A crash-and-burn here would bode poorly for the region. FMTNews Covid19
Prime Minister Muhyiddin Yassin has declared that nearly all curtailed activities can resume, rightly fearing a deep recession will be exacerbated every day the country is mothballed.
Malaysia’s thankless equation is part of a global conundrum. Goldman Sachs Group and Morgan Stanley economists said in recent days that there’s evidence that worldwide activity has bottomed and is starting to recover. The new Cabinet restores much of the old power structure but has yet to face a session of Parliament; its claims of having majority-backing have yet to be tested on the floor. These are consequential times for a team that lacks the stable mandate of a general election.
This isn’t the time to fret about the approach of zero. Across the world, borrowing costs are being pushed to rock-bottom levels. The year 1969 was a defining moment in Malaysia’s history. Communal violence devastated Kuala Lumpur and gave birth to policies that became a bedrock: The majority Malays would receive an array of preferences, especially in the public sector and education, over ethnic Chinese, who long controlled the bulk of private wealth.It hasn’t been tested by economic circumstances like these.
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