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Economics/Business Malaysia Malaysia's Disastrous Capital Flight
Economics/Business Malaysia Malaysia's Disastrous Capital Flight | Malaysia's Disastrous Capital Flight |
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| Written by Our Correspondent | |
| Monday, 11 January 2010 | |
 Money leaves the country on an unprecedented scale
Churches are not the only thing to have been going up in flames in Malaysia. Take a look at the nation's foreign exchange reserves. They fell by close to 25 percent during 2009 according to investment bank UBS even though the country continued to run a huge surplus on the current account of its balance of payments. Says UBS: "Question: which Asian country had the biggest FX losses in 2009?" The answer is Malaysia and by a very large margin; we estimate that official reserves fell by well more than one quarter on a valuation-adjusted basis". It describes the situation as "bizarre" and contrasts Malaysia with other countries with large current account surpluses – Thailand, China, Taiwan, Singapore, and Hong Kong – which have seen their reserves increase – as should be expected. In short there has been an exodus of money from Malaysia on a scale which surpasses that which occurred during the Asian crisis. Nor is this just a mirage. The decline is also reflected in a sudden decline in base money supply – even while, thanks to Bank Negara, broader M2 has continued to grow modestly. Who is responsible for this massive outflow? And where has it gone? The questions cannot be answered from the data and probably will not be by a government that knows its own state-controlled enterprises, headed by Petronas, may probably be responsible for part of it. The more certain reason however is the outflow of local private capital has been taking place on an unprecedented scale in response to political instability, massive official corruption and discrimination against non-Malays. This capital bloodletting has as yet attracted little attention because Malaysia's foreign debt levels had declined dramatically since the Asian crisis and its reserves reached very healthy levels. So the outflow has not disturbed the financial markets, and Bank Negara has easily been able to keep interest rates low and the currency strong. But unlike 1998, when the exodus of hot foreign money was a major contributor to the crisis, foreigners cannot be blamed. There is little speculative interest in the ringgit and the Malaysian bourse has rather fallen off the map as far as foreign institutional money is concerned. The BRICs, India, China, Russia, Brazil have taken the merging market lead once dominated by Southeast Asia. Nor is there much evidence that the Middle East money which was supposed to be flowing into Muslim Malaysia, into holiday apartments or Johor's massive Iskandar development zone, has been much in evidence. Malaysia's one recent success, the development of its sukuk (Islamic bond) market may have caused more capital outflow than inflow. At any rate any overall net inflow of foreign capital whether into bonds, equities, factories or real estate has been dwarfed by the exodus of Malaysian money. The latter is reflected in the weakness of private sector investment, which now trails public investment. Indeed it explains why the economy remains weak despite very healthy prices for most of Malaysia's commodity exports. The nation has been running a current account surplus of more than 10 percent of gross domestic product for the past decade and hit about 17 percent of GDP in the year just ended. Initially this surplus was needed to pay down debt accumulated during the mid-1990s Mahathir boom years and to rebuild foreign exchange reserves to healthy levels. But subsequently it became simply a consequence of the weakness of private investment. Domestic investors were discouraged by the corrupt and warped system and foreigners moved to China and elsewhere. GDP growth has become ever reliant on government stimulus – again racially biased in its allocation -- financed by a persistently large budget deficit. Meanwhile, publicly controlled capital has been rushing overseas. Petronas has been spending its billions in profits around the world as it attempts to become a major global player – at the expense of Malaysian citizenry in general and the oil and gas producing states in particular. Other government-controlled entities such as Malayan Banking Bhd have been bidding top dollar for foreign assets – such as Bank Internasional Indonesia. Often with the exodus of money goes an exodus of talent as highly skilled persons disadvantaged by race or, as in the case of some Malays, disgusted by local corruption or primitive religious authorities, take themselves and their capital to Australia, Canada, India, China, etc. The 2009 reserves loss may have had some specific cause which will not be repeated. But it has merely served to underline a dismal trend which has been in evidence for the best part of a decade. Malaysia has so far been saved from itself by the commodity price gains of the past five years – with even the late 2008 collapse now largely reversed. Oil and palm oil may be off their peaks but both are now double their prices of five years ago. It is better not to imagine what will happen to Malaysia if prices collapse to 2004 levels and stay there. Better now to address the real reasons behind capital outflow and lack of private investment. Comments
(27)
Disrimination in Malaysia., Lowly rated comment [Show]
Hey!, I am staying at Kepong, Kuala Lumpur and I read some of news about Buddhist monks from Myanmar who resident of Taman Desa Jaya, Kepong, Kuala Lumpur. That when I go to that news my mind is very sad or less of energy because why (MCA Chairman Gombak)Datuk Yip kum Fook President of Buddhist Temple so mind very low and dirty.
Votes: +0
Sanghas(Buddhist monks) are behalf of Buddha and Sanghas do as Buddha work because passed way to attained highest Nirvana(Nibbana) about 2500 years ago in India. Today we can see only Sanghas here and there or do their duty for continue of Buddhist teaching, also all the Sanghas, they have their society or group, if any monks mistake, all of us available to complaint to their head leaders Malaysia is more the other religions, when we are Buddhist to do anythings must very careful, this is very important, this Datuk Yip Kum Fook want to make Buddhist short age because he and his teams came temple to removed some monks out from Temple, I heard some monks needed to go out immediately because his teams and police are very strong. Why Datuk Yip Kum Fook not think to correctly before done somethings, may be he unmindfulness or loose memory, I heard the Datuk Yip is Senator, Lawyer, chairman of MCA but his mind is very normal, also may be somethings inside there. report abuse
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2.Ven. Phra Piya Thammo,
Votes: +1
Rumah Pangsa Blk A-7-9- Jln Padang Tembak, 11400 Pulau Pinang, Malaysia Dear Devotees, Before I commence of my letter-writing toward. All of you, I would like to inform all of you that I am not satisfy with the lawyer, Dato YIP KUM FOOK due to his bad inspirit impressions because he sent an inspector to come to our Buddhist Temple to arrest me without any good reason, moreover, the lawyer, YIP KUM FOOK is not satisfy with Chief monk. When the Chief monk had me to go to his Temple already and he went away and left me alone to take care until Chief monk come back to the Temple first and he also told me not to leave the Temple if any committees or the chairman want to chase me out, you don’t leave the Temple at all understand? Then I said, alright? To the chief monk! On the second Day, YIP KUM FOOK came to our Temple and talk to me. He tired to make some inquiry from me and he asked me, where I come from? I told him that I came from Penang. Then, I told to the lawyer (YIP KUM FOOK) that the chief monk came to Penang and fetch me and invited me to accompany him to go to his temple in K.L. I am not aware that YIP KUM FOOK is not in a good terms with the chief monk, chief monk already in this way, YIP KUM FOOK try to create trouble with me unnecessary. That is why, the lawyer want to chase me out of the Temple. Then I asked the lawyer, why you want to chase me out of the temple? Moreover, the Temple is not belonging to you, UNDERSATAND? Then, I asked him, who are you? I don’t know you at all, you have no right to chase me or control me at all, UNDERSTAND? You are just like a layman only. Do you know the regulations that any the chairman or committee cannot control the monks and the Nuns at all, also UNDERSTAND? I scolded him like that. Then the lawyer (YIP KUM FOOK) is not satisfy with me and he told me that he will called the police to come to the Temple and arrest me. I told him to go ahead and called the police to come and arrest me. I won’t run away, I said to him like that. I have done nothing wrong toward you, why you want to arrest me? He said, he doesn’t like me to stay here. I asked him, why? Again. After this he got very angry with me, then he phoned up to the police and the police came to the Temple and told me to leave the Temple. I told to the inspector of the again, 1 am sorry, I won’t leave the Temple because the chief monk had instructed me not to leave the Temple without his consent, UNDERSTAND? Then the inspector told me to leave, again. I told him I cannot leave the Temple because the Chief Monk hasn’t come back yet. This time, the inspector got very angry with me and he took out his handcuff and try to threaten me, then I immediately show off my hands for him to lock me up but he scare, then again, the inspector told me leave the Temple again but I still don’t want to leave the Temple. Then I phoned up to the chief monk again and I told him that the inspector insisted want to arrest me, you better come back to settle the case for me. After this incident, Chief Monk came back to the Temple and take me to go to another temple and stay their. That’s all about this incidents! Last of all, I would like to inform all of you, that no committees or the chairman can control all the monks and Nuns at all also UNDERSTAND? “They are higher than the King,” also! So how can the laymen, the committees and the chairman to control them: – EVEN THE KING ALSO RESPECTED THE MONKS AND NUNS. Why the chairman doesn’t respect the monks and nuns? They will carry the sins later on, UNDERSTAND? Yours in Dhamma Ven. Phra Piya Thammo Penang, Malaysia Tel: 04-48272710 report abuse
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1) Muslim Bumiputra 2) Non-Muslim Bumiputra 3) Non-Bumiputra ...........................................................Yes Potential Time Bomb
Votes: +16
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What type of nation the UMNO government building by DIVIDING the citizens into different classes* Dangerous????
Votes: +15
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 written by Terrorists in Malaysia , January 16, 2010
ARABRAHIM FAITH- What wrong using the Arabic Word "ALLAH" to GLORIFY GOD? I am sure HE will be angry if we use HIS name to KILL, DESTROY or IN VAIN. Is this so called 1 Malaysia policy? 1 Malaysia mean no racial or religious based POLICY or What...........
Votes: +16
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written by SoothuPutras , January 14, 2010
One of the main reasons why UMNO can sustain is the fact that many good Malays, the MCA and other coalitian members are remaining in the BN Pact. The main idea behind this pact has long gone. What was to be carried on with mutual trust and confidence is gone. UMNO had become a dictator with the other members having no say.
Votes: +20
I would suggest that MCA and other leave BN. That is the only way that there can be power sharing.If they dont Malaysia is headed for chaos.MCA should not be a bunch of cowards-sometimes money is not everything-stand by principles-have some Bs! report abuse
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written by Casual Observer , January 14, 2010
Had Malaysia not been richly endowed with seemingly endless flow of abundant resources, the wasteful spending ways of the UMNO-led government would have bankrupted the nation.
Votes: +10
Since the country has already gone to the dogs, what does it matter if there is outward flight of capital ? They can resurrect the past leaders to pull Malaysia out of the pit, failing which UMNO-led government can always invite SOROS or better still, their other Islamic brethrens to come to her rescue. report abuse
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written by Mat Kilau , January 14, 2010
Malaysians, Investors, Tourists and all others have lost confidence in Malaysia. The country has become fatally flawed.
Votes: +34
(a) the issue of citizenship remains unresolved.There are 1st class and 2nd class citizens in Malaysia-and you have a hybrid that allows people like Toyo an Indonesian immigrant to be promoted to Bumiputra status.Not all are equal. (b) The affirmative action is defacto racial discrimination against the non-Malays-that goes against all known human ideals and is a crime against humanity in the wide sense. Civilised countries dont like that and are unhappy to work with Malaysia-Segragation at schools breeds children who dont particularly like each other-leads to racial disintegration. (c) Every Democratic Institution has collapsed. The Attorney general is a civil servant and loyal to UMNO. The Judiciary is the same and both (AG) and the Courts are Judically dishonest and many corrupt!! Every Minister in the Najib cabinet and those who stayed on from Mahathir's cabinet is corrupt. the legislative bady is a rubber stamp.the Police and Anti-Corruption are corrupt.There is no impartial Institution that can openly talk about bad governancce in Malaysia. (d) Every Human Right is non existent-Freedom of Speech, Assembly, Religion is literally non-existent. Draconian legsilation protects the Government reather than the people. There is no environmental protection. malaysia does not have ONE Environmental plan-there is one for Sarawak /Sabah and another for Malaysia-which allows the raping of the forsets in lieu of Petroleum. (e) Finally the fact that there may be riots in the near future scares the devil out of many people.In May 13, 1969-the special forces-the Malay Regiment was unleashed to kill many non-Malays and consequently people are afraid.Till today there is no investigation and all matters are officially SECRET. (f) People like HISHAMH may be a few people who can give their opinion about capital flight because they may be privy to government records and an agent provecateur! Who knows?? Frankly many have left.That is why Najib keeps begging Malaysians to come back and seeks companies to invest. (g) Malaysia is a likely venue to breed terrorism because the UMNO policy is encourage Muslims to fight non-Muslims. From a clash between malays ( class war) it will become a race war-if not stopped by the government.Christans and Hindus are afraid to exercise their cosntitutional rights to pray, Mosques are demanding that Non Muslims not use the national language. Final analysis-Najib's government is fighting for survival and cannot change the state of affairs. Chnage can come unless, Najib resigns and someone like Anwar Ibrahim takes over or even Zaid Ibrahim ( the former Minister of Law who resigned because of some of the above reasons) and was sacked by UMNO for seeking human rights for all malaysians! report abuse
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Guess what? There wasn't a drop in reserves in 2009, Lowly rated comment [Show]
written by Mongo , January 12, 2010
I hope that she learns about Human Rights! Its the right not to be discriminated.While she is in the USA- a Thousand children cant get a better education in Malaysia or stuck in the paraiah Malaysin University! I thought all over the world.I cannot belive that a course in Human Rights is TABOO in Malaysia.
Votes: +23
Must ask Marina mahathir whether he former French husband is involved with Najibs making millions for the purchase ofsubmarines.Do we have the submarines still??? Maybe we can sell for scrap. report abuse
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written by Exodus , January 12, 2010
Things haven’t changed. Every law protects an oppressive government-every political appointment was corrupted because it was necessary to stay in power. It is the poor that is suffering in Malaysia. It will be the next Yemen. I hope that the EU and USA look closely to what Anwar Ibrahim suggested in his speeches that-to have a hard look at Malaysia lest Indonesia falls to fundamentalism because of the Malaysian Government to stay in power although they don’t have the support! Yemen or Zimbabwe is what Malaysia will be in 2020. It needs to be rollbacked!
Votes: +12
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written by Exodus , January 12, 2010
Najib, who wants to stay in Malaysia? Welcome to the USA and see how many Malays are living in here, their children having a class university education-Ask Najib Tun Razak? You cant solve Malaysians problems-you are in Mahathir’s Black Book. I suggest that you deregister UMNO and leave to face the music. Malaysians of all faith have enough of UMNO. Don’t breed terrorism.
Votes: +26
Failed Bomb attacks against Christians in Malaysia make Marina Mahathir article about Islam interesting but not relevant. The issue is NOT whether Allah means God and vice versa- the issues is whether the Herald can exercise its constitutional right in a so called Democracy to use the national language. The Constitution provides for freedom of religion and Bahasa Malaysia, the national language. Since the 1970 the Malaysian Malay government has demanded that everyone use the National Language. In 1970, such a policy created an educational genocide on the non-Malays. Today because of the policy, many non-Malays speak perfect Malay hence the necessity to use the national language in the Bibles. Anyway is trite that Allah means God-even in Egypt, Syria and Indonesia the largest Muslim nation in the world. By preventing the Herald from using the word UMNO is in breach of the Constitution. The Rule of Law trumps sensitivities. But we can’t blame Mahathir (looking at his 22 years record) -he never believed in the rule of law, clean judiciary, transparency or good governance. He is a dishonest man. Tengku Abdul Rahman, Hussein Onn and Tengku Razaleigh have said so without reservation! The Najib Razak Government selects a Chinese (Non-Malay) judge to decide the Muslim issue, which she did correctly. But why did the government choose a Chinese Judge? This was a political decision. The drama will unfold when the Malay Appellate court will reverse it as champions for the Malays/Muslims. This is yet another threat to non-Malay, non-Muslims in Malaysia that they are second class citizens in apartheid Malaysia. So much for 1 Malaysia! report abuse
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written by Exodus , January 12, 2010
The bombing of churches is n an ACT of TERRORISM clearly orchestrated by the government. If you were to look at the policy of Malaysia after Mahathir took over –it was clearly one of segregation coupled with violent threats by Mahathir and his cronies including Hishamuddin cousin of Najib when he was Minister of Education. I think no right thinking Malaysian thinks otherwise. This is a serious allegation and matter. Bombing a public place for political reasons is an “act of terrorism”. It is a crime. UMNO has had a history of threatening other races and religions! The Malay government has become so arrogant that they desecrated the Hindu religion and now proceeds to attack the Christians. The attack against Hindus was also orchestrated by the Government because the Indians were seeking political and economic rights. The Malaysian government will allow this crime to go unpunished.
Votes: +21
Recently a Jordanian doctor, Humam Khalil Abu-Mulai al-Balawi became an al-Qaeda operative murdering Americans in Khost, Afghanistan. The other the “underwear bomber” from Nigeria-Umar Farouk Abdulmutallab, President Of the Islamic Society of University College London- a mechanical Engineering student from the University of London. Kafeel Ahmad, who died after driving a burning jeep in the concourse of a Glasgow airport, has been President of the Islamic Society of Queen’s University, Belfast.Yassin Nassari, serving three years in jail for terrorism was President of the Islamic society of the University of Westminster. Waheed Arafat Khan, arrested in the 2006 Heathrow terror plots was President of the Islamic Society of Metropolitan University. These Jihad Jockeys hoped to have 72 virgins when they martyr and go to heaven. This is what Malaysia will face with the many unemployed Malay, Muslim individuals who are angry with UMNO-hence their support for Anwar Ibrahim with very little success at the grass root level. Bumiputra without work! They are called the Mat Rempit (Wikipedia) –there are 200,000 Mat Rempits in Malaysia- they are Muslim Malays/Bumiputras discontented with the government (UMNO), they are mostly unemployed and a sub-culture rebellious against society. IGP Musa Hassan in 2009 said that “they are involved in robberies, snatch thieves and attacking innocent citizens”. The numbers are growing. Terrorism is brewing in Malaysia-thanks to UMNO and the Malaysian government. report abuse
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written by Exodus , January 12, 2010
As regards Marina, Credibility is suspect simply because the seed does not fall far from the tree, maybe not through fault if her own but unfortunately having a father who has hurt Malaysians so badly to stay in power for his ego.. Until she admits her fathers wrong doings which will be his legacy even after his death-she cannot be trusted! I am sorry but I am the simple man who rode the Taiping Omnibus and did not acquire millions as a civil servant. My father was the same and I tell my grand children to leave Malaysia because they can’t attend Malay College or Mara because they are Christians. I thought apartheid and segregation in schools had died a natural death but obviously it lives in Malaysia. And lives strongly with the Devil!
Votes: +32
Marina’s father Mahathir Mohamed destroyed Malaysia. He was the WORST Prime Minster Malaysia had and I am sure Hussein Onn will be rolling in his grave! The breakdown of race and religious relations in Malaysia was not by chance but a device used by Mahathir to be in power. He divided Malaysian with his cronies MCA especially as MIC was already not relevant! His legacy in Malaysia includes the introduction of corruption as a device to stay in power. Today Mahathir demands good governance, transparency from Hassan Merican of Petronas and talks about anti-corruption. I want to laugh. If Marina playing the same game?? Every Institution in Malaysia that protects democracy and respect for the Constitution was dismantled and desecrated. The Cabinet, Courts, Police and Anti-Corruption are corrupted-The Indonesians are killing Malaysians everyday-thanks to the policy of increasing the Malay population. Even Malays are not spared! There is no security. Cabinet ministers are given money lending licenses! Rafidah and Nazri became millionaires by stealing Bumiputra shares and licences! Such is the state of Malaysian politics. Even a request to have inter-faith dialogue like Saudi Arabia does was shot down by UMNO terrorists! Nothing was spared by the Mahathir Regime whose baton was carried by Badawi and now Najib Tun Razak. report abuse
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written by Exodus , January 12, 2010
Malaysia “…is neither a functioning democracy nor a functioning dictatorship but a tottering state structure controlled and exploited by PARASITES. You can call them VAMPIRE PARASITES!” the Parasites are Mahathir, Badawi and Najib Tun Razak-Malaysia lost the likes of Tengku Abdul Rahman a long time ago.
Votes: +15
The bombing of Three (3) Christian churches was instigated by the Malaysian government supporting terrorist means. The government includes many parties in its coalition but one stands out as a terrorist movement which politically motivates the ABUSE OF RELIGION to stay in power. That organization is called UMNO. It once stood for all Malaysians but now it’s been high jacked and has become a racist party. The European Union and the United States must now see that whilst the highest leader of the Muslim Party which is in opposition is supports the court decision, the Malaysian Government through Najib is allowing Mosques to be breeding grounds for likely terrorists. Infact, the government readily supports what would normally be an unlawful assembly! The government is worried about the desire of the Malaysian people who want full disclosure on the murder of the Mongolian citizen in Malaysia, the corrupt monies paid to Najib and his friend in the purchase of submarines-the loss according to Mahathir now since 1980 till now of 350 Billion Ringgit! And the list goes on- the BOMBING of the Churches is now to deflect the many issues UMNO and all the MEMBERS of the MALAYSIAN CABINET have to answer and trigger racial; riots to bring the Malay class together in the form of a Jihad. Plain truth is that the Malaysian government and UMNO have been lying to the Malay public and cheating its own people and now requires action in praise of ALLAH! In colonial times, power was used to control the country rather than introduce liberal standards in the rule of law. The same thing is happening in Malaysia now. Nothing has changed since the 1950s! If Christians wanted to protest within the Church compound, they would be arrested under the Internal Security Act. But that will not apply at the Mosques which recently have been generating anger and violence against the other religions in Malaysia. This will be the breeding ground for Muslim fundamentalism. UMNO is a Terrorist organization if not now ….soon. The government in Malaysia is supporting this. I hope the world does not make the same mistake and let it became like Pakistan. Many Indian Muslims run Malaysia. In 1947, the British forced the Indians to give Pakistan their own country-but till today report abuse
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The tripe that we allow ourselves to call "Journalism", Lowly rated comment [Show]
The future of Malaysia is bleak and abysmal with 1.5millions people left the country over the period measured. Every day I hear people either leaving or waiting to leave the country all for self-preservation and selfish reasons. Of course, when people leave, they took their savings with them unless people, are willing to sacrifice and suffer for their country for common good. All are short-sighted and angry with the bureaucracy, ignorance, inadequatcy and incompetent with the proud, stubborn and tone-deaf government not prepared to listen to the people. The government is disabled by voices of corrupt and greedy politicians, people and workers in Parliament. Powers and resources of the country ignorantly and incompetently misused and abused.
Votes: +17
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Just saw an article today about how China is going to get more serious about catching and prosecuting government officials who run off with large sums of money. If we had a government that was worth anything it'd do the same. http://www.todayonline.com/Wor...-then-fled
Votes: +8
And where is the vaunted "K-economy"? Why are we still relying on oil from rocks and oil from trees to prop us up? You can't have an economy that runs on "knowledge" if you don't allow a workable environment to the engineers and scientists who have it. report abuse
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capital control, Lowly rated comment [Show]
..., Lowly rated comment [Show]
written by Lang Cheow San , January 11, 2010
UMNO major leaders have property and moneu outside the country. Remember the former MB of Selangor ( Cabinet Minister) Talib -arrested in Australia-was on a shopping spree for houses in Australia. Goodbye Oil welcome Poverty!!
Votes: +33
Chinaman have their children educated overseas and buy their properties ther, getting their PR for kids and of course moving business to Australia, NZ, and the USA. UMNO grassroots will be sitting on coconut trees eating nasi lemah while Nazri and Rafidah will be enjoing steaks in Perth, NY or London!! UMNO bombers will graduate to the Bali Bombers! Who dares come to Malaysia??? Dangerous country! report abuse
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written by anak malaysia , January 11, 2010
What can you expect from a stupid and primitive UMNO with their cronies in MCA and MIC? The malays have shown that they cannot govern. It is time they give up and pass the baton to the non Malays. The Malays were given the chance for 50 years. All they can show for it is a mess. It is time for the bail out by the Chinese(again). The first time was by Admiral Cheng Ho. It is a lesson for the world. Don't let yourself be governed by stupid people.
Votes: +37
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A major part of capital outflow is caused by the politicians.
Votes: +30
They are transferring money out of the country in alarming rate. report abuse
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What does being chinese or malay change the fairness or unfairness of poverty?
The uneven distribution of wealth is between SOCIAL CLASSES. It just so happens that more Malays fall into the lower economic class than the chinese. How does targeting the chinese solve anything? The NEP only helps the RICH malays. That is why the gap between the rich Malays and the poor malays is so large. You basically need money and good education in the first place to fully exploit the NEP. I don't see the rich malays stepping up to say that the NEP should only apply to poor malays. I don't see the rich malays admitting that they don't need the help and so they will forgo any government help so that the resources can be spent on ppl that need it. No, they suck it all up for themselves. And ppl like you get sucked in to their propaganda about how it's a racial thing. FFS it's a pure social class issue.
The UMNOputras don't want people like you to realise that it is anything but a racial issue. If it is a racial issue, then you'd target EVERYONE ELSE BUT THEM. You are an idiot if you can't see this. If the people will just stop taking the wealth distribution issue as a racial thing then we can start taking PROPER economic measures to curb the problem. As it is, the government is just driving talent away and curbing growth just to remain in power. You idiot.
You racist idiot. You are a hypocritical ftard that needs to reevaluate his own logic. Are you so stupid that you can only generalise everything? You idiot. People like you will feel utterly stupid when you wake up one day. You idiot.