Below is Anwar Ibrahim's reply to questions on Mahathir's cancellation
of Chinese projects while he was in Hong Kong attending a forum.
'Mahathir has made waves pushing back on Chinese investment, warning Beijing against ‘new colonialism.’ Should buyers beware?
Clearly what he meant was any form of neo-colonialism
and imperialism will not be tolerated. I think most of us share that
view. [The concerns are] tied to some of the cancellations of massive
development contracts. This is partly due to the stark realities we have
to face. We can’t afford a mammoth, 55 billion Ringgit ($13 billion)
project now. And secondly, there were issues raised about these dubious
deals made with Chinese companies. I think we have every right to
reevaluate and reassess these projects, not only with China, but with
all countries.
Below is Anwar Ibrahim's reply to questions on Mahathir's cancellation of Chinese projects while he was in Hong Kong attending a forum. ' Time
What were so dubious about these projects? The projects themselves were dubious, useless? Or were they too costly? How many infrastructure projects are cheap and good and not built with cost recoverable over long term, like the North South Highway or the Crooked Bridge?
Or were the projects dubious because the people approving it were dubious? Or were the money flow dubious? I make a qualification here. The 'dubious' project thing is not from Anwar. He is just parroting it as it is the right thing to do at the moment. He cannot go against whoever started this nonsense.
What is so dubious about these projects that one day they are useless but another day they are useful, one day cancelled and another day ok to build? Or the projects were dubious because dubious people insisted to call them dubious for their personal dubious reasons?
The projects were approved by heads of govt and even the heads of states like the sultans. Are these people dubious? Are these people stupid, traitors to their own country to approve these so called 'dubious' mega projects? By branding these projects as dubious, it is as good as saying all those people that approved these projects are dubious, stupid and traitors to Malaysia, or corrupt leaders with their hands grabbing money from these projects. Is this the case? Is this the accusation?
Najib is in no position to make his case on why he approved all these projects. But there are other leaders and sultans involved. Were they given a chance to state their case or is it a case of power rules and the one in power decides to call anything dubious according to his fancy?
One word, 'dubious' has discredited and tarred the integrity and credibility of many Malaysian leaders, or at least saying that they are all fools, not knowing what they approved and were causing harm to Malaysia. Would Mahathir be prosecuting all those involved in negotiating, signing and approving these projects since they are 'dubious' for crimes against the state?
Rb this dude is dubious lar knn he was known as the 10% man long time ago keh
ReplyDeleteDr M has insinuated that the deals Najib struck with China might not be above board. Subsequently he has certain projects put on hold. The excuses given are red herrings. Melaka Megaport project is on. HSR to Singapore is off. It doesn't take a rocket scientist to suspect that Dr M has something against the PAP government. China was used to camouflage his real motive. Anwar is presently not empowered to make any contradiction. He has to watch his steps.
ReplyDeleteThis comment has been removed by the author.
ReplyDelete@ Dr Mat & his merry band of Bumi xenophobes:
ReplyDeleteChina and its spectacular economic rise and on-going success (despite the present "hiccups") is a real world example of "The Downside of being just TOO DAMN GOOD at what you do".
Most obviously---in the cases of Trump and Mahathir---they view China's mastery at playing "The Capitalist Game" (a communist cuntry giving the world a lesson in capitalism---how to make lots of money, grow and keep it...what an upside down world ๐) as a serious threat to their respective nation's sovereignty, security and independence.
There is no denying that China has massive productive capacity...but this appears to be turning into an Archilles Heel due to the shaky nature of the world's finances.
Any trade war or disruption which causes a DROP in demand for China's production is potentially dangerous. Trump is expected to make a decision today (Monday, 17/09/18) about the proposed $200 billion in tariffs (a "fine" for success). That would reduce demand for China goods.
China is in the process of changing its manufacturing-centered economy into more mixed one with the development of value-added services. Labour is no longer "cheap" and so those manufacturing areas which depended on cheap labour will gradually fade out.
China's OBOR does not only promote economic benefits, and will increase China's influence on the world, but is NECESSARY because it "soaks up" all that massive OVER CAPACITY China has. OBOR uses China cement, China steel, cabling and electrics, etc...and of course Chinese labour. This is a BRILLIANT move on the part of China.
Of course the most obvious "knock on effect" is that not all leaders of the cuntries on the OBOR map are keen in signing away parts of their cuntries to China, nor taking China's money-loans given on extremely favourable terms.
Dr M happens to be one of such leaders.
Moral of story: If you become too good at something, not everyone will share the joy of your success. There will be those who dislike and distrust you, and view you as a "threat"---a hungry monster, hell-bent on devouring anything and everything it can.
A fine is a TAX for being bad
A tax is a FINE for being good
Fuck the governments. All of them.๐ค
Amy mega project where big money flows from one hand to the next, next and next, there is profits to be made. Profits cannot be naively be only made by the contractors who do the jobs. There are middlemen involved. Such middlemen also need profits to cover their expenses and cost of living. This is common sense.
ReplyDeleteNow, if I am the new CEO of an organisation who just take over the new projects initiated by the previous incumbent, I will have to do all the shit works and not get any benefits. Do you think I am so stupid? Nobody will be that stupid.
@ Dr M's bad math:
ReplyDeleteDr M has several bones to pick---with Najib and his UMNO co-conspirators, the PAP for being complicit in Najib's rape of Malaysia's finances, and China for its apparent aspirations to "global economic imperialism"...for an old guy, boy does he like to pick fights.๐. All of them over MONEY too...Impressive no?
Dr M thinks that a a few Chinese mega projects in Malaysia will bring Malaysia to bend the knee to China. He is bad at math.
The Chinese have projects---big and small---all over the fucking world. They also have the most effective state-sponsored hacking and surveillance groups---spying on their own citizens and anything else they can gather data or steal IP from. The Chinese govt has the means to influence opinion on social media, they've been caught "incentivisng" state officials in cuntries they're interested in....every manner of chicanery, social engineering, tactical and strategic manipulation on every level...they do all that stuff and more.
WHY?
Because China is long-term mission driven, and they don't respect the rules---rules "made up" by other cuntries who DO NOT have China's interests at heart.
The fucking Americans have decided that they're special enough to "go at it alone", and also do hacking and surveillance and violent bullshit....so why not China? They can also play their own game, make up their own rules if they so choose. They're a big cuntry, and they have the money, skills and massive capacity.
The few mega projects in Malaysia are really "kacang puteh" at the end of the day. Mahathir's childish nature isn't going to affect China's onslaught, and yes, there is a good chance they will DOMINATE the world, and as a result be the new imperialist. Personally, I don't have a problem with that. They like making money and are great at it.
They might "colonise" a few cuntries along the way but so what? Wherever they go they pump massive amounts of money into said cuntries...and wealth is created.
Sure beats having the shit bombed out of you by the United State's military. Not all colonialism or imperialism is "bad".
This comment has been removed by the author.
ReplyDelete
ReplyDeleteBasically, whether it is revealed or not, IMO Mahathir wants a certain % "commission" for his efforts and those of his underlings who will have to carry the babies Anwar also needs a piece of the cake to distribute to his kakis for works to be done. Simple as that.
However, the cake has already been divided amongst Najib's Gang of Four. So, China is not going to cough out more. Therefore, the projects are now sabotaged. It is all about money. No money no contracts. Politics happens behund the scenes. Political hacks are power-and-money hacks. Period.
Matilah, you have jumped ahead of my article on a world without China or the USA.
ReplyDeleteWill post it maybe tomorrow.
The dubious part is who & how companies (and sub-sub-companies) got the various contracts for the projects.
ReplyDeleteS'pore also has this problem but on smaller scale i.e. many companies & sub-contractors winning govt tenders are either govt-linked or have many PAPpy party members on the board or in senior mgmt.
But S'pore smarter --- everything done according to letter of the law.
As for US-China trade war, China is really on losing end. US has sufficiently large internal market for most US companies to carry on. But majority of Chinese companies will go belly up (or at least mothballed) if international trade dries up.
US can suffer another -50% stock market decline & short-term recession --- no big deal. But if that happens, China will suffer -90% stock decline & will have a 10-year economic depression. Even with easy money policies & trillions of dollars being thrown around, China's stocks still haven't recovered from 2007 --- that's 11 years already.
Even for large CCP-owned/controlled infrastructure companies and banks, they REALLY need OBOR in order to avoid being mothballed i.e. downsizing to shell companies thru massive retrenchments & deleveraging. That's why majority of OBOR contracts stipulate the awarding to Chinese companies & use of loans from Chinese banks.
OBOR is really meant to avoid social unrest in China's infrastructure industries and to a lesser extent in its banking industry, apart from securing interests/ownership in overseas strategic resources.
That is only one perspective without detailed facts.
ReplyDeleteEven with detailed facts available for comparison, this trade war is a complex, not a simple straight forward, issue.
Crystal-Balling is not an Exact Science. Most of the time, it is guess-works dependent upon personal limitations to knowledge and data, personal bias and propaganda.
Whether it is going to be US or China winning the trade war, it is too early to assess. But one thing is certain, the citizens of both countries, and the rest of the world as well, will be the losers! Only the bankers and lawyers will be the winners.
Crazy Rigged Asians need a MadJohnny England~Mohamad to get rid of those dubious projek..Adir Wa diam diam kawan SinkiesLang when he become PeeMat first , he told Kawan Encik Goh langpeesan..ah duayii..
ReplyDeleteDr M used to be a vociferous critic of the decadent West. He pledged to review and renegotiate contracts awarded by Najib to the Chinese. Dr M's anti-Chinese rhetoric had backfired. He returned home from China empty-handed. He failed to realise that China would not brook any hostile antics from any nation, much less a small country like Malaysia. Anwar is now doing damage control. He has to convince China that Malaysia is not anti-China.
ReplyDeleteAnon 11:28am,
ReplyDelete300m market bigger or 1.4b market bigger?
Give you a clue, 2 is bigger than 1. Billion is bigger than million.
Every big country is dangerous and threatening. Thats the nature. Not surprising.
ReplyDeleteWhether it is Mahathir or Anwar at the helm, Malaysia had better not play hardball with China. If the projects are cancelled, who will be the loser? China or Malaysia?
ReplyDeleteChina has 4 other alternatives. It does not necessarily go through Malaysia to establish the OBOR.
@anon 1.47pm
ReplyDelete..U r rite. China no need Matland to survive or keep its economy running. China may miss Matland Musang D24 durians but they get Tailang durians ok liao la. As for Sinkieland, China no need any of their services even the film Crazy Rich Asians also under scrutiny by China whether to go ahead or not la..
@anon 4.36pm
ReplyDelete..U r rite. The emperor is one clown without clothes nicknamed Xiao Lang Li, most A-xian nations avoided these Ah Xiao like they never follow lo better.
Developers in Singapore sold 616 private homes last month, making for a 64.3% fall from the 1,724 units they sold in August, and a 50.6% drop from the 1,246 units sold in August 2017.
ReplyDelete@ b
ReplyDeleteIf you're big and powerful. You will be naturally inclined to dominate. You have to...or very soon you won't be big anymore. You always have to fight the next big guy, because he will also want a piece of you. All ape species---of which we are one---are social species, which means they divide into groups and from those groups emerge the "alphas" (usually male), then those groups compete for resources, or sometimes cooperate to take on other groups.
@ all
Literally, Anything Goes---morality, optional When it come to human nature, anything goes---whether you like it or not. Humans respond to incentives, and what might appear to be: opportunities to profit, especially when the costs are low. Humans are capable of doing awesome things---good and bad. When they do either, there are often "unintended consequences" which can be beneficial or harmful, or both. These "unexpected side-effects" themselves influence human behaviour, which have more unintended consequences...so very soon the whole thing becomes a huge stinky mess, and wildly unpredictable. All this caused by mobs of scared and greedy apes resorting to all manner of "strategies" which they think will help them "win".
And so...RENT SEEKING BEHAVIOUR. Whenever there is , let's say, a big multi billion dollar project, humans are drawn to such potential opportunity for personal gain just like flies are to a fresh pile of steaming, smelly shit. China comes into a shithole cuntry---e.g. Shitholestan---with truck loads of CASH and proposals for infrastructure...which they will help build and fund...for of course "something in return". The government and business sector of Shitholestan can't believe their luck, and everyone gets GREEDY, which means their judgement is impaired. (actually the FACT that they are shitholes cuntries might suggest that "those people" are already fucked in the head...๐ค)
"Rent Seeking" is when organisations or individuals engage in profit-driven activities but not blowing their resources to "win", and not create any value. Rent seeking can take many forms, the 2 most common are lobbying and out-and-out direct BRIBERY.
Let's face it...if you are bidding for a multibillion dollar contract, and have to "fight" against several other contenders, plus spend several million on presentations, research etc etc to have a chance at bidding...it might be CHEAPER and more EFFECTIVE to just BRIBE the top 2 political leaders in the Shitholestan, who will then "award" you the contract and tell your competition to pack up and get the fuck out.
Or the govt might create "commissions" or "boards" which every private business tender has to go through to get with the Chinese. This opens up even more opportunity for rent-seeking, and of course bribery.
China of course, is no stranger to business and the "dirty tricks" businesses gets up to (regardless of culture or ethnicity)...so they will expect such "dynamics" to occur...and probably sit back and enjoy being entertained by Shitholestanese running around stabbing each other in the back, whilst colluding with others...China is providing the money, so they may as well get a few fucking laughs out of it. ๐
Mahathir, IMO is in "tarek harga" mode. He's the new boss. He has to "show colours"...so refuse to honour any deals made by the old boss. All China has to do is to cool it off for awhile, and then propose a "re-negotiation". Anyway, a project like OBOR has longer lifespan than anyone alive today...and Dr M is already way past his "due date". Just because China's been canned from a deal now, doesn't mean that it will be the case forever. Everyone has "buttons". Find the right ones.
The crooked bridge must be the most dubious project. Little wonder it was abandoned. Now, who was it who gave the go ahead?
ReplyDeleteNeedles Inside Strawberries
ReplyDeleteSingapore's strawberries are mainly imported from Australia.
Australia has ordered an investigation into the discovery of sewing needles hidden in strawberries, amid growing alarm over scares across the country.
Contaminated punnets have now been reported in 6 States and Territories.
A minister called it a "vicious crime".
One man was taken to hospital after eating a strawberry that held a needle.
Several brands have been recalled, while New Zealand's biggest grocers have stopped selling Australian strawberries as a precaution.
Australian Health Minister Greg Hunt ordered the Food Safety Authority of Australia and New Zealand to investigate the scare.
@anon 207
ReplyDeleteYes, unfortunately "food terrorism".
When the person (s) is/ are caught and jailed, their life will be hell inside. http://bit.ly/2MGZ0NI