Reformasi in the economy. Part 1. Devil's advocate series no 11.

1. It was reported this. The government is looking forward to 10 Malay IPOs. They want to create 500m Malay noveu rich

2. When I read this, I know that economic reformasi is fake

3. If the malays are good, why do they need assistance from the government?

4. This is what you get, when you believe that the greatest economic achievements come from the dictates of central command economics

5. The truth is, the greatest of economic achievements result from private enterprise operating under a system of free market economics.

6. Sunway did not grow big because some bureaucrats in Putrajaya guided it's growth

7. The Kuok group does not become big because Amir Hamzah and gang bridesmaid them

8. Similarly, the IOI group doesn't become big because some bureaucrats in Putrajaya tell them what to do

9. On the other hand, as comparison, look at how most of the bumi companies got big.

10. They got big because they were given exclusive licences, monopolies and were given direct businesses by the government

11. They got big from the assistant of what I called the grand deep state.

12. A deep state is the collusion between high government officials and the business community

13. A grand deep state occurs when the is collusion between high government officials AND political leaders and the business community.

14. You think a Bangla can become a big taiko and towkay without the grand deep state?

15. Or nexG becomes a billion ringgit business without the grand deep state?

16. Or the man who rented helicopters to PETRONAS, Syed Mokhtar presently, others got big without the grand deep state?

17. Even NAFAS- can it evolve into a company of leisure and decadent wealth supplying fertiliser nobody wants if not assisted by the grand deep state?

18. Let's get real- this will be a contest between central command economics and free market economics .

19. The companies that thrive for the moment because of central command economics will eventually fail

20. Because they evolved not though building organic competencies but grew because they are hand guided by the grand deep state

21. On the other hand, company that grew because of internal competencies will endure .

22. What happened when 1 day, anvar ebraheem decides to remove the grand deep state and removed monopolies, licenses and so on?

23. The companies that thrive for the time being because of patronage, will go kaput!

24. Will the PM realise that this way of economic growth by the dictates of central command economics and through the grand deep state is the UMNO way?

25. The first step on the road of economic reformasi begins by unfollowing the UMNO way!