Malaysian Economic Transformation: Tough Days Ahead for Prime Minister Najib

February 24, 2011

Malaysian Economic Transformation: Tough Road Ahead for Prime Minister Najib, say Australia-based Think Tank

by Shannon Teoh at www.themalaysianinsider.com

Prime Minister Datuk Seri Najib Razak is taking an unprecedented gamble by pledging to dilute the system of Malay patronage that has kept UMNO in power, said a foreign report yesterday.

The Centre for Independent Studies (CIS) an Australia-based think tank said that the large support for the status quo and UMNOs current vulnerability meant that Najib will have a difficult task convincing his colleagues to risk all for the sake of Malaysias long-term future.

Its foreign policy research fellow Dr John Lee also questioned the prime ministers capacity to introduce economic reforms as the introduction of the New Economic Policy (NEP) in 1970 has cultivated a vast and deep network of rent-seeking and patronage. While acknowledging that the New Economic Model (NEM) introduced by Najib last year was enormously significant, Lee said that the decades of pro-Bumiputera affirmative action was now a millstone around the neck of the struggling Malaysian economy and the cancer behind the countrys growing structural problems.

However, the public policy think tank backs Najibs gamble as an opinion poll by the Merdeka Center for Opinion Research in 2008 found that 71 per cent of Malaysians including 65 per cent of Malays believed that affirmative action needed to be reviewed.

Lees paper, Malaysian Dilemma: The Enduring Cancer of Affirmative Action, said that the NEM has the potential to win back disaffected Chinese and Indian voters to Barisan Nasional (BN).

But the researcher, who was born in Ipoh b! ut migra ted to Australia, added that there has been few initiatives aimed at reducing the role of the state in the Malaysian economywhich is essential for cutting back rent-seeking opportunities by Malay elites in the name of affirmative action.

Calling steps such as relaxing Bumiputera equity requirements in 27 service subsectors piecemeal, the paper noted that Najib has had to placate pro-Malay groups including senior UMNO figures who are far from unanimous in their support of Najibs gamble.

The largely Malay civil service with its deeply entrenched pro-Malay culture means it will be difficult to effect genuine reform, Lee added.

Commenting on the paper, local libertarian think tank Institute for Democracy and Economic Affairs (IDEAS) believes that it is time to debate the policy of affirmative action.Project manager Afif Abdullah said that the evidence against affirmative action is now clearer. The prime minister must not succumb to demands from far right groups, be they Malay, Chinese, Indian, Dayak, or anything else.

Established in 1976, CIS states that it supports a free enterprise economy and a free society under limited government where individuals can prosper and fully develop their talents.


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