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URL: http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
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UNIVERSITI TEKNOLOGI MARA (UiTM) / ECO INDIVIDUAL ASSIGNMENT.docx
Document ECO INDIVIDUAL ASSIGNMENT.docx (D140991267)
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INDIVIDUAL ASSIGNMENT MALAYSIAN ECONOMY (ECO261) i NAME NUR ANIS FAZLIYANA BINTI FAZLIZUL KHAN ii MATRIX
NO. 2020894686 iii SUBJECT ECO 261 iv LECTURER MADAM MAYMUNAH BINTI ISMAIL v DATE SUBMISSION 23 DECEMBER
2022 ACKNOWLEDGEMENT First and foremost, I praise and thank the Almighty
Allah SWT for his blessing, it is possible for me to completed this assignment. With great enthusiasm and determination, I was
finally able to complete this individual project. All the time I spent searching for collecting ideas and justifying theoretical tips to
drive output was worth my effort and time. Therefore, I would like to acknowledge, with thanks, the individuals who guided me
in completing this project. Firstly, I would like to use this occasion
to express my gratitude to my lecturer of Malaysian Economic, Madam Maymunah Binti Ismail, for guiding me
on how to complete this assignment. Then I would like to thank my fellow classmates and friends who have always helped and
guided me to complete this task. Lastly, I would like to thank my parents for understanding me and always praying for my
success in this world and in the future. May Allah SWT reward them for all their efforts and sacrifices. I hope my assignment is
fully filled and accepted. I have used all my efforts and knowledge to search for information and ideas. I really hope my efforts
are worth it.
Thank you! TABLE OF CONTENT NO. CONTENT PAGES i 1.0. INTRODUCTION 1.1. Article 1 1.2. Article 2 1 ii 2.0.
ARTICLE 2.1.
Malaysia's economy to expand 6.5-7.0pct in 2022 2.2. Embedded Myths of Malaysia’s New Economic Policy 2-3 iv 3.0.
REFERENCE 4
1 (1.0) INTRODUCTION 1.1 Article 1 The author (Farah Adilla) in her article titled: Malaysia’s Economy to expand 6.5 – 7.0 percent
in 2022, talks about Malaysia’s economy is expected to register a higher growth within the range of 6.5-7.0 per cent for 2022 and
is expected to remain resilient
in 2023. The article was posted on New Straits Times website on the 8 th October 2022. She states in the article that the rate
of
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economic recovery is also dependent on the other factors which related with chapter one subtopic which is “Malaysia’s Sources
of Growth” such as successful pandemic containment, cost-of living support, and efforts to mitigate downside risks such as
geopolitical uncertainty, global inflation, tightening financial conditions, aided by favourable domestic momentum and
consistent external expansion. 1.2 Article 2 According to the author (
Christopher Choong Weng Wai), in his article titled "Embedded Myths of Malaysia's New Economic Policy,"
reflections on the NEP at 50 have been scarce over the past year, which is understandable given that
the nation was fighting for lives and livelihoods and analysts were weary of repeating the same
clichés
for years. On April 4, 2022, the article was published on the website of The London School of Economics (LSE). In the article,
he claims that the
few commentaries and interviews that have appeared show the policy's divisive opinions, ranging from linking it to institutional
racism to expressing real worries about patronage politics to bemoaning how a carefully drafted policy has changed over time.
2 TITLE: Malaysia's economy to expand 6.5-7.0pct in 2022 2.1 Article 1 Discussion The main issue based on this article is that
Malaysia's economy is expected to grow faster, at a rate ranging from 6.5 to 7.0 percent. Despite the macroeconomic challenges
posed by China's slowing economy and long-running geopolitical conflicts, Malaysia's economy, however, will grow by four to
five percent in 2023, according to the Economic Outlook 2023. The rate of economic recovery is also affected by other factors,
including successful pandemic containment, cost-of-living support, and efforts to mitigate downside risks. The economy is
expected to grow further in the second half of the year as development programs and projects continue to be implemented.
Following the regional relaxation of COVID-19 restrictions, the resumption of economic and social activities, as well as an
improvement in international travel activity, have boosted growth prospects, which are accompanied by an increase in tourist
arrivals, as mentioned in Chapter 1. Thus, from this article, I have learned that it relates to the tertiary sector, which is tourism,
which is covered in the subtopic under Malaysia's Economic Structure in Chapter 1, where this sector involves services that can
be divided into public and private services. Hence, domestic and international tourism activities have a positive impact on the
(GDP). Simply put, as stated in the first article, the tertiary sector is the primary source of employment opportunities, the
foundation of any economy, and the primary provider of services to individuals and other organizations. A significant portion of
government tax money is produced by this sector's revenue. At this stage of the economy, as an economy develops, each
sector's revenue and impact increase as it surpasses the one before it. The reason I chose this article is to show how important
investing in this sector can be in order to gain a healthy and prosperous economy.
3 TITLE: Embedded Myths of Malaysia’s
New Economic Policy 2.2 Article 2 Discussion The main idea in this article is
that
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in the last year, reflections on the NEP at 50 have been few and far between, which is understandable given that the country
was fighting for livelihoods and analysts were tired of repeating the same tropes for years where few commentaries have
emerged reflect the policy's polarized assessments, which range from associating it with institutional racism
how a well-crafted policy has mutated over time, to defending its relevance
in the face of persistent racial inequalities and wealth concentration.Besides, while the NEP
conceptually distinguished the two prongs with different policy tools to address
these disadvantages stemmed from the same racial processes affecting a large group of Bumiputeras who shared similar
socioeconomic conditions in the early years of independence. These racial processes resulted in a wide range of widespread
poverty to under-representation in "modern" economic sectors.
Also, the affirmative action programme may be reconstructed in more effective ways with the help of a new notion of justice
based on the intersectional, racial realities of poor Bumiputera’s as mentioned
in chapter 2 which is “Background of Malaysian Economic Development.” under New Economic Policy (
the government implemented over a twenty-year period with the primary goal of promoting national unity
with the goal of eradicating poverty by increasing poor people's access to land, capital, training, and other public amenities, as
well as increasing their income through education and employment in the modern sector, as well as establishing MARA and
reshaping society by reducing Malays and other indigenous people's reliance on subsistence agriculture.Thus, I have learned
from the second article how important the NEP is in creating national unity and the strategies used to achieve
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as we reflect on the NEP today from the perspective of a fractured nation and a stagnant economy, there is no escaping the
fact that the long-standing inequalities of disadvantaged Bumiputeras must be confronted with new perspective
and in order for Malaysia to move forward, the government must eliminate existing discrimination.
4 (3.0) REFERENCES 1. “
Embedded Myths of Malaysia’s New Economic Policy.” LSE Southeast Asia Blog, 4
INDIVIDUAL ASSIGNMENT MALAYSIAN ECONOMY (ECO261) INDIVIDUAL ASSIGNMENT MALAYSIAN ECONOMY (ECO261)
i NAME NUR ANIS FAZLIYANA BINTI FAZLIZUL KHAN ii i NAME NUR ELLYANA BINTI AWANG JERMPI ii MATRIX NO.
MATRIX NO. 2020894686 iii SUBJECT ECO 261 iv LECTURER 2020460548 iii SUBJECT ECO 261 iv LECTURER MADAM
MADAM MAYMUNAH BINTI ISMAIL v DATE SUBMISSION 23 MAYMUNAH BINTI ISMAIL v DATE SUBMISSION 16
DECEMBER 2022 ACKNOWLEDGEMENT First and foremost, I DECEMBER 2022 2 Acknowledgement First and foremost, I
praise and thank the Almighty would like to praise and thank the Almighty
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Thank you! TABLE OF CONTENT NO. CONTENT PAGES i 1.0. Thank you. 3 TABLE OF CONTENT NO CONTENT PAGES I.
INTRODUCTION 1.1. Article 1 1.2. Article 2 1 ii 2.0. 1.0 INTRODUCTION 1.1 Article 1 1.2 Article 2 4 II. 2.0
in 2023. The article was posted on New Straits Times website in construction. The article was posted on The New Straits
on the 8 th October 2022. She states in the article that the Times, last year on 9.15 p.m. She states in the article about
rate of the vaccination of
Christopher Choong Weng Wai), in his article titled Christopher Choong Weng Wai April 4th, 2022 Embedded
"Embedded Myths of Malaysia's New Economic Policy," Myths of Malaysia’s New Economic Policy 0
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
the nation was fighting for lives and livelihoods and analysts the nation was fighting for lives and livelihoods, while
were weary of repeating the same analysts were wearied by years of repeating the same
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
New Economic Policy 2.2 Article 2 Discussion The main idea New Economic Policy 2.2 ARTICLE 2 Discussion The main
in this article is issue in this article is
in the last year, reflections on the NEP at 50 have been few In the last year, reflections on the NEP at 50 have been few
and far between, which is understandable given that the and far between: understandably so, as the nation was
country was fighting for livelihoods and analysts were tired of fighting for lives and livelihoods, while analysts were wearied
repeating the same tropes for years where few commentaries by years of repeating the same tropes. The few
have emerged reflect the policy's polarized assessments, commentaries and interviews that have emerged reflect the
which range from associating it with institutional racism polarised assessments of the NEP, ranging from associating
the policy with institutional racism,
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
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how a well-crafted policy has mutated over time, to how a well-crafted policy has mutated over time, to
defending its relevance defending its relevance
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
conceptually distinguished the two prongs with different conceptually distinguished the two prongs with different
policy tools to address policy tools to address
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
these disadvantages stemmed from the same racial these disadvantages stemmed from the same racial
processes affecting a large group of Bumiputeras who shared processes affecting a broad group of Bumiputeras who
similar socioeconomic conditions in the early years of shared similar socioeconomic conditions in the early years of
independence. These racial processes resulted in a wide independence. These racial processes were manifested in
range of widespread poverty to under-representation in different forms of disadvantages, ranging from widespread
"modern" economic sectors. poverty to under-representation in “modern” economic
sectors.
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
for years. On April 4, 2022, the article was published on the for rights on the other. The item was published on the
website of The London School of Economics (LSE). In the website of The Edge Markets on the 13th of August in the
article, he claims that the year 2020. He claims that the
in chapter 2 which is “Background of Malaysian Economic in chapter 2 which is ‘Background of Malaysian Economic
Development.” under New Economic Policy ( Development’ under the subtopic New Economic Policy
(1971-1990)
the government implemented over a twenty-year period with The government implemented a twenty-year NEP with the
the primary goal of promoting national unity primary goal of achieving national unity.
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growth with equity and active government participation in Growth with equity and active government participation in
the economy. the economy
as we reflect on the NEP today from the perspective of a As we reflect on the NEP today, seeing it from the standpoint
fractured nation and a stagnant economy, there is no of a fractured nation and a lacklustre economy, there is no
escaping the fact that the long-standing inequalities of avoiding the fact that the enduring inequalities of
disadvantaged Bumiputeras must be confronted with new disadvantaged Bumiputeras must be confronted with fresh
perspective perspectives.
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
Embedded Myths of Malaysia’s New Economic Policy.” LSE Embedded Myths of Malaysia's New Economic Policy | LSE
Southeast Asia Blog, 4 Southeast Asia Blog
http://blogs.lse.ac.uk/seac/2022/04/04/embedded-myths-of-malaysias-new-economic-policy.
growth with equity and active government participation in Growth with equity and active government participation in
the economy, the economy
s economy to expand 6.5-7.0pct in 2022. New Straits s economy to expand 1.1pct in Q1 2022, OPR at 1.75pct.
Times.https://www.nst.com.my/business/2022/10/838512/m Retrieved from New Straits Times:
alaysias-economy-expand-65- 70pct-2022 https://www.nst.com.my/business/2022/05/794668/
moodys-economy- expand-11pct-
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