Media statement by Dr Chen Man Hin, Life
Advisor DAP in Seremban on 24th May 2012
WORLD BANK WARNS NAJIB TO IMPLEMENT STRUCTURAL
ECONOMIC REFORMS OR THERE WILL BE NO HIGH INCOME ECONOMY FOR MALAYSIA AND MANY
MALAYSIANS WILL REMAIN POOR.
the World Bank in its bi-annual report on East Asia
and 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, Hongkong, S Korea and Taiwan. A free market policy propelled
the growth of the economies of these four
ASIAN TIGERS, each of which has 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$9500, 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.
Dr Chen Man Hin
Dap life advisor
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