It has become my concern when our dear blogger, Mr Wenger J Khairy keep on harping issues on Per Capita, trying to show Malaysia is well below some countries such as Bostwana and Gabon. The argument can be read here, entitled “22 years of bullshit”. He argued that even though the said countries are without mega projects, their per capita are better than ours. Just a note though, this argument is similarly what happened during debate between DSAI and Dato Ahmad Shabery Chik way back months ago, whereby Shabery gave us comparison of oil between Malaysia and some African countries. Well, I’m analyzing by way of his argument. So, to Gabonese and Batswana, I’m sorry.
Well, since he obtained it from IMF (ODS Note: at first I put as “(as he claimed)”, but thinking of which, I did realize it give a negative impact on impressions in regards of his source of info, I remove the (“as he claimed”) and apologized to him) , I’ve asked him to provide such info on other areas, which I believe, “per capita” alone does not indicate the absoluteness of strength of a country. Economic strength of a country also can be determined by other factors, be it financial and non-financial factor. This includes poverty rate, inflation rate, unemployment rate, etc. As a full time speculator, he should know this. I have asked him to provide, yet, he can’t. So, since I’m not a beggar, I’ll do it on my own.
Kindly note that this article is nothing to do with the “war” between him and Doc Sid and Mr Singh. This issue is more towards satisfying me in search of truth on Malaysia’s economic strength from a normal Malaysian based on searches from reliable source – World Bank, United Nation and CIA (CIA? Wow!). Since WJK is using IMF, I believe, WB, UN and CIA also provides credible info. (ODS Note : CIA on the general issues, not the anti-terrorist issues or any security issues)
In regards with data obtained from World Bank, readers can obtain the info for each country at World Bank’s website here. The info covers year 2000, 2005, 2006 and 2007. For such, although data for 2003 (in year which TDM resigns) is not available, I assume the info would not fluctuate too much, or else it would be significant in yesteryears media reporting and we would had suffered badly.
From the info available, I see that our inflation rate is way lower than those two countries as taken by example by WJK. Why I take inflation rate as one of important facts to look at. It is due to the fact that inflation is a rise in the general level of prices of goods and services in an economy over a period of time. In year 2000, the inflation rate was 4.8% while Bostwana – 12.0% and Gabon – 28.1%. Interesting indeed. According to theodora , in 2003, we were still lower than them. If these analysis to be taken into account, somehow, I beg to differ.
Now, let us look unemployment rate according to United Nations, Bostwana shows a remarkable 24% of unemployment rate (as at 2003!). As for Gabon, the latest data was in 1993, for 18% with a footnote indicating the info was for age 10 years old and above. Malaysia? 4% of unemployment rate as reported in 2004. To those who have query on why I relate unemployment rate to economics strength, Valentino Piana describes as “Economic losses from unemployment are large, since they relate to all goods and services that could be produced by the unemployed, to income losses for the unemployed household, to consumption and employment losses caused by reduced demand of the latter, to a wide range of social pathologies and health diseases”. So, in other words, it is also a determining factor. Again, I beg to differ.
I wish I can continue to make some more comparisons, but I feel it would show how bad the conclusion has been made by WJK. He accused TDM as bullshitting us, whereby TDM has done his best for the nation. He is not perfect, but at least he has done a good job.
Considering the countries taken by example in WJK’s argument, please find the background of the countries mentioned here and here. He has taken not quite good examples as comparison to Malaysia. Socially, Bostwana has the second highest rate in the world for AIDS and Gabon – In 1997, an IMF mission to Gabon criticized the government for overspending on off-budget items, overborrowing from the central bank, and slipping on its schedule for privatization and administrative reform. With all due respect, do you want Malaysia to improve in Per Capita and having these? I will certainly not.
In regards with foreign exchange issue mentioned by WJK, I wonder how did he held TDM as responsible for devaluation of RM. It is not his fault. In late 90’s crisis, not only RM was badly affected, but also most of this region’s currency. A speculator should know this. We have had a tough time to survive, but by Malaysian government decision to peg at RM3.80 per USD1, it saved lots of business.
In regards to privatisation, it is an idea, and should one to follow or not, it’s up to the person in charge. Any idea in this world can be considered as two edge knife, which, in the event of wrong implementation (be it time, condition, situation and technique), it can bring harm.
I know, this whole argument or “war” is due to campaign for DM and KJ. Both have their own credibilty and ability, but please, be in a healthy campaign, not accusing others and the people around the subject. This is more like “menang jadi arang, kalah jadi abu”. Most politicians in this country talks about Obama, but does anyone emulate it in positive way? Have anyone do it in way forward?
If we were 22 years in bull, at least I can say that we were not in this situation whereby not just BN in weak state, also PR in ‘rojak’ state during TDM tenureship. BN have never been in much worse condition whereby it can be attacked inside out. With latest KJ’s remark on hudud, I believe, we are going to have interesting few weeks ahead. Serious!
Words on the street – We are in political harewire?