Friday, October 17, 2008

Economic slum

In the economic crisis today we Malaysian could not help to be very skeptical about the economic situation that is effecting globally, now even there are countries the had went bankrupt. This is what happen when there is too much depend on the US dollars.
Malaysia in the other hand is saying that it can sustain the global economic crisis. For a person like me I would like to gives some opinion that can be benefit to all. It had happened before now it happen again. The games remain the same only the player change. What is happening today is the Impact of what is being neglected for years not only in Malaysia but through out the world.
The economic crisis is the result of it. To make sure Malaysia sustains or in the other word is to cushion the economic Malaysian must be able to have money in their pocket. How u may ask? There are various ways in doing that, the first is by letting the Rakyat to have more spending power to make sure that there is liquidity in the country. This will make the money flowing in the country. When money is stagnant this can make the economy stop. The prices must be lower down so that Rakyat can spend, even there is a reason to save some money but there must be portion of money to be spend so that the economy can grow. To power purchase of the Rakyat now must be maintain or increase such as by giving bonus and also the government must control the prices of goods. The government must implement the laws that is created more seriously now this is because there are so many laws that is being created but there is no enforcement.

The second is the government must revise the mega project, the government must choose the best project so that it can benefit all Malaysian. This is because if we have so many corridors we might not be able to benefit the country this is because the corridors won’t have the interest to bring up the country economy, yes they interest is to get profit but these FDI are interest on that only. Even with the MOU that the government signs with, the technologies that is being bought in the country is mostly outdated where it is called dumping. This must be stop because to make sure that the country can export more product to overseas the government must monitor these FDIs that have intention to come to the country, choose only the best and can benefit the Rakyat and the country.

Last is by control the currency by pegging it with other than US dollar where it is not stable anymore. The currency also must not being let it flow outside the country. This is being practice during the 97-98 crises. The agro based sector must be enrich more so that we can sustain future economic crisis.

This can be implemented and there are new ideas in dealing with the economic crisis that is happening now. The think tank of various ministry in the country must sit together to find a way to overcome the economic slum might cause our country dearly. This is not depending only on the ministry of finance but this affect all the ministry in various sectors. Human is not perfect so it is best that all the ministry sits together and think for the country and the Rakyat future because the Rakyat depend on them. If there is no approaches it will affect all where there will be recession and unemployment.