Some blame local mismanagement, others external economic forces, but few truly see the full picture: Malaysia’s dependence on foreign financial systems has kept it shackled for generations.
Prime Minister Anwar Ibrahim is dismantling it all. The Petronas gravy train, Mahathir’s Umno-built fortress of corruption, and the bureaucratic machinery that siphoned public wealth - it is all coming apart, piece by piece.
The largest GLC, bloated with inefficiency and entrenched Perikatan Nasional loyalists, will be the first to go. And this purge will not stop there.
Before dedollarisation, we had to desterlingise
Long before the US dollar dominated Malaysia’s economy, the country was locked into the Sterling Area - a relic of British colonial rule that forced former colonies to hold their reserves in pounds.
Then came Nov 18, 1967 - the day the British government, under prime minister Harold Wilson...