Economy of Tomorrow Regional Conference 2020 – Day 1
The Bigger Picture: A discussion about the global trend in a post COVID-19 world, and the need for a new economic and social paradigm
The Bigger Picture: A discussion about the global trend in a post COVID-19 world, and the need for a new economic and social paradigm

The nation needs a stable government in times of crisis. In the "new normal" spirit, all parties need to work together in Parliament to face the health and economic crisis brought about by the COVID-19 pandemic. Article in Malay.

Frederik Paulus, Economic Advisor at REFSA shares his view on Malaysia's climate change commitments, what more needs to be done and the importance of the state acting as a catalyst and a venture capitalist of sorts, for the private sector to come up with the most efficient solutions.

这一切先得要有思维上的改变,过去追求的财政纪律和平衡预算,只会在当下的危机里让经济更为糟糕,我们要推动范式转移,使政府在经济领域能够扮演更积极的角色。

A vote of no confidence is not a new thing. The question is, what is the significance of the Opposition MPs sending a no-confidence motion if it cannot be decided in Parliament?

This will require a shift in mindset, moving away from fiscal discipline and balanced budgets, toward a new paradigm where the state fully assumes its role as catalyst for the economy and as anchor investor in uncertain but transformational ventures.

Budget 2021 will need to incorporate measures to ensure the survival of the economy in the short term, while balancing this with the creation of good jobs and a stronger social safety net, to lay the foundations for a dynamic economy in the future.

There are huge challenges societies have to face due to the COVID-19 crisis, and the state needs to think about how to play a more active role in creation of high-paying jobs.

Governments should not obsess over increasing debt with borrowing, as now is the time to spend to mitigate the effects of the Covid-19 pandemic

To avoid general election and constitutional crisis amidst the pandemic, bipartisanship is the sole option for Muhyiddin to stabilize his government with confidence and supply from the opposition.