Declining Ringgit A No Confidence Vote On Ph Bn Government



(NST) – THE ringgit is being battered, a fact everyone agrees on. It is as to how to rescue the ringgit is where they differ. But one thing is for sure, that the depreciation of the ringgit has nothing to do with the state of the Malaysian economy is economic nonsense.
It is also a dangerous view to take if you are tasked with nursing the health of the economy. Dangerous because they will be prevented from doing the right thing, which is to reengineer the economy. Repairing the economy is not unlike mending the heart.
Malaysia needs an open surgery of the economy and like in an open heart surgery, the heart is taken out and life kept living by other means. Now people are hotly debating what “other means” are.
Those who have lived through such a surgery of the economy will remember the ringgit peg. It worked in 1998, but there is no guarantee it will work again. Then it was thought that the weak ringgit was the work of currency speculator George Soros.
The allegation wasn’t without basis. Six years before, Soros broke the Bank of England with his “Black Wednesday” raid. Britain’s central bank reportedly spent £3.3 billion, but still it wasn’t enough to stop the bleeding.
How could it? It was no match for Soros’ US$10 billion. If media reports were right, Soros made US$1 billion. Not an economic gain in any sense of the word. But that is a Leader for another time.
Be that as it may, some deep thinking on the nature of economic surgery is needed. Unthinking dismissals won’t help. Such deep thinking must focus on the drivers of the exchange rate and on the disabilities of the Malaysian economy.
This is no job for politicians whose longest time horizon is the next election. Politics almost always trumps economics, but it mustn’t be allowed to. Technocrats must be in the driver’s seat, though they often have been for fiscal policies, not monetary ones.
Uninformed politicians often dictate both. How much the uninformed minds of politicians are licensed to dictate both will determine the fate of the economy. The dollar is on the tear because it is the world’s currency, though the global shine is wearing off with more developing and emerging economies trading in their own currencies. The ringgit has a growth room here.
The ringgit will do well, too, if we rehabilitate the economy. Opportunities are many but one example will drive home the point about how the fate of the ringgit is tied to a robust economy. The agriculture sector presents such a rehabilitation opportunity.
Growing it means Malaysia will save more than RM75.71 billion on its food import bill, that is how much in the red we were last year. In 2021, it was RM63.65 billion. Except for 2018, Malaysia’s food import bill has been a rise-and-rise story since 2012.
The sad fact is that we can grow most of the food we import. Why we stopped growing them at home isn’t a mystery. Politicians and technocrats alike fell in love with a new darling: manufacturing. But not all we manufacture we can eat.
Some food has to be grown. It is not too late to rekindle the old love for agriculture. It’ll sure save us and our ringgit.
 


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

https://www.malaysia-today.net/2023/07/11/declining-ringgit-a-no-confidence-vote-on-ph-bn-government/

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
State Polls Important Indian Vote

State Polls Important Indian Vote

papar berkaitan - pada 16/7/2023 - jumlah : 107 hits
In this second article of my six state polls series I look at one of the important swing voters in the coming polls the Indian community Hurtful racialised comments and fielding of Indian candidates raise serious questions about their place...
Thailand S Pita Fails To Secure Majority In Pm Vote

Thailand S Pita Fails To Secure Majority In Pm Vote

papar berkaitan - pada 13/7/2023 - jumlah : 169 hits
US educated Pita Limjaroenrat is the leader of election winners Move Forward BANGKOK Thailand s Pita Limjaroenrat failed today in his initial bid to become Thailand s next prime minister after he was thwarted in a high stakes parliamentary ...
Ministry Studying Approach To Help Students Return To Vote

Ministry Studying Approach To Help Students Return To Vote

papar berkaitan - pada 7/7/2023 - jumlah : 111 hits
The Higher Education Ministry will identify a suitable approach to facilitate students and staff of higher learning institutions returning to their respective hometowns to vote in the six state elections on Aug 12 MOHE deputy minister Moham...
Tiong S Action Will Boost Tourists Confidence Says Hotel Group

Tiong S Action Will Boost Tourists Confidence Says Hotel Group

papar berkaitan - pada 1/7/2023 - jumlah : 174 hits
Immigration officers at KLIA were accused by a minister of asking tourists to pay RM3 000 to be released PETALING JAYA A budget hoteliers group says foreign tourists will have greater confidence in visiting Malaysia following the actions of...
Merge Pdf Files With Confidence Secure And Reliable Online Solutions

Merge Pdf Files With Confidence Secure And Reliable Online Solutions

papar berkaitan - pada 13/7/2023 - jumlah : 260 hits
Keeping your documents organized in the digitally driven world is vital It doesn t matter if you re a professional working on multiple projects or a student who is managing your coursework finding efficient ways to handle your documents is ...
2 Cops Charged With Multimillion Ringgit Condo Robbery

2 Cops Charged With Multimillion Ringgit Condo Robbery

papar berkaitan - pada 29/6/2023 - jumlah : 260 hits
Two sergeants attached to Bukit Aman have pleaded not guilty to robbing a man of millions of ringgit from his home in Wangsa Maju KUALA LUMPUR Two policemen attached to Bukit Aman were charged alongside two others in the sessions court here...
Rompak Jutaan Ringgit 4 Termasuk 2 Sarjan Mengaku Tak Salah

Rompak Jutaan Ringgit 4 Termasuk 2 Sarjan Mengaku Tak Salah

papar berkaitan - pada 29/6/2023 - jumlah : 113 hits
FMT ReportersPETALING JAYA Dua anggota polis yang bertugas di Bukit Aman antara empat lelaki didakwa di Mahkamah Sesyen Kuala Lumpur atas tuduhan merompak seorang lelaki membabitkan kerugian jutaan ringgit bulan lalu Dua anggota polis berpa...
Survey Report Suggests A Vote For Bn Might Not Transfer Into Vote For Pakatan Especially In Selangor

Survey Report Suggests A Vote For Bn Might Not Transfer Into Vote For Pakatan Especially In Selangor

papar berkaitan - pada 6/7/2023 - jumlah : 217 hits
This survey suggests that there is a greater de alignment between voters and Umno which is primarily contributable to the BN Malay voters rejection of the PH BN cooperation clash of party ideologies and the existence of rival parties that s...
Check Alat Tulis Anak

10 Vacuum Cordless Terbaik Untuk Bersihkan Rumah 2024

Drama Terjerat Kisah Cinta Terlarang Hingga Terjerat Dan Menjerat Hidup Hakiki

Penjelasan Isu Blackrock Oleh Pm Diterima Baik

How Brain Drain Can Be Beneficial To Malaysia And Why It Should Be Encouraged

For Winning Games Slot Gacor123 Apply Strategies

Plan Nak Pergi Holiday

Jangan Bersangka Sudah Beriman



6 Makhluk Mitos Yang Digeruni dan Disanjung Masyarakat Asia Tenggara

10 Filem Komedi Lawak Terbaru Yang Best Juga Tersedia Online Netflix Prime Video HBO GO Dengan Sarikata Bahasa Melayu

Info Dan Sinopsis Filem Ipar Adalah Maut 2024 Kini Di Pawagam Malaysia

Kahwin Beristerikan Bella Hanna Bella Luna Ini 10 Fakta Biodata Pelakon Redza Rosli Yang Ramai Tak Tahu

Info Dan Sinopsis Drama Berepisod Terjerat iQIYI Malaysia Gandingan Aliff Aziz Dan Ruhainies


Bunga Orkid Rosak

Subsidi Bersasar Bendung Ketirisan Diesel Bersubsidi

Muhyiddin Pernah Cadang Laksana Subsidi Bersasar

Bank Staff Colluded With Syndicate To Steal Client S Money Pula

Langsat Fruit

Bila Allah Tarik Nikmat Ibadah