Sunday, May 8, 2011

More Unpleasant Predictions about Malaysia

I went to a function today and had a chat with a few Malaysian businessmen who are doing businesses abroad.  We were also joined by a Malaysian who has been with the World Bank for years and is now posted to the United Nations. We discussed global economic trends and where Malaysia stands in the larger scheme of things.

The Vatican, the Jewish groups and the China are said to be global  economic firepowers.  Each of these groups are influential globally in their own areas.

Industrial and Commercial Bank of China (ICBC) is said to be the largest bank in the world. in terms of lending and deposits.  China Construction Bank Corporation, Agricultural Bank of China and the Bank of China also rank within the top 30 banks in the world.

China's car industry is also said to be the next major player in the world. Apparently, Japan no longer considers Malaysia's car market of any significance and this may lead to more cars coming from China to Malaysia - that too if the market volume is considered as commerically viable for China. The businessman who has business dealings with China, UK and other parts of the world predicts that the world economy will be completely different in five years from now with China being the major economic player in the world.

As to Malaysia, the consensus reached was that there will continue to be a major brain drain from the country. Malaysia is said to be regressing behind neighbouring countries like Indonesia, Singapore, Thailand and even relatively Vietnam. The recurring theme was the lack of competitive spirit and competence among the Malaysian businessmen and industry players. If this is true, then we have failed all these years to cultivate a competent industrial and business culture.

I have been hearing too many negative things being said about Malayisan business competency and this needs to be addressed. However, our country's politics seems to be too engrossed with sensational, trivial and nonsensical issues and news which have no bearing on the general welfare of the Nation.

I hope Malaysians have not become too full of themselves or "syok sendiri"  until we do not realise that globally, we may be considered as totally insignificant.



Living Seed said...

BRain Drain is our should increase salary to attract our citizens come back and working here!!

our Big2 industrial Player should be brave enough to go abroad!!

Anonymous said...

When do you ever hear good things being said about Malaysia? Has any one ever said good things about Malaysia?

For the record, I am one of those expats who came home to serve. I was offered PR and Citizenhip in Spore, but I return.

MRSM Kalae Chepo 66/73

Mac said...

As cliche as it sounds, i personally believe that we have good policies in place, but rather poor supporting institutional systems.. see my take on this: