From Pre-Independence to Present: A Journey Through Malaysia’s Economic Evolution and the Western Capitalist Influence

I was born before Malaysia achieved its independence. I have witnessed firsthand the transition from colonial rule to independence, and now, I see signs of a return to subtle forms of external control. This is a reflection of my experiences in education, career, and the shifts in global business dynamics.

Education and Early Career

I was fortunate to receive an English education, which paved the way for my university studies and subsequent career in the financial industry, specifically in insurance. In the 1970s, when I began my career, the insurance industry was predominantly international and highly globalised. At that time, most of the senior positions in local insurance companies were held by expatriates, predominantly Westerners.

I started working with a British company, specialising in consultancy. This company, with its global presence and extensive services, represented the epitome of international business at that time. The major Malaysian companies involved in international business back then included:

• Malaysian Airlines (MAS)
• Malaysian International Shipping Corporation (MISC)
• Petronas
• Malaysian Liquified Natural Gas (MLNG)

These were among the largest companies, and they were also our clients. Other significant players were companies from Europe and the US.

The Shift to American Dominance

Over time, I observed a significant shift. One by one, major British and European companies were acquired by American giants through mergers and acquisitions (M&A). By the late 1980s, the top five global financial companies were American. When the largest British company became American-owned, it transformed into the world’s largest global company. This marked the beginning of a new era where American corporations began acquiring other global firms.

These American giants had experts in every field, from nuclear technology to aerospace, from petroleum to politics and military affairs. Their offices spanned the globe, creating a network with New York as their headquarters. My new bosses were Jewish Americans, and they significantly increased my salary because they saw the strategic importance of a Malay person for business with Malaysian government-linked companies (GLCs).

Training in the Capitalist Mindset

Working with these companies, I was trained to think big and global. The American dream, with its capitalist and imperialist mindset, was instilled in me. I learned that:

• Finance is not a barrier.
• Distance is not a barrier; today in Malaysia, tomorrow in the UK or US.
• The end justifies the means.

These principles of capitalist imperialism became evident as American companies dominated, acquiring major firms in Asia, Africa, and Australia. The audit firms like Price Waterhouse Coopers (PWC) and Arthur Andersen also grew into global giants. The US hegemony led to the decline of British and European power, and Japan’s imperial ambitions in politics, military, and economy were also overshadowed.

Post-Retirement and Activism

Upon retiring at 63, I became involved in activism, engaging with NGOs, the government, and Malay politics. Here, I began to understand the socio-political and economic challenges faced by the Malay community. Despite independence, many Malays are still mentally shackled by colonial policies designed to decolonise only to recolonise.

The Legacy of Colonialism

The British and other Western powers planned the post-World War II world order, using institutions like the United Nations to maintain their influence. They negotiated independence with Malay rulers, ensuring that the new Malaysian state would continue to serve their interests through:

• Democracy
• Free markets
• Capitalism

These systems were designed to keep Malays tied to feudalism, divide and rule tactics, and a socio-economic structure that favored foreign and Chinese businesses over the indigenous Malays. This structure persists today, with Malays often focused on the monarchy, religion, language, and customs, while Chinese communities dominate business and finance.

Awakening and Moving Forward

How do we awaken the Malay community to break free from these mental shackles and move towards true independence? It starts with understanding our history and the ongoing imperialist strategies. The current geopolitical climate, with US proxy wars in the Middle East, Asia, and beyond, highlights the persistence of these tactics.

Reflection and Call to Action

God created us from a competitive process, but many forget this origin and fail to strive at their full potential. Our brains, the most sophisticated creation, and our hearts, the hardest-working organs, are underutilised. The same applies to our communities and nations.

For each problem—whether it is faith, health, mindset, or work ethic—there are experts with knowledge and experience. The challenge is willingness to listen, learn, and act. Just as we have strived to reach our current level, we must continue striving and working hard.

By reflecting on our journey and learning from history, we can understand why some fail and others succeed. It is crucial to foster a sense of awareness and resilience in the Malay community to break free from the lingering effects of colonialism and to achieve true independence and prosperity.