Malaysia Economic Growth: A Summary
Whenever I read about economic articles, it always led me to ponder about what I've learnt so far, and trying to memorized and applied the lesson on the particular article. I admit, I am still not yet that good, as I need to take time to think and relate with the lesson that I've learnt in the class. Sometimes, I have the urged wanting to revise my revision books. For example, when I heard about Greece's proposal for "bridge loan", that particular term was not learnt in class. So I have to ask "Professor Google" about it. Actually, that is not what I am intended to write right here, What I am intended to write here is regarding the forecasted Malaysia's economic growth since that was the headline for today's New Straits Times.
Since most Malaysian are too lazy to read, I'm going to simplify and extract out the essence of the article. This article is due to our Bank Negara Malaysia governor, Tan Sri Zeti Akhtar Aziz comments at the release of 2014 Bank Negara annual report yesterday.
1. In a highly open economy, in the event that external risks materialized, Malaysia will adversely affected, but our "strong fundamentals" will act as buffer to mitigate the impact.
As expected, the challenging market out there will somehow affected our economy. However, in order to make people feel ease a little bit about it, we can say that the impact will not be sudden. But I guess it will be proportionally felt by us. Those "fundamentals" can be assumed as cushion or airbag to slow down the impact.
2. Headline inflation is projected to be lower at two to three per cent this year compared to average 3.2% last year due to the lower global energy and food prices.
Aside from the fluctuates fuel price, I can't relate any of it or even imagine it, at least right now . So far, every expenses burden me. Maybe this can be changed later on this year?
3. Ringgit was significantly undervalued.
She however dismissed the notion that this happened due to Malaysia's dependence on a particular sector *cough* Oil & Gas *cough*. She said that 80% of the economy structure are services and manufacturing sector combined. Which currency depreciation is beneficial for those two sector because it can increased exports from the country. So, should I suggest we go for local products as alternatives for imported product before?
4. Local banking sector remained strong.
She claimed that Bank Negara Malaysia conducted stress tests on a quarterly basis so that action can be taken whenever there is vulnerability that can cause economic disruption detected.
5. The implementation of the GST will affect the earning of commodity-related sector.
This is due to the lower consumption by the public, as expected. But she said it can be neutralized by the lower fuel price. She also claimed that GST impact on overall headline inflation was expected to be contained, because basic necessities are either zero-rated or exempted from GST while for some other items, the GST would merely replace the existing SST, she said.
6. Public consumption expected to grow moderately, public investment to grow positively.
7. Gross exports is projected to moderate amid lower commodity prices. Export of manufactured products, however, expected to increase at a stronger growth rate.
8. Steady inflow of new large private projects and strong domestic demand are expected to drive growth in imports.
In my personal opinion, we have to see this as a whole. Maybe it is right, Malaysia's economy expected to grow steadily. But that is just a valuation based on the number. A holistic approach should be taken in order for us to achieve our dream to be a fully developed nation by 2020 (still skeptical about it). It would mean nothing if we manage to be a highly-income nation yet our wealth disparity still yet near to be solved. We shouldn't be selfish in developing a nation. Let us grow together and together, we can enjoy fruitful and prosperous nation.
Since most Malaysian are too lazy to read, I'm going to simplify and extract out the essence of the article. This article is due to our Bank Negara Malaysia governor, Tan Sri Zeti Akhtar Aziz comments at the release of 2014 Bank Negara annual report yesterday.
1. In a highly open economy, in the event that external risks materialized, Malaysia will adversely affected, but our "strong fundamentals" will act as buffer to mitigate the impact.
As expected, the challenging market out there will somehow affected our economy. However, in order to make people feel ease a little bit about it, we can say that the impact will not be sudden. But I guess it will be proportionally felt by us. Those "fundamentals" can be assumed as cushion or airbag to slow down the impact.
2. Headline inflation is projected to be lower at two to three per cent this year compared to average 3.2% last year due to the lower global energy and food prices.
Aside from the fluctuates fuel price, I can't relate any of it or even imagine it, at least right now . So far, every expenses burden me. Maybe this can be changed later on this year?
3. Ringgit was significantly undervalued.
She however dismissed the notion that this happened due to Malaysia's dependence on a particular sector *cough* Oil & Gas *cough*. She said that 80% of the economy structure are services and manufacturing sector combined. Which currency depreciation is beneficial for those two sector because it can increased exports from the country. So, should I suggest we go for local products as alternatives for imported product before?
4. Local banking sector remained strong.
She claimed that Bank Negara Malaysia conducted stress tests on a quarterly basis so that action can be taken whenever there is vulnerability that can cause economic disruption detected.
5. The implementation of the GST will affect the earning of commodity-related sector.
This is due to the lower consumption by the public, as expected. But she said it can be neutralized by the lower fuel price. She also claimed that GST impact on overall headline inflation was expected to be contained, because basic necessities are either zero-rated or exempted from GST while for some other items, the GST would merely replace the existing SST, she said.
6. Public consumption expected to grow moderately, public investment to grow positively.
7. Gross exports is projected to moderate amid lower commodity prices. Export of manufactured products, however, expected to increase at a stronger growth rate.
8. Steady inflow of new large private projects and strong domestic demand are expected to drive growth in imports.
In my personal opinion, we have to see this as a whole. Maybe it is right, Malaysia's economy expected to grow steadily. But that is just a valuation based on the number. A holistic approach should be taken in order for us to achieve our dream to be a fully developed nation by 2020 (still skeptical about it). It would mean nothing if we manage to be a highly-income nation yet our wealth disparity still yet near to be solved. We shouldn't be selfish in developing a nation. Let us grow together and together, we can enjoy fruitful and prosperous nation.
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Economy
It's Twitter's Birthday!
Image taken from wikipedia
Assalamualaikum and good day to everyone! I have to make it fast because in just one hour, it will be a new day here in Malaysia and this story will get expired by then.
So today is the Twitter's 8th birthday (correct me if I'm wrong) right? 21st March 2006 according to wikipedia. Therefore today twitter allows us to see our, OR ANYBODY ELSE'S first tweet. So go on, stalk your crush, take a look at their first tweet. I did view a few of my friends' tweet and make fun of it. So, this is my first tweet:
Infinitesane is now on twitter! Yes! Yes! Yes!
— Infinitesane TV (@InfinitesaneTV) March 25, 2012
Remember? of course not... me neither. You can check your (or other's) first tweet by click here.Ok, that's all. see you later...
KT
WrestleMania 30: Transition to the New Era?
Image taken from here
It's been a while since I wrote about wrestling and honestly it's quite awkward to write back. So please excuse me for the awkwardness that you'll perhaps encounter throughout this entry. Wrestlemania XXX (it means 30) is just 3 weeks away on 6th April (or 7th according to your timezone). From my personal opinion, there are so much things happening right now that it actually shows us the new direction toward this business.
Young Guns Jumping On
You just cannot deny the fact that many young talent nowadays get pushed by the WWE. Just look at Daniel Bryan and Bray Wyatt(both are on the poster), Roman Reign and Antonio Cesaro (okay, just Cesaro). Plus, they back it up with superb performance. The audience are backing they up. WWE really made great return on that NXT investment. That means the very talented midcarders like Dolph Ziggler, Tyson Kidd, heck, even Alberto Del Rio left behind because of these young talented rising stars. The crowd still chanting "We Want Ziggler" on each show. I know it because I want it to. He is one of the best seller in my book. Even when he had to be a jobber, he do it well and of course, stealing the show. I feel sorry and disappointed for him. This is the problem WWE are facing right now, (this is just my opinion, you don't have to agree if you want to) the "pool of talent" that WWE have is too many, it's "spilling off". And then you see familiar face like Ethan Carter III on TNA. Of course it's so obvious that he is Derrick Bateman from NXT. It's not wrong having so many talent on the roster, I just believe if only they can have a good build up story line, that will be great for TV. But I know I just can hope and honestly, managing so many talent is a real pain in the A$$.
Fans Perspective
WWE fans (damn it, I don't want to use universe, it's too cheesy) is very different on the previous era. Fans nowadays watching wrestling for a good match, and smooth story line. We (I include myself into the universe) treated it as we watch other TV series. We know it is scripted, not like before that the fans take some serious heat to the wrestler, basically a heel. We nowadays appreciate well executed wrestling maneuver and good, entertaining story line. We even cheer for a heel. We don't dig wrestlers with big, bulky muscular man anymore. As long they perform on the ring and entertained us, we're fine. We are more appreciating good performers than individual themselves. That is what happened to poor Batista. He did a comeback, won Royal Rumble and straight away get a main event spot in WrestleMania for the WWE World Heavyweight Championship? That is pissing CM Punk thus left WWE for good. And just like he said in his infamous pipebomb,
I'm just a spoke on the wheel -- the wheel's gonna keep turning. And I understand that...People will still buy PPV, watch RAW and SmackDown (I know I do) and bought merchandises. However Punk, personally I still miss you, your pipebomb and your in-ring action. If you ever feel want to make a comeback, I will cheer you. From my living room (or wherever I am).
Conclusion
As a conclusion, WWE need to adapt with this new direction of the wants of the fans. With their WWE Network (still not available in Malaysia, why Vince, why?), they're heading a little bit to the right direction and I hope to see more quality matches and story lines in the future. Or else I'll stop watching WWE and watching TNA. (I'm joking, TNA has best matches, but sucks at their story line). A lot of young and talented wrestlers waiting their turn to barge in to the main roster.
See you later,
KT
