Who is Dr. Mahathir bin Mohamad.
A Malaysian politician who was the fourth Prime Minister of Malaysia from 1981 to 2003, making him longest-serving holder of that office. His political career spanned more than 70 years since he first joined a newly formed UMNO in 1946.
Perception of the Economy and How to Develop It.
According to the interview, he discussed Pakatan Harapan strategy to tackle the ringgit and GST issues. According to him, when cash will be returned, people will invest by knowing that their investments are beneficial to the country. Dr. Mahathir Mohamad also believes that when local investors know they are in the right position, they will have no second thoughts about investing. Ideas will also come when Pakatan Harapan is in power. He believes that Najib did not know how to improve the state’s economy because every decision made by Najib was unproductive.
Opinion About BR1M.
Dr. Mahathir explains that BR1M is a form of attachment in supporting the poor and unfortunate people. He points out that Najib has spent too much money for the people so that there was no money for national development. He noted that Najib received $140 billion US dollars from China to invest in buying land in Malaysia. He also mentioned that Najib must be transparent and expose the proposition of the support to know whether the economy is improving or not.
Dr. Mahathir’s Hopes About BR1M.
Based on the statement issued, the Pakatan Expectation Party pledged to reduce the donation given based on the BR1M and will resume subsidies on taxes and commodities if they win the next general election.
According to Dr. Mahathir Mohamad, the change in BR1M 2018 would take a long time to recover in the minds of the people. The process will be gradually being implemented since Najib has stolen from all over the country and now the country wants to get the money back.
If the money is suddenly stopped, people will only feel disappointed and find it difficult to adjust.
Foreign Direct Investment From China.
He said Foreign Direct Investment was to introduce wealth and tools to set up productive industries and to finance local production into foreign markets. For now, FDI is through selling Malaysia land and as a consequence Malaysians fail to capitalize on job opportunities once the land is sold. They can not occupy the land for sale. This form of dynamics by Najib should not be regarded as FDI. While Malaysia becomes richer with selling land, Malaysians will not benefit from it.
National Bank Foreign Exchange Issues.
According to Dr. Mahathir, the government used police enforcement to stop then from giving the opportunity to answer all these questions. He also explained that 1MDB was different from the Central Bank since the bank was assigned to manage the country’s reserves. The bank was of the opinion that the money invested in bonds was reduced. This is why they also want to get trading.
As Dr Mahathir states, there are problems of profit and loss in trade.