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Monday, August 12, 2019

Malaysia failed because education ministry didn’t get priorities right !

Daim: Malaysia far from being able to compete globally | The Edge ...

Let us not be under any illusions * We are still far from being out of the woods * We are far from being ready for the changes happening around us * We are far from being a united people * We are far from being able to compete at global level * We are far from being able to embrace differences and changes * underpinning all this unpreparedness is education * education key to preparing youth for future * education ministry has failed to prioritise right issues * hindered progress of reforms within the national education policy

Malaysia far from developed country with unified citizens ready to face industrial challenges of futures said Tun Daim Zainuddin.

Malaysia still playing catch up with 4th IR other countries gearing for 5th IR

Let us not be under any illusions

We are still far from being out of the woods

We are far from being ready for the changes happening around us.

We are far from being a united people

We are far from being able to compete at global level

KUALA LUMPUR: Malaysia is still far from reaching the status of a developed country with a unified citizen that is ready to face the industrial challenges of the future, said Council of Eminent Persons chairman Tun Daim Zainuddin.

Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.

“Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.

“We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.

“And underpinning all of this unpreparedness is education,” he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya’s Institute of Public Policy and Management.

The former finance minister pointed out that education is the key to preparing the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.

“We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics,” he said.

“To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the ministry of education, has not got its priorities right. The education ministry must not fail our nation.

“While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?” Daim added.

In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.

The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.

“Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances,” he said.

At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values, that are instilled in the youth at home and at the school level, will greatly impact on the type of adults they evolve into.

“We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards,” he said.

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Sunday, August 11, 2019

The importance of being united

Why is unity important to us? What is the Meaning?

The Kembara Merdeka Jalur Gemilang convoy in Kuching

' I can do things you cannot, you can do things I cannot; together we can do great things.'

THERE is a well-known fable about a father who called his four sons together and gave each one a stick; he then asked them to break their sticks and, of course, all four easily broke their sticks. But when he asked them to break 100 sticks held together, they failed.

The moral of the story is that phrase you all must have heard of before: “United we stand, divided we fall”. People can easily break you, crush you and disregard you if you are alone, but when you stand together, nobody can touch you.

Last month saw the formal ascension to the throne of the 16th Yang di-Pertuan Agong of Malaysia. The institution of the King is the embodiment of all Malaysians irrespective of gender, creed, colour, religious inclination and any other stripes we can think of. The Yang di-Pertuan Agong himself has also said that he wants to see a Malay-sia whose citizens are united and living in a peaceful, stable and harmonious country during his reign.

Such an aspiration can only come if we, as citizens, can think for ourselves and accept one another as Malaysians first. The operative word here is “accept”. For a long time we have been operating under the word “tolerate”. To tolerate is to allow something or someone that you dislike to exist without interference. Acceptance is embracing that something or someone as part of your world, as your brethren.

This is how we should build our society.

We should build a society where all Malaysians are seen as one. Where race or religion, culture or background, don’t determine positions and opportunities. Where we know that these are not what gives us special positions over others.

We should build a society that embraces this diversity because it is what makes us collectively great. A society in which we work with each other as equals towards the common goal of making a better nation where we all prosper and progress together.

Is that so difficult?

I think not if we are determined to see it through. I have come to the conclusion that if we aspire for a better Malaysia for our children and our children’s children, we, the citizens of this nation, need to do the work ourselves.

We cannot depend on politicians. Politicians cater to the lowest common denominator. They are about power first and they sacrifice ideals at the altar of power.

May 9, 2018, showed us the way. Though it may seem a long time and a thousand disappointments ago, our government was changed by the votes of moderate, liberal and progressive Malaysians of all races and religions, working in concert.

Yes. The moderates, liberals and progressives threw out a kleptocratic government that had been in power for 60 years. We did that.

This scared those looking out only for their own interests. They became loud. Politicians, being politicians, succumbed to the loudest voices, catering to those making the most noise. They practically forgot who voted them into power. Because politicians, true to their very nature, have no convictions except to power and to retaining that power.

I know whenever you see injustice, you feel like saying something but at the same time you feel afraid. Fear of reprisals, fear of upsetting people, fear of getting caught by wide-ranging laws – there are so many fears that you end up keeping quiet and hoping the injustice will just go away.

It won’t, it doesn’t. It will build momentum and, soon, it will become a permanent feature and by then, it is too late.

But what if you have support and back up from like-minded people? You become brave and stand tall against that injustice and face it. You have courage because you know there are people standing with you, supporting you against that injustice.

To deal with any injustice, we need to fight together, only then will we see the change we desire.

But how do we move forward from when we were united on May 9 to where we truly want to be? Relying on politicians to affect change is a mistake – events of the past year have shown us this.

The people need to be the ones to show the way. This, to me, is what Merdeka is about this year.

Moderates, liberals and progressives are the real movers of this nation. They are the ones powering the economy of Malaysia. They provide the intellect, the progressive capacity, and the hard work that has developed this country. They are the ones underwriting the subsidies that help build better lives. They are the ones who will continue to be that source of national wealth and health.

If you believe that you are moderate, liberal and progressive and proud of it, you cannot shy away from your responsibility to change this nation into a truly just, fair and equitable one.

I can no longer do it alone. This is, therefore, a call to action for all Malaysians to unite to make this a better country. To set the agenda to take this country higher. To be active with one voice and one body. We need to stand and be counted. We need to put our money where our mouths are. Let us organise and get active. We can make it happen.

A group of like-minded friends and I have put together a platform for this very purpose. We have incorporated the Malaysian Action For Just And Unity Foundation – in short, Maju.

The foundation came about from a realisation some of us had as long ago as a year before that momentous May 9: We realised that the voice of moderates, liberals and progressive Malaysians was weak and disorganised. It is a voice that is always trying to walk a soft path for fear of offending, and thus its message was being lost.

Subsequent to May 9, those thoughts became almost prophetic. We need such a foundation more than ever. We need a voice and a platform that will be a rallying point for progressive citizenry, that is consistent, loud and unwavering in its causes, expressed without fear or favour.

It took us a while but with our own initial funding and lots of hard work and perseverance, Maju was approved and incorporated in January this year.

A public launch is just around the corner, gift-wrapped for all Malaysians in this month of Merdeka.

We want you, the individual citizen, to be our supporters and funders: We will be funded with a minimum RM50-a- year-contribution from each person who registers as a supporter. We want to create a nationwide network and branches of supporters to carry out our agenda and activism.

We need your support to make a developed and progressive Malaysia a reality. Vision 2020 may not arrive next year but Maju intends to see that reality happen no matter how long it takes us.

We intend to achieve the goals that will make Malaysia great by:

> Promoting the Universal Declaration of Human Rights;

> Empowering civil liberties;
> Protecting marginalised communities;
> Ensuring progressive education.

The last point is vital. Through-out history, it is basic science literacy and its progress that has propelled technology.

Nations did not develop due to commerce first; instead it was the scientific discoveries that were the engines of technological progress, which in turn gave a nation’s commerce a distinct advantage that led to economic prosperity. We need to make a science-centric education system a reality.

We want Maju supporters who are science educators and academics to help us revamp the system to ensure our children’s education is substantively science-based from the primary level until students leave the secondary level.

We believe an emphasis on science will also have the by-product of producing students who are strong critical thinkers regardless of their final chosen vocations.

Join me. Let us Maju together and make a just, fair, equitable and progressive Malaysia a reality. As Mother Teresa once said, “I can do things you cannot, you can do things I cannot; together we can do great things.”

The views expressed here do not necessarily reflect those of Sunday Star.

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Poised for correction: A file picture showing a woman walking by an electronic stock board of a securities firm in Tokyo. After 10 years of continued rise in asset prices, markets are poised for correction. — AP

Tariffs are here to stay and likely to disrupt the 10-year economic cycle

IF investors ever needed a reminder that not all is right with the equities market, the shock waves the world capital markets, including Bursa Malaysia, had to endure earlier this week are proof enough.

Most stock markets are at the tailend of a 10-year bull run, although the same cannot be said for Bursa Malaysia which has generally has been more bearish than others in the last five years. Going by the current trends, Bursa Malaysia is likely to finish the year lower, which if it happens will be the fourth time in the last five years.

But the leading platform in the world which sets the pace for global flow of capital – the Wall Street – has been hitting new highs although it corrects from time to time largely due to the tweets from President Donald Trump.

Wall Street’s run started in May 2009 and seems to have the strength to carry on for a few more legs, defying conventional logic that economic boom-bust cycles corrects after 10 years. Other stock markets have had good and bad times since 2009 but the US has been consistently on the rise.

The benchmark Dow Jones Industrial Average, the Nasdaq and S&P 500, which charts the broader market, have all hit news highs. Bursa Malaysia on the other hand has languished between the 1, 600 and 1, 700 levels, with only one year of positive returns since 2014.

There are several reasons for Bursa Malaysia’s poor performance compared with other markets. For instance, the United States slashed tax rates, which spurred earnings of companies and has the best technology companies listed there. It’s not the same elsewhere in the world.

Nevertheless, after 10 years of continued rise in asset prices due to the combination of a low interest rate environment and advancement in technology, the markets are poised for correction. Until earlier this week, nobody had an inkling of an idea where and how the correction will take place.

However, after President’s Trump latest statement that the US would impose 10% tariff on an additional US$300bil worth of exports from China, it clearly underlines that the trade war is here to stay.

If anybody had a view that the trade war would end if President Trump does not retain his position in the US elections next year, they are wrong. Even some Democrats are leaning towards imposing tariff as measure to help the US keep its competitive edge in the world economy.

Reverse globalisation is no longer a bad word in world trade.

A 25% tariff has already been imposed on US$250bil worth of China’s exports to the United States since March this year.

It is bringing in billions to the US coffers with some going towards helping the farmers overcome the woes of the trade war. The person who takes over from Trump is not likely to dismantle the structure.

Any other president will want to get more from China, which is led by the influential President Xi Jinping, who is seen as the most powerful man that rules the second biggest economy in the world after the late chairman Mao Zedong.

China has retaliated by imposing tariffs on US$110bil worth of imports from the US so far including the produce from farms. It has also allowed the yuan to weaken, sparking concerns that the trade war is evolving into a currency war.Latest data from China shows that the exports are still growing and imports dropping in July even though there is a trade war, suggesting that President Xi will not yield to pressure from the US easily.

A new cold war in the form of the trade war has emerged. As a result, it has caused upheavals in the capital markets that should worry investors.

There have been significant shifts in asset prices from bonds to equities and commodities such as oil. Among all asset classes, dramatic movement in bond prices of government debt papers is the first to feel the impact from the trade war.

This is on the back of increasing certainty that the Federal Reserve and other major central banks will reduce interest rates more aggressively to stimulate the sagging economy. It has caused for money to seek safe haven such as US government debt papers.

For instance the yields on the 10-year US debt paper is 1.69% now. It was 1.9% a week ago and 2.06% a month ago. The yields moves inversely with the price of the bonds.

The yields on the five- and two-year government debt papers have also moved by up 18 points in the last one week. Such movements on billions of dollars will have an impact in the months to come.

The trade war has caused a major disruption in the global supply chain, evidence of the economy slowing globally.

If anybody wants any evidence of the disruption in global supply chain, they only need to go to the KLIA cargo complex and see for themselves the number of idle lorries that do not have enough cargo to move about.

In Malaysia’s case, apart from a slowdown in movement of goods around the world, the uncertainties in Hong Kong have exacerbated the situation.

The combined effects of the trade war, China’s economic uncertainties and Hong Kong’s future as Asia’s financial hub will only be felt in the fourth quarter of this year.

Until then, asset prices will continue to adjust to the new norm.

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