengku Zafrul.
I hope he has wised up after READ : IMF chief Kristalina Georgieva may have cooked'China's books when she was at World Bank.
As for Azmin Ali, I am sorry to say, I would rather have Zafrul on my team, who is atleast trying than Azmin Ali.
Azmin Ali is not schooled on how a MITI should perform during a time of extraordinary circumstances. READ : How Japan Realized Her Impossible Dream
It's not a bout just bringing in investors. There is more to that . When Japan was rebuilt, its MITI gave out cheap loans to SMEs. Profitability was not the key at that point.
Has MITI have such a plan for to finance literally 75 per cent of Malaysia's SME with cheap loans. I doubt it.
What we need is a new deal mixed with a Marshall Plan.
The Marshall Plan part would involve giving the Chinese a freehand to run the economy, with the Government subsidizing the salary of the ideginious population, plus provide money for the workforce to upgrade themselves in English and technology.
The government should abolish approved permits for automotive as well as put a stop to rule 78 of the hire purchase agreement. READ :Unfair Practice Rule of 78 for early settlement of loans