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Oil money is a curse to Malaysia

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Many people with the right brain already knew in many years ago that oil money is supporting Malaysia from sinking.

Malaysia total debts are RM 336 billions.(I found this figure from the Bank Negara’s website.)

China, Taiwan, Hong Kong and Singapore are oil importing countries, still they can keep their accounts in black.

I do not want to be racist, but I have to stress that Chinaman does not spend money like no tomorrow as our UMNO-led Malay government.

As an Indonesian minister said it right, “God is blessing Indonesia (and also Malaysia) with a plenty of natural resources, but her people themselves destroy the resources.” This is a self-destruction, Malaysians blame no one but themselves for wasting and draining out oil money.

A blessing become a curse

Tengku Razaleigh (Source)

*In a speech I made in January this year I spoke of where we stand in our developmental path and what I felt we must do to move forward.

Revisiting the middle income trap

I would like to revisit the argument of that speech to develop it further.

We are stagnating. The signs of a low growth economy are all […]