But here are some thoughts on the issue of affirmative action, which is a huge portion of what the failed NEP was all about.
Malaysia's prime minister, Najib Razak, is in the process of overhauling what is likely the world's most extensive and intensive affirmative action program, called the New Economic Policy, or NEP.
First instituted in the early 1970s, the NEP was designed to expand the role of the impoverished Malay community in the national economy. The Malays represent the majority of the population, but back when the NEP was launched, Chinese immigrants and foreign firms owned the vast majority of the country's assets.
To fix that, the Malay-dominated government adopted all kinds of rules and regulations that gave special perquisites to Malays. Malay-owned companies received preferential treatment when bidding for state contracts, for example, while the government mandated Malay investors receive 30% of initial public offerings on the local stock market. It was an amazing experiment in social reconstruction.
Read the rest of it HERE
3 comments:
Repackaged for different purpose/time?
Sighs
One hopes that in the middle of their new merit-and-needs based affirmative actions, they will not have to apply affirmative action on the affirmative actions because the goodies keep on going to those who have been more marginalized than theirs.
But hope is such a poor emotion.
Hope you're keeping well, smart lady.
MWS - yes, repackaged to look acceptable in the international arena.
Walla - the goodies never go to those who need them. Don't get me wrong, there are heaps of Malays who need help. But it's the govt cronies who get those benefits.
I'm keeping well, thanks Walla. Just been very busy.
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