Najib Knows Best | Clipmarks


	Najib Knows Best

walski69

3-18-2009 7:48 AM

235 views

tags:

malaysia, economy, stimulus package, najib

walski69 says:

From the Wall Street Journal Online.

With the announcement of a huge stimulus package, Malaysia's next leader shows that he's no economic reformer.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3a7f2ca8-f468-4205-803a-816140a76100/CB204C57-3B3F-4467-8DD2-97922A40D35B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://online.wsj.com/article/SB123669916754984401.html" href="http://online.wsj.com/article/SB123669916754984401.html" style="font-size: 11px;">online.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB123669916754984401.html">
<P>The man slated to take over Malaysia's government later this month hasn't 
said much about his economic philosophy. But with the announcement of a 60 
ringgit ($16 billion) stimulus package yesterday, one thing is clear: Najib 
Razak is no free-market reformer.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB123669916754984401.html">Malaysia is following in the fiscal footsteps of the U.S., Australia and Japan, 
but that doesn't make it smart. The "stimulus" from all this spending will 
likely be limited. Most of the money will be spent on loan guarantees, 
infrastructure and public-sector expansion, rather than on tax cuts that could 
stimulate productive growth. State-owned investment company Khazanah, for 
instance, will be handed 10 billion ringgit. Pet projects such as "green 
investments" and the state-run auto maker will also see cash handouts. The 
government itself will hire 63,000 workers.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB123669916754984401.html">This is effectively a restatement of Malaysia's old, government-knows-best 
policies.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/CB204C57-3B3F-4467-8DD2-97922A40D35B/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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