Navigating Global Currents: Challenges and Opportunities for Malaysia’s Future

In the rapidly evolving era of globalisation, we, as the Malay race and citizens of Malaysia, find ourselves at a critical crossroads. Our future, the future of our children, and that of our nation must align with the global dynamics currently unfolding. Whether we like it or not, the currents of the future are not something we can choose, rather, they are something we must acknowledge and adapt to if we wish to stay afloat and relevant.

One of the greatest challenges we face is economic. As a small country and race, we lack the scale to dictate global trends. Instead, we must learn to be flexible, to adjust and thrive in the niches where we can excel. When we look at small, successful countries, we see a common thread, they have mastered the art of competing in specialised areas rather than trying to dominate on a grand scale. These nations have understood the necessity of thinking beyond their borders, with the majority of their wealth generated in the global market.

Take, for instance, the Netherlands, which, despite its small size, is one of the top investors in the United States. Or Switzerland, home to the largest food company in the world, yet with most of its raw materials, companies, and human capital located outside its borders. These examples show that with the right mindset and strategy, small nations can achieve remarkable economic success.

In contrast, Malaysia’s experience has been somewhat different. We sold Goodyear to Indonesia, despite being a major rubber producer ourselves. Perhaps it’s time we considered producing abroad while importing our own raw materials. Such strategic thinking is essential if we are to compete in the new global economy.

China’s involvement in Malaysia’s durian industry, particularly in the cultivation of Musang King in Malay states, is another example of how external forces are shaping our economy. This is the reality of the new capitalism, wealth creation and control through monetisation, securitisation, and digitalisation. The world’s billionaires have mastered these tools, using them to dominate global markets and amass fortunes. In doing so, they have turned these financial instruments into political weapons, controlling the global economy and, by extension, influencing our own.

This new form of colonialism does not rely on military might but on economic power. They use our people as chairmen, CEOs, and employees, leveraging our land, assets, laws, banks, and government to tap into our market. In this system, we become the workers, while they reap the benefits, growing richer not just globally, but within our own borders.

To secure our future, particularly for the Malay community and Malaysia as a whole, we must focus on three key areas:

1. Political Stability: Ensuring that the Malay majority holds a strong and stable political position.
2. Economic Leadership: By 2050, Malays must lead in economic participation and ownership, ensuring social justice and equity.
3. Wealth and Asset Ownership: The largest share of wealth and assets must be in the hands of Malays, ensuring fairness and equality.

The global currents are here, and they are powerful. To navigate them successfully, we must be creative, innovative, strategically fit, and above all, flexible. We must embrace the opportunities that come with these challenges, ensuring that we remain not just relevant, but leaders in the world of tomorrow.