Malaysian citizen really need to change their perception toward "B40 Factory Jobs" or blue collar work in general. We are still a long way before becoming developed so we need to take every opportunity we can get as they are hard to come by. Those factory jobs that Malaysian despise and let foreigners do are the backbone of an economy, they helped every developed countries in the world become what it is today. US, China, South Korea, Japan, Taiwan, Germany, France you named it, the majority of their citizens are blue collar workers during their respective industrialization phase before transitioning into a service based economy when most of their citizens become wealthy and educated enough. Malaysia is stuck in the upper middle income trap, desperately need an industrial base, and her citizens are not educated or wealthy enough for an entirely service based economy. Many are becoming B40, and M40 is arguably closer to B40 than T20. The government need to shed the perception that blue collar work is for uneducated low skill kulis, and treat them equally as how nation in the west treat their blue collar worker!
Weak ringgit is no good for the Rakyat. You save for many years for your children to go overseas to study or to go for haj. And when you need to money to do it, you realise that the money you saved is not enough due to weak Ringgit exchange rate.
1. OPR does not directly affect the currency exchange. It affects the borrowing and lending rate, esp production lending rate that is affecting the currency. 2. SGD is moving away from USD backing, buy going back to gold standard. Whereas MY still relies of USD-backed. USD exchange with Bath, & MYR, Rupiah, all increase. But none hike as much a MYR when we compare with same period last year. 3. Weak exchange is a sign of bad economy. Even for domestic product, they will need to depend on foreign material, which primarily traded in USD. Massimo's machine are manufactured in Germany, or China. Its flour comes from Ukraine, its foreign worker, butter, testing equipment, the lorry that transport the bread, the tyre, etc. Their price will increase, and the increase in OPEX will be transferred to the final product in the form of price increase.
I think not giving because i don't wsnt my kindness missused. It nake me feels stupid. Too sad this happened. But nowadsys i don't really give out, because this will boost the situation in Malaysia.
6:22 Lucas mentioned "locally produced". This is true, IF, the related factories are already operating in Msia. Do we have steel foundry capable of producing engine block? If not, then we need to build it. Where is the capital coming from? Where do the equipment came from? In a supply chain, how many material can we locally produced, realistically? Take bread as an example, we have water, flour, salt, milk, butter, sugar, fuel, machine for making bread including parts that needed repair, worker, transportation (trucks, fork lift, etc). How many of it, realistically can be locally produced? Can our local economy produce enough milk for the entire market? to make ice cream, milk, milk powder, cheese, bread, cakes, yogurt, etc? And u have million of item across the economy, how would a gov. bodies able to keep track of all of it? Even old USSR cant do it.
Don't look at Singapore with Rose tinted glasses. Our inflation is more than 50% . Our spending power is halved. This is the same as singapore dollar depreciating by 50%. Worse than malaysia.
