In addition, Prime Minister Najib will face tough opposition from ethnic-Malaysian hardliners, reports Hookway.
Currently, the goal of Malaysia’s system of racial preference is to have ethnic-Malaysians make up 30% of the economy. Data shows that ethnic-Malaysians control about 19%.
History doesn’t reflect well on Najib’s team. The “14-month old government had previously U-turned on its decision to raise fuel and electricity prices, and delayed implementation of a goods and services tax after a public outcry.”
Resource-rich Malaysia has a shot at becoming a darling once more. But until it straightens out its problems, growth will be hampered. [Is 2010 the Year of Malaysia?]
For more stories on Malaysia, visit our Malaysia category.
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Sumin Kim contributed to this article.