Emeritus professor Terence Gomez explains that Malaysia’s systemic corruption stems from the “great monetisation” of politics, where political elites use the government-linked firms ecosystem and corporate patronage to secure funding and maintain power.
He argues that reform has stalled because the current government continues to use the same patronage-based playbook, failing to decouple political influence from the economy or to truly empower small and medium enterprises.
Ultimately, Gomez suggests that the nation’s economic challenges, including its middle-income trap, are perpetuated by the misuse of affirmative action policies and a lack of political will to dismantle a dysfunctional, state-controlled business environment.
Produced by: The Gut Shot Podcast
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