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On his return to Putrajaya, Dr. Mahathir Mohamad wasted no time in reminding Singapore of the reason he was happy to see him leave in 2003, according to an article in Nikkei Asian Review [19659002]. As Prime Minister, Mahathir is challenging a high-speed rail link between Kuala Lumpur and Singapore.
"He threatens to charge the city-state more for water.He calls for the renegotiation of the Trans-Pacific Partnership, a regional trade pact that includes Singapore," wrote William Pesek, an award-winning journalist from Tokyo.
However, Pesek said that there might be a glimmer of hope for Singapore with regard to Mahathir made a comeback because the state government led by Prime Minister Lee Hsien Loong needs a shake.
He pointed out that World Bank data now showed that Malaysia was on track to return home. ] "Of course, such comparisons can be superficial …
" But two warnings add drama to the competition between Malaysia and Singapore. In 2015, Singapore, with a population of 5.6 million, was looking forward to surpassing Malaysia, with 32 million residents.
"He was filled with national pride, about the time Lee Kuan Yew died. Malaysia does not win as long as Singapore is stalled in terms of development, "he added.
According to World Bank figures, Malaysian production reached $ 314.5 billion in 2017, or 9, $ 4 billion RM28.012) under the $ 323.9 billion (RM 965.22) from Singapore and the gap is expected to further narrow, Malaysia's projected growth of 5.5% exceeding 3, 1% projected in Singapore
"Malaysia is definitely not an economic model. BN's Najib Coalition Signifies Great Progress
"It is heartening that Mahathir's Pakatan Harapan coalition is bringing Najib to justice at the speed of lightning, and it's certainly great that Mahathir is acting transparently.
"The questionable economic data of the Najib government blushed Beijing statisticians. The administration of Mahathir sheds light on the actual state of Malaysia's finances, regardless of the consequences on the financial markets, "he added
Mahathir must reinvent a system that 39 he helped to create
On the same note "Although GDP growth seemed decent, the fruits went to ethnic Malays benefiting from positive policies of action dating back to 1971, a decade before Mahathir's first term as leader.
"Policies against Chinese and Indian minorities have hindered innovation and productivity. They fueled corruption and allowed small Singapore to easily outperform Malaysia in terms of GDP. "Mahathir's successors, Abdullah Ahmad Badawi and Najib, have both pledged to end the economic apartheid that has shut down foreign investors, leaving 93-year-old Mahathir in the daunting task of reinventing a new system. that he helped to create, "he adds.
Pesek argues that Malaysia could be the catalyst that Singapore needed at a crucial time and the return of Mahathir "
" Malaysia must make great efforts to increase its own game. But its goal to reorganize the The economy could generate a healthy rivalry, not only for the Lee government, but for several others throughout the region.
"Mahathir's message in his second term as Prime Minister to Rodrigo Duterte of the Philippines, Prayut Chan-o-cha of Thailand and other leaders who attack democratic standards, is the most important thing in the world. Be wary of the anger of your people.The signal to Indonesian Joko Widodo is that nothing good comes from the tolerance of economic nationalism. "For the Vietnamese Nguyen Xuan Phuc, it is the danger of tightening the rope around the media. For Hun Sen, Cambodia, it is futile to decimate the opposition forces. And at Lee in Singapore, these are the costs of complacency in what is essentially a one-party state.
Although Singapore's economic performance remained impressive, Pesek claimed that he was suffering from the mid-life economic crisis, and even with zero natural resources, his per capita income is $ 58,000 (RM162,400). ) for Malaysia of about $ 10,000 (RM 29,800) .and Malaysia has enviable reserves of oil, natural gas, palm oil, timber and other deposits such as the water reserves it sells to Lee's nation
wages are stagnating, inequality is rising and the population is aging rapidly, while at the same time China's fierce competition, India and Indonesia makes Singapore an expensive property in a cheap neighborhood.The only way to grow income is to create new wealth, not trying to compete on prices.
"Lee's government must take bold steps and create to increase productivity and entrepreneurship. With tax incentives and regulatory adjustments, he can give millennia an idea and a dream to disrupt the model built by Lee's father
"Steps in March to increase the tax on goods and services and stamp goods for social spending was constructive, but it is time for Singapore to have a more dynamic, innovative, less factory-based and more resource-based future: a smart workforce. and determined
"The sudden explosion of reformist energy in Malaysia could make Mahathir an unlikely ally in this venture," he added
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