Home TA Online 2016 TA Online Malaysia on the brink: Can it survive and revive its economy?

Malaysia on the brink: Can it survive and revive its economy?

Lim Kit Siang next to Dr Mahathir Mohamad - Photograph: Malay Mail Online

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Malaysia desperately needs competent political and economic leaders with integrity to run the country, observes David Yeoh.

The recently concluded DAP party national conference in Shah Alam saw two political strongmen, opposition veteran Lim Kit Siang and former Prime Minister Dr Mahathir Mohamad, sitting side-by-side at the same table.

It was the first time in history that the former premier attended a DAP national convention and shared the same stage.

The newly formed alliance of the DAP, the PKR and Amanah under the flagship of Pakatan Harapan has not entered into a pact with Parti Pribumi Bersatu Malaysia – though there are some mixed feelings among the Pakatan rank and file.

Nevertheless, to save the nation from being destroyed further, the former premier appears willing to work together with Pakatan Harapan and even change the perception of the DAP: that it is not just a mostly Chinese Malaysian party but its members come from all ethnic backgrounds.

It is indeed true that there are no permanent friends or enemies in politics but there must be certain permanent principles that must be upheld within Pakatan Harapan. All must come together and work together to save the nation from economic turmoil besides bringing hope to the rakyat and improving their welfare and rights.

The lack of an efficient and trusted national leadership is primarily to blame for the current dismal state of the nation. Political disruptions and economic shocks have rocked the nation, which runs the risk of being downgraded by rating agencies.

A sharp downturn in oil prices has disrupted the government’s plans and remains a public concern. The weak global economy and the threat of a rate hike in the United States have added to concerns, all of which have prompted capital outflows. Given these circumstances, it is hardly a surprise that the ringgit has dived against the US dollar.

READ MORE:  Politik dan ekonomi rakyat

Economic turmoil in turn has led to political turmoil within the ruling party. The result: domestic and foreign investors’ perceptions of the national leadership, quite naturally, have been shaken. Confidence has tumbled, and this has not helped the ringgit.

Nothing seems to be going right for our nation, and the outlook for the global economy is not bright either. Something must be done quickly to save the country from swinging into a downward spiral. The fight against corruption and lack of transparency has to begin with intensity.

But this can only be done with a change to a new leadership that is competent and capable of reviving the economy condition. Quite simply, Malaysia needs competent political and economic leaders with integrity to run the country.

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