UMNO's Corporate Cornucopia

(We are rerunning this article from Oct. 13, 2010 as a companion piece to Murray Hunter’s adjoining article to give specifics of exactly how rent-seeking and institutional corruption eventually enveloped the economy.) In the 1980s and 1990s, Halim Saad and Tajudin Ramli were two of Malaysia’s brightest stars, picked by former Prime Minister Mahathir Mohamad to lead the country’s ethnic Malays onto the national stage as exemplars of a new Bumiputera business culture that would catch up with the ethnic Chinese who had dominated commerce as long as Malaysia had been in existence.

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