Economist External Factors Matter But Issue Is M Sian Competitiveness




While acknowledging that external factors influenced the ringgit’s decline, World Bank economist Apurva Sanghi pointed to the 1MDB scandal and Malaysia’s lack of competitiveness as the root of the problem.
The bank’s lead economist for Malaysia said while other Asian countries hit by the 1997 Asian Financial Crisis (AFC) have introduced significant reforms, Malaysia’s lack of reform has hurt its economy in the long run.
“Malaysia’s ringgit began stronger than Thai’s Baht and [South] Korea’s Won but that is no longer because Thailand and Korea were two countries that (arguably) reformed the most after the AFC,” he posted on his X account today.
“They opted for short-term pain; long-term gain... but not Malaysia.”
He noted that since the AFC, Malaysia has not recorded a fiscal surplus, and its investments and exports - as a percentage of its gross domestic product - have declined.
The shock of the 1MDB scandal has also “severely dented” the ringgit, Apurva said.
His comments came after Bank Negara governor Abdul Rasheed Ghaffour blamed the decline on external factors such as expected US interest rates and uncertainty on China’s economic prospects.
This was disputed by former prime minister Muhyiddin Yassin.
In an interview with Bloomberg published earlier today, he questioned if the reason behind the weak ringgit is geopolitical, why is Malaysia’s currency performing among the worst?
The ringgit’s weak performance is eroding the trust in current prime minister Anwar Ibrahim and sparking anger towards the current administration, he reportedly said.
Trade with China
Meanwhile, Apurva said while external factors such as the US and China are important, they affect different countries differently.
Though China’s slowing economy may contribute to the poor ringgit performance - because much of Malaysia’s trade depends on the country - the Vietnamese Dong is outperforming the ringgit despite an even higher trade dependency on China.
Chinese trade accounts for 16 percent of Vietnam’s exports, compared to 13 percent for Malaysia, he said.
“(This is) Because of differences in domestic conditions and response.
“Weak ringgit is ultimately a symptom of a long-term decline in Malaysia’s competitiveness,” he said.
He added that the ringgit will take care of itself if policymakers are successful in “developing good habits”.
“If you want to lose weight, you develop good habits first. Weight takes care of itself.
“Likewise, ringgit suffers mostly from a long-term decline in Malaysia’s competitiveness. If you take care of this decline, which policymakers are attempting to do, ringgit will take care of itself,” he said.- Mkini


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

http://malaysiansmustknowthetruth.blogspot.com/2024/02/economist-external-factors-matter-but.html

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
Law Being Challenged Not Ordained By Allah But By The State Legislature Chief Justice

Law Being Challenged Not Ordained By Allah But By The State Legislature Chief Justice

papar berkaitan - pada 10/2/2024 - jumlah : 466 hits
The civil court verdict in allowing the challenge of certain provisions in Kelantan Syariah law cannot be considered as opposing Allah says Chief Justice Tun Tengku Maimun Tuan Mat The top judge said the law being challenged was not determi...
Amanah Youth Chief Says Pas Hadi As Mp Swore To Uphold Constitution But Insulted It Instead

Amanah Youth Chief Says Pas Hadi As Mp Swore To Uphold Constitution But Insulted It Instead

papar berkaitan - pada 15/2/2024 - jumlah : 333 hits
The Parti Amanah Negara Youth chief today accused Datuk Seri Abdul Hadi Awang of insulting the Federal Constitution he swore to uphold after the PAS president suggested Federal Court judges who ruled in favour of a petition to nullify provi...
Selangor Insists Woman Is Muslim As She Knows About Islamic Affirmation Of Faith But Lawyer Says She Didn T Recite It

Selangor Insists Woman Is Muslim As She Knows About Islamic Affirmation Of Faith But Lawyer Says She Didn T Recite It

papar berkaitan - pada 19/2/2024 - jumlah : 519 hits
In this case the woman identified only as D to protect her privacy says that she was never a Muslim as her conversion as a child was invalid and argues that this means the Shariah courts have no jurisdiction over her and that the civil cour...
Surendran Will Be Forgotten In A Month But Pkr Will Remain The Ruling Party Of The Country

Surendran Will Be Forgotten In A Month But Pkr Will Remain The Ruling Party Of The Country

papar berkaitan - pada 10/2/2024 - jumlah : 371 hits
No matter what it will be Malay heroes who will be taking the lion s share of honours positions and authority in PKR just as it will be the Chinese heroes that will be taking the best of what DAP has to offer Nehru Sathiamoorthy According t...
Selangor Pas Commissioner Refuses Comment On Royal Reprimand Issue

Selangor Pas Commissioner Refuses Comment On Royal Reprimand Issue

papar berkaitan - pada 1/3/2024 - jumlah : 223 hits
State Pas commissioner Datuk Dr Ab Halim Tamuri admits to have received the letter from the Selangor palace regarding the recent controversial statement by Tan Sri Abdul Hadi Awang However Ab Halim who is Paya Jaras assemblyman is refusing ...
Hamzah S Eligibility For Bersatu Presidency A Non Issue Saifuddin

Hamzah S Eligibility For Bersatu Presidency A Non Issue Saifuddin

papar berkaitan - pada 12/2/2024 - jumlah : 217 hits
The issue of whether Bersatu secretary general Hamzah Zainudin is eligible to run for party president or not does not arise as he has never indicated a desire for the top party position said Bersatu supreme council member Saifuddin Abdullah...
Pandelela Clears The Air On Entity Issue Claims Media Misinterpreted

Pandelela Clears The Air On Entity Issue Claims Media Misinterpreted

papar berkaitan - pada 17/2/2024 - jumlah : 534 hits
National diving queen Pandelela Rinong cleared the air today on the entity issue stating her words have been misinterpreted by the media leading to speculation and misunderstanding These issues are related to training However they have been...
Decision On Rice Supply Issue This Evening Pm

Decision On Rice Supply Issue This Evening Pm

papar berkaitan - pada 23/2/2024 - jumlah : 426 hits
The government will decide on the rice supply issue this evening said Prime Minister Anwar Ibrahim He said the decision would be made after the National Action Council on Cost of Living meeting today Anwar who is chairing the meeting said t...
Leaked Info Makes Police Accountable But Disrupts Probes Says Criminologist

Leaked Info Makes Police Accountable But Disrupts Probes Says Criminologist

papar berkaitan - pada 22/2/2024 - jumlah : 345 hits
Criminologist P Sundramoorthy says leaks can prompt internal probes and lead to the removal of corrupt officers and practices that endanger public safety PETALING JAYA A criminologist has acknowledged that leaking confidential police inform...
Rezeki Dikongsi Hari Malaysia 16 09 2025

Sabah Electricity Worker Swept Away In Flood

Banjir Di Perak Pulih Lebih 3 000 Mangsa Terjejas Di Sabah Kelantan

Ciapan Lama Amira Othman Ucap Tahniah Buat Fattah Amin Kembali Tular Memang Dah Crush Lama La Ni

Macc Adopting Ai Digital Systems To Boost Anti Graft Efforts

Sabah Floods Branded Man Made Disaster Of Systemic Negligence

Kolaborasi Ikonik Buatan Malaysia Secret Recipe X Zus Coffee

The Wonders Of Watermelon Fruit


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Suara Keamanan Profesor Lin Xiang Xiong

Percubaan Mewujudkan Ai Classroom World

Nila Seputih Biru

Button Badge Custom Cenderahati Murah Untuk Event Sekolah Bisnes

Buasir Otak Tv Buah Apa Yang Susah Be Like

Bekas Presiden Brazil Jair Bolsonaro Dimasukkan Ke Hospital Malaysiagazette