I have quoted extensively because the brain drain in the past four decades of over a million talented, creative and enterprising people — although there are those who would say it is double this figure — must be regarded as a national disaster and not just a personal or family tragedy.

The world has moved into the knowledge economy where the foundation of a nation’s power are more likely to rest on brains rather than brawn, on the creativity, energy and talent of its people rather than on the size of its population and the extent of its territory.

I submit that it is the brain drain of Malaysia’s precious human capital in the past four decades which had been the principal reason why the nation had failed to achieve the full potential of our excellent economic advantages and rich resource endowments at Independence.

Malaysia achieved independence in 1957 at the same time as Ghana, when both countries were almost on par economically. Both countries are celebrating their golden jubilee of national independence this year, but Ghana is a failure in economic development, with its per capita income only about one-tenth that of Malaysia.

Should Malaysia feel proud that we are now ten times better off than Ghana, as had been suggested by a Barisan Nasional MP in the last parliamentary meeting?

This depends on whether we want to compare with the best or with the worst. There is no point in talking about”excellence, glory and distinction” if we are only proud to be compared with failed states and not prepared to compete with our equals.

Malaysia was No. 2 in Asia after Japan in terms of prosperity and income when it achieved independence in 1957, despite having a per capita income of only US$200 per year. However, South Korea, Taiwan, Hong Kong and Singapore have caught up with us and gone ahead.

Although during independence Malaysia led the other Asian nations, apart from Japan, in per capita GNP, it had started trailing behind Hong Kong and Singapore in the first decade of nationhood. This trailing behind multiplied many-fold after the launching of the New Economic Policy in 1970.

Although Malaysia’s per capita GNP had started to trail behind Hong Kong and Singapore in the first decade after independence, we were still ahead of South Korea and Taiwan. Malaysia’s per capita GNP in 1967 stood at US$290 as compared to Taiwan’s US$250 and South Korea’s US$160.

In 1967, Singapore’s per capita GNP was US$600 while Hong Kong US$620.

In 38 years from 1967, Singapore and and Hong Kong have shot to register a 2005 per capita income of US$26,836 and US$25,493 respectively, South Korea to US$16,308 and Taiwan US$15,203, as compared to Malaysia’s US$5,042.

In the past four decades, South Korea’s per capita income multiplied about a hundred-fold, Taiwan by some 60-fold, Singapore by 45-fold, Hong Kong by some 40-fold with Malaysia lagging with an increase of only some 17 fold.

The brain drain of over a million talented, creative and enterprising Malaysians in the past four decades must bear primary responsibility for Malaysia trailing so behind Singapore, Hong Kong, Taiwan and South Korea.

I am not interested in any finger-pointing exercise. Let us own up to our mistakes and have the courage to correct them in the best interests of the nation and future generations.

[Speech (5) on Royal Address debate in Parliament 21.3.07]