Inherent immorality of Malaysia’s ethnocentric political system
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- Category: Waytha Moorthy
- Posted by P. Waytha Moorthy
We have in BN an increasingly defensive Malay faction lined up with emaciated Chinese and Indian partners, and in Pakatan the smaller estranged Malay faction lined up with the monolithic Chinese block. A smattering of Indians are the window dressing on both sides with the dacing hanging in the balance.
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Malaysia's household debt currently stands at RM600+ billion on the back of an economic structure geared towards consumption. When export earnings fall, citizens are requested to consume to enlarge the domestic economy, leading to a significant amount consumer spending and debt that need to be assessed outside the terms of ratios.
In line with public interest, therefore, and as a first step towards democratising the management of government finances, we, the undersigned, call upon Barisan Nasional and Pakatan Rakyat, the main contenders for government in the 13th Malaysian general elections, to openly lay out detailed policy positions on how they intend to manage the nation's finances.
The Malaysian government's contingent liabilities are not fully known but are growing. It is important to take action to reduce the use of contingent liabilities before they reach a dangerous level and overwhelm the country’s fiscal capacity.