World Bank warns there will be no high income economy for Malaysia without implementing structural reforms

By Dr Chen Man Hin, DAP life advisor

The World Bank in its bi-annual report on East Asia and the the Pacific said that in view of the slow down in the economy in the years ahead, due to a massive world debit problem, the GDP of Malaysia would slow down to 4.6% this year and 5.1% in 2013.

He advised that Najib should stop fiddling with the economy with his multiple reforms which have not brought encouraging progress. He advised Najib strongly to implement structural reforms to bring about a strong recovery in the economy.

Structural reforms means that the New Economic Policy must be stopped and in its place, implement free market policies like those in Singapore, Hong Kong, S. Korea and Taiwan. A free market policy propelled the growth of the economies of these four ASIAN TIGERS, each of which have a per capita income of over US $20,000.

For Malaysia to have a high economy, the GDP must grow by at least 6% a year, which would make Malaysia a high economy nation by 2020.

Two months ago, Najib gave a glowing report and boasted that Malaysia had a per capita income of US$9,500, and would attain high economy status by year 2020. These predictions of Najib have been brushed aside by the World Bank.

Many a time before, the World Bank had repeatedly warned Najib to change and scrap the NEP in order to quicken and strengthen the Malaysian economy.

If Najib wants to improve the livelihood of the people, he should tarry no longer, but should immediately accept the advice of the World Bank.

For the sake of Malaysia and for the poor households living in towns and kampongs, Najib must listen this time.

  1. #1 by Dap man on Thursday, 24 May 2012 - 4:13 pm

    “For the sake of Malaysia and for the poor households living in towns and kampongs, Najib must listen this time.” Dr Chen

    Will Najib ever listen to us for Malaysia’s sake???

    He is fighting for dear political life? He is having sleepless nights if he will end up behind bars?

    It’s all about personal survival and preservation. The economy, the people and the country can go to hell for all that he cares.
    He will do whatever in his power to use all foul means to win the GE.
    Najib is a sitting duck.

  2. #2 by Godfather on Thursday, 24 May 2012 - 4:15 pm

    What high income economy is the World Bank talking about ? If you want proof that Bolehland has now achieved high income status, look no further than two very recent examples: (a) the head of the petty traders association IKHLAS owns a Ferrari and (b) the million-something march yesterday was flagged off by a Lamborghini and several Ferraris.

    Now, pray tell, where in the world can you find a petty trader driving around in a Ferrari ?

  3. #3 by dcasey on Thursday, 24 May 2012 - 6:11 pm

    Asking ah cheat kor to scrap the NEP is like asking him to scrap Perkosa and Dumno. To do that will mean his head first on the platter and his a$$ on the door of the HQ.

  4. #4 by Bigjoe on Thursday, 24 May 2012 - 8:19 pm

    These observation are highly simply linear extrapolation wheras the world is dynamics. The truth is the promise of Najib is the same as the sick side of Europe at best – the profligate ones that borrow and spend. It can have moderately higher income but it comes with higher cost for most of us. Income gap between the top and bottom will likely worsen will the middle income have more income with more cost.

    Eventually it will end and then we still confronted with the cost of paying for ‘transformation’..

  5. #5 by dagen wanna "ABU" on Thursday, 24 May 2012 - 11:35 pm

    Dearworld bank,
    Do you hv angkasawan? I ask because i want you to know that umno has angkasawan. And that must therefore mean that umno knows better. Anyway, umno also has cintanegara. He has prinsip2ekonomi pokok rambutan. In other words unmo does not need your advice. Umno is the best in the world.

  6. #6 by yhsiew on Friday, 25 May 2012 - 7:53 am

    Najib only listens to Perkasa but not the reputed World Bank.

  7. #7 by waterfrontcoolie on Friday, 25 May 2012 - 11:55 pm

    BN won’t be bothered by the WB, they themselves as well as their cronies have already achieved incomes of over us$20 million per head. They are not bothered for the rest of the nation!

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