Friday, September 25, 2009

Harvard Business School To Study Najibnomics? Gnanalingam, You Must Be Joking...

The Harvard Business School in Boston will undertake a case study, highlighting Prime Minister Najib Razak's “courageous and bold” initiatives to tackle financial crisis.
The case study, to be used as a subject in the core curriculum of the macro-economic module, will be a capstone on how crisis is transmitted internationally.
It will also discuss how a country that has sound fundamentals and good regulations could withstand an international crisis.
The country is known for consolidating the banking, insurance and financial institutions following the 1998 currency crisis, said Harvard Business School Alumni Club of Malaysia in a statement today.
Besides highlighting Najib's bold economic reforms, the Harvard study would also focus on the various economic liberalisation moves, measures taken to prepare the country for the Asean Free Trade Agreement (Afta) and World Trade Organisation (WTO) negotiations, said Alumni president G Gnanalingam.
“Harvard would also bring to attention how the country positions itself on free trade agreements with other countries and how its economic zones are poised for further foreign direct investment attractions.
“We in the alumni are proud to be associated with such a work as the study would become part of the syllabus programme and taught to thousands of international students.
“Moreover, the students at Harvard will hear about what the government and Bank Negara Malaysia have done since the 1998 crisis to regulate and stabilise the economy,” said Gnanalingam.
Previous case study on capital controls
The previous case study on Malaysia published in April 2002 entitled 'Malaysia – Capital and Control' written by Rawi Abdelai and Laura Alfaro, has been one of Harvard's most successful case studies. It analysed the political economy of capital controls in Malaysia during the 1997/98 Asian financial crisis.
It has been taught in every class for the last seven years not only to Harvard Business School students taking a masters degree in business administration but also to senior managers who attended executive programmes.
The students constantly praised the case study as it highlighted the views expressed by Malaysian leaders, the statement added.- Bernama Report
What Najibnomics? The whole write up is about 1997/98 Financial Crisis and where was Najib then?
Have we really gotten ourselves out of the 97/98 crisis? Over expansion through over-inflation of value. Over-borrowed and over-corrupt. That was the cause of the crisis. Our country was riding as high as twin tower on a 25 storey foundation. When the foundation starts to crack, the whole structure collapsed.
Hell broke loose. Everything just nosedived. Capital control was imposed. Petronas, banks and Epf have to bear the brunt while those with their ill-gotten gains through unscrupulous means stacked their gains elsewhere.
With adjustment of few parameters, everything looked good again. A new accounting base year was set in year 2000. From there, everything was swept under the carpet. How much was actually lost remains a mystery?
But the effects from the crisis is still felt till today. Ringgit remains weak against the dollar. Inflation remains high.
Najibnomics? He just took over few months back and they are giving him recognition so fast? Even before we see the effect of the RM67B rescue package which RM50B comes in the form of guarantees without money involved.
RM67B but where is the beef, Najib?
From layman point of view, everything has remained stagnant after deteoriating to a point that it cant go down any further.
Government spending though minimal is still not commission free and is not of any beneficiary to the people. 1Malaysia concept: 1Malaysia F1 team, Monsoon Cup and etc. etc..
Take it from the people through removal of subsidies, taxation, levies and whatnot to finance their commission infested projects.
That's Umnomics...


kedekuttapibayarcukai said...

The report must indicate extra column ... commission , actual cost , extra cost affected to malaysian ...

Anonymous said...

Harvard endowment fund down, need money ma

Anonymous said...

The beneficiaries of patronage have this great need to keep attaching themselves,like the highly efficient leeches that they are, to new patrons!

Malaysia started breeding these a couple of decades ago and they are a dominant species among our 'successful' corporations.