Media Statement by Dr Chen Man Hin, DAP Life Advisor in Seremban on 14th November 2009

To achieve high income status for the people of malaysia requeires a revolutionary policy and full support from the people.

PM Najib stated that his intention was to raise the present per capita income of US$7,000 to US$17,000 by the year 2020, assuming that the GDP increases on an average of 9% a year.

Later he revised his targets after realising that the targets were unrealistic. His new estimates were a 6% GDP growth annually and achieve per capita income US$13,000 in 2020.

What are the prospects of achieving a pci of US$13,000 by 2020? Dim.

Historically, it would be near impossible. In 1957 at independence, Malaysia enjoyed a pci of about US$500, the second highest in Asia after Japan. In 2008, Malaysia pci was US$7,000. It took 51 years to reach US$7,000. Year 2020 is 11 short years away to reach US$13,000, when it took 51 years to reach US$7,000.
Read the rest of this entry »