When Roubini talks you better listen.This the same man who presciently predicted the US sub-prime crisis three years before it happened.
Many of us know that Malaysia's GDP is on the decline and we are becoming less competitive over the years plagued by inherent poor fiscal policies, a non-evolving labour force and the over-zealous NEP that put wealth into the hands of selected and politically well connected individuals.
If the Malays want the country to progress than they need to help the Prime Minister by supporting his policies and lessen the rent seeking anomaly that have put a brake on the economic growth of the nation or face the perils of this nation falling on the wayside.
Nouriel Robini is a star economist and highly respected.
We have already been overtaken in our economic activities by Singapore, our southerly neighbour, a tiny dot with only 5 million people and no natural resources.
Shouldn't we be ashamed of ourselves that we can lose out to countries like Singapore and Hong Kong whose only resources are its human capital which we seems to be very lacking in performance henceforth the lackluster economic performance. Other than the bad fiscal policies in plain language we are lazier than our contemporaries in the region.
In term of population with Singapore that's 5 million against 26 million. Obviously, there is something very wrong with us and if the government do not arrest this most embarrassing situation soon we would surely be moving into stagnated growth and eventual economic disaster.