by M. Bakri Musa

The greatest legacy the leader of a nation could bequeath would be freedom from an oppressive government. This realization comes to me when I compare Malaysia’s experience during the 1997 economic crisis to America’s current struggle with its massive debt mess.

The differences in reactions and consequences are attributable to one salient factor: Unlike Malaysians, Americans do not fear and are not dependent upon their government. Americans have a healthy skepticism towards their leaders and government, an attribute generally lacking among Malaysians.

With Malaysia in 1997 there was a general crisis of confidence, with widespread gloom and doom permeating the skyscrapers in Kuala Lumpur as well as the suraus in Ulu Kelantan, and from the Prime Minister to the village penghulu. It also precipitated a deep and ugly split in the leadership that resulted in riots and ugly street demonstrations. The very symbol of our sovereignty – the ringgit – was devalued.

Like Malaysia then, America is today plagued with a mountain of debt on a scale a universe beyond what Malaysia suffered. The American dollar is also being debased, not by the government however as with Malaysia, but by the more powerful force of the marketplace.

The American tribulation is even greater, as the leadership – in particular President Bush – is viewed as ineffective and irrelevant. America is additionally burdened with an expensive and bloody war. Yet for all that, there are no riots or widespread doom and gloom. When Americans are disenchanted with their president or government, they throng the voting booths in record numbers to vote for a change. Read the rest of this entry »