The Zimbabwization of Malaysia
https://www.asiasentinel.com/p/zimbabwization-malaysiaThe government headed by Prime Minister Ismail Sabri Yaakob is planning to force freight forwarding companies and small and medium enterprises across a range of industries to divest 51 percent of their equity to Bumiputeras – native ethnic groups, although in practice that means to ethnic Malays.
That it is an idea that drove Zimbabwe into ruin appears not to have occurred to the UMNO-dominated coalition now running the country. Expropriations don’t work. They typically enrich a class of opportunists, drive productive people out of the country and leave the rest an impoverished economy. The coalition needs to take a look at how closely Malaysia is following Zimbabwe, once one of the most prosperous countries in Africa, down the economic drain. Not for nothing did Bloomberg recently call Malaysia a failed economy.