The New Economic Model - Old Wine?

One of the things that I will certainly remember come December 31st 2010 is the fact that to the best of my knowledge my organisation was the first to talk about the New Economic model. I did this in a radio interview in early January on BFM 89.9 fm. To date, except for one or two other consulting companies, nobody has really spoken about the NEM nor provided any thought leadership on this matter. I am proud that I had done my part through my organisation. I remember telling my team that "the NEM is the thing for 2010"!

Since then I have been waiting eagerly for the NEM to be unveiled. It was supposed to be end February but now I am told that it will be in April. Why the eagerness? Well, I wil be 40 this year and I am very sure that the NEM will in one way or another determine my life for the next 40 years as a professional, as a Malaysian and as a world citizen. In fact it will largely influence me on whom I am going to vote against in the next general election. It will also, more importantly, determine the type of country, society and polity that my children will live in. For these reasons, the NEM is very important for me. So, they had better not mess this one up.

And here is my wish list that I hope the NEM will reflect:

1. It must be a workable and realistic plan to achieve tangible economic goals. It must be worded in objective and clear language and not in opaque politically expedient rhetoric
2. It has to be an economic model not a political model though I believe if it is well conceptualised, articulated and executed, it will also become a successful political model which will once again place Malaysia as model democratically Islamic country
3. It must be an economic paradigm that is aimed at quantum changes and not incremental changes. The world is too fast now for incremental changes. The NEM must take this strong sturdy ship that we know as Malaysia into the high seas instead of staying pitifully close to safe harbour
4. It must be a model that gives rise to real meritocracy
5. It must be an economic model that finally interprets the federal constitution both in letter and its spirit
6. It must be an economic model that hammers in the final nails on the coffin of downstream manufacturing as the life-line of the country
7. It must be (oh God!) it must be a Malaysian NEM and not a Peninsular NEM.
8. It must be the catalyst for a radical and revolutionary change in our education, employment and immigration laws.
9. It must be the catalysis for a a true managed-free market system and not a manipulated-free market system.
10. AND it has to be an economic model that rides on ASEAN, India and China. In fact, there must be a supporting and documented strategy for this last point. I have no doubt that the future of this country will be closely tied to the future of ASEAN,India and China.

My biggest fear is that the NEM is the new NEP!...old wine in a new fancy face-book laced bottle!
God forbid for the sake of Ahmad, Chong, Raju, Jack, Mojuntin and Pinto.