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PETALING JAYA: Malaysia intends to mitigate the worst aspects of globalization, which benefits the elite mainly by helping all the needy, regardless of race, said Datuk Seri Anwar Ibrahim .
"In Malaysia, the realization of democratic change through the ballot box has allowed us to implement the option for the poor.
"We defend human well-being and dignity as our most fundamental value and, in accordance with our values, must apply universally, without distinction of community or race," he said. in his opening address of the 9th Bosphorus Summit, "Sustaining Peace and Development for All" in Istanbul, Turkey.
The president of PKR added that the old model of racial politics is changing in Malaysia to become a model where help is provided according to need, regardless of race.
"This vital change means that it is the needs of the needy that will dictate the distribution of government support, rights and positive actions.
"The old communal politics gives way to a refinement of politics that aims to leave no one behind," said Anwar, also MP for Port Dickson.
"The sweeper or the poor fisherman must be able to feed and educate his family to become a fully responsible and no longer marginalized civil society agent."
At the Bosphorus Summit, Anwar said that globalization must be rethought as it does not automatically spread the benefits of economic growth.
On the other hand, it is the elite and the big global companies who have reaped the lion's share of the benefits.
"Globalization does not and will not automatically guarantee equity and distributive justice.
"On the contrary, while globalization has lifted millions of people out of extreme poverty – for the majority of countries, rich and poor alike, it has instituted a race to the bottom for a share of the crumbs.
"The beneficiaries of globalization have been the international companies and the richest 1% who have become super-rich."
A "race to the bottom" refers to the situation in which countries around the world are competing for lower wages, less worker protection, less taxation, and lower environmental standards to attract investment. 39, multinational enterprises.
Anwar said: "We need to reinvent globalization by ensuring that the moral hazard system is sufficiently re-established as a bulwark against the irresponsible exploitation of business, in order to suppress and encourage best practices. "
(The absence of "moral hazard" refers to the situation in which companies, such as the big banks, escaped largely unpunished despite their damaging role for the economy. during the global crisis of 2008-2009.)
Anwar added, "We need to generate enough profitability to support long-term investment and enable the development of new industries and technologies.We need enough foresight to build capacity and promote the sustainable health of our planet.
"We are fed up with economic opportunities and the creation of wealth that have been siphoned off to the elites, wasted by mismanagement and stolen by unscrupulous corruption.
"Distributive justice demands that we set limits, avoid excesses and ensure that everyone shares the efforts and benefits of business and wealth creation."
Anwar said any limit placed on companies was a "prudential limit" designed to ensure benefits for all and affect all sectors of society.
"Distributive justice is to ensure that there is something for everyone."
"It is not enough not to be in agreement or protest against globalization For the global system to be sustainable, critical awareness and values must be the active ingredients of a concrete policy.
"We must learn to stay at the center of everyone's concern for the well-being of all, and we will miss any other type of future," he said.
He added that the guidelines are not lacking if we stay true to our values.
Anwar stressed that education is another sustainable and sustainable value and that young people must have the skills to be productive, creative and enterprising.
"We must embrace the digital world of the future. we must be ready to face the rise of artificial intelligence and be able to rise to the challenge with a critical awareness of its benefits and potential pitfalls.
"We must equip all our young people, regardless of their background, with the tools to thrive in a world of work radically different from anything we now see as work," he added.
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