Malaysia - Riding The Storm of Financial Crisis
In 1998, I witnessed the classic "Mahanomics" in action that saved our country from being like Thailand and Indonesia. I need not convince you on this. You can either read up yourself or check the statistics in EPU.
Beginning from 2008, we witness the great effects of the credit crisis in US that spread through many major developed countries that are heavily dependent on financial sectors.
Even my lecturer in ANU, a very top expert who has worked as an advisor for World Bank to countries like Sudan and other developing countries, commented that he is not sure if we might even be facing a repeat of The Great Depression of the 1930s.
For him to have such thoughts, it is really something to be concerned. And we have Datuk Seri Najib Tun Razak holding the finance portfolio now.
I dont know if he can help Malaysia's economy but I am sure Tun Dr Mahathir can as proven in the 1998 Asian Financial Crisis. Malaysia does not need to pay IMF any money at all and we are not debt burdened.
I got a feeling Tengku Razaleigh might be able to govern our country well, given that he once held the Finance portfolio before he left to fight Tun in UMNO and later founded Semangat 46 and rejoining UMNO soon after.
Only Tengku Razaleigh came close to unseating Dr Mahathir in UMNO and from the PM-ship of Malaysia. UMNO members must be clear.
If I am in UMNO, my vote goes for Tengku Razaleigh and Tan Sri Muhyiddin where I have said in the past that Ku Li should be President of UMNO and BN and work on party matters.
The party of UMNO and BN needs to convince the people that they are still strong, united and very relevant. The Premier-ship should instead be recommended to the Yang Di Pertuan Agong to be filled by Tan Sri Muhyiddin Yassin.
We shall wait and see. It is getting interesting as we approach the year end when MCA and UMNO elections will be held. Two largest parties of Malaysia, and the strongest allies of Barisan Nasional.