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No easy way out
14
By Zafrul | March 14, 2009
I was in Jakarta recently for the World Islamic Economic Forum and the other delegates from all around the world wanted to know what Malaysia is doing to deal with the effects of the current global economic crisis. What were our newspapers saying? What were our political leaders saying?
I felt a little shamefaced admitting to them that the major news back home was not about how we are going to tackle the crisis but rather politics and in-fighting. They were shocked and thought I was joking. Every other country seemed to recognise the threat posed by this crisis and were focusing their energy on dealing with it.
What were Malaysians thinking? Were we crazy? Were we delusional? Why did we think that a global financial crisis which affected the rest of the world would somehow give us a miss as we continued to bicker and squabble?
The technical for such a mindset is “magical thinking”, (not to be confused with positive thinking) the belief that somehow we will be exempted from the griefs and losses that have afflicted others and that somehow, because of our special knowledge (or circumstances) we will be protected.
I flew back to KL in an even grimmer state of mind. The full impact of the crisis had yet to hit us but already, there were signs to show which way the wind was blowing.
Over teh tarik at the mamak stall with my friend Nazri, we discussed the situation. Nazri had a shop selling electronic gadgets. He had been forced to let a number of his staff go, because business had fallen off so much, and was wondering whether he would have to shut down altogether.
“Bro, things are going to get worse before they get better. A lot worse. What are we going to do?”
I shrugged, unable to answer him, being in a similar predicament. Sales had slumped in the three restaurants I part-own in Bangsar and Damansara Heights. Most months, we barely covered our overheads.
Soon, it would be time for painful decisions. And every painful decision isn’t merely one on paper. There are people out there with rent to pay, loans to service and standing orders at the bank, depending on that salary. It’s very easy to reduce things to statistics (or lies, damn lies and statistics as Winston Churchill would say) but there was no easy way of quantifying the human misery resulting from such tough decisions.
I knew some young graduates coming onto the market, with excellent degrees, bursting with talent. Many of them were now sad and depressed, sending out CVs to silent companies who either didn’t reply or were, sorry, not hiring. I saw their confidence and self worth slowly erode as they tried to assure themselves that it was just the economic situation that no one wanted to hire them.
I saw the whiz kids of yesterday who had gone out to the financial capitals and had been on top of the world just a few short years lose their jobs, one after another as their teams were fired, one after another, tightening their belts, stretching their pennies and wondering how much longer they can hold out, not wanting to return home as failures.
No, things are not good. And they seem to be getting worse. With all this misery and human suffering, I feel like throwing down the papers in disgust every time I pick it up and see blazoned across the front page, another (if you take it in the context of global happenings) petty squabble between parties who should really know better.
Look, I understand that there are things worth fighting for. But it’s a question of priorities.
When Abraham Maslow came up with his “hierarchy of needs” he placed physiological and safety needs at the base of the pyramid. Physiological needs include the obvious such as eating, breathing and excreting while safety needs include financial security, health and well-being. He posited that you needed to take care of the basic needs before you moved into the higher ones such as self esteem and self actualisation.
Right now we need to buckle down and concentrate on how we are going to deal with the crisis. We need to see that other Malaysians have jobs; that they have enough to eat; that they have a roof over their heads. What affects your neighbour may not affect you tomorrow, but I can assure you, it will affect you the day after tomorrow.
It’s a little thing called contagion and frankly no one is immune.
We need to look and see what the other countries are doing and see what we can adopt into the Malaysian context. We need to do this quickly and efficiently.
The government has come up with another stimulus package. That’s a step forward in the right direction. We should take it from there and face this out as a united nation. Cynicism costs nothing – it’s easy to sit back and criticise someone else who is doing the work. It may even be in your political interests to see them fail.
But however that goes, it’s not in your national interests. When one fails, we all do. This is a burden we need to shoulder together. Stop cursing the darkness. Light a candle. If your brother is falling by the road, you don’t stand there and laugh at him. You go out there and help him.
It may take more maturity than we seem to have to bury the various political hatchets and work together as one nation, riding out this storm. But it is the only rational response. So I suggest we put aside our differences and get on with it.
This article came out in the Star (Bizweek Section) on 14th March 2009.
Topics: The Star |
I am currently the Group Director of K & N Kenanga Holdings Berhad. Prior to this, I was the CEO of Tune Money. Before trying to be an entrepreneur, I was Head of Investment Banking in Citigroup Malaysia and before that, I was Group Managing Director of Avenue Capital Resources (now ECM Avenue).
March 15th, 2009 at 10:22 pm
Hey TZ
Great article! Keep them coming.
Btw how are you finding your new job?
March 16th, 2009 at 8:58 pm
Its disappointing that those in power are not sending the right signals out. There is only a small part of the population who realize that certain measures need to be taken to ensure you don’t get too effected but the truth is the bigger majority(which are naive) listen to the wrong signals given out for what ever reason which is giving mis-guiding Malaysians.
We must educate Malaysians of the reality and they need to be empowered to know that sometimes we must do more than simply listening to those who do things with a agenda in mind..
Sad situation we are in ha!
March 17th, 2009 at 12:18 am
Damn straight…
March 17th, 2009 at 11:05 pm
Dear TZ, how i wish we have more leaders out there who are as compassionate and thoughtful as you are. While some companies like Nazri’s couldnt afford to keep their staff longer, i am sick to see many more out there would let go off their staff while the top management are still having their luxurious perks…Hope you and yout beloved family are doing fine. Thanks for sharing this on your blod - i dont buy MSM papers.
March 18th, 2009 at 2:34 pm
I am rather disappointed with the recent “stimulus package” because it is urban-centric. There’s nothing that the poor in the countryside can benefit directly. If those living in the cities are suffering, economic downturn will be hell for the pakciks and makciks in kampongs. Sigh*
March 19th, 2009 at 9:17 pm
tengku saya nak mintak tlg dari tengku jika dapat jumpa tengku sekejap pun jadi lah my mail di_lol@yahoo.com mintak tlg dari tengku sekejap pun ok.terima kasih
March 22nd, 2009 at 12:00 am
Agreed, Zaf. It has been silly season for awhile now, in Malaysia. I’m hoping that things will settle by the time Dato’ Najib takes over, so that we can focus on the urgent and important problems facing the economy. Insya Allah we will all come to our senses soon!
March 22nd, 2009 at 6:47 pm
You are so right. It doesn’t matter which side the political party is, but if they can’t decide which is more important than their own ideology, then neither one of them should be leader.
The priority now is crystal clear; either we unite and brave the economic recession as united country, or we live in oblivion and blaming each other for doing nothing about it and bitching about who’s getting what.
p/s: Btw, did you get my sms about requesting a teh tarik session with u?
March 25th, 2009 at 1:41 pm
Before we talk about the right to speak freely as you wish there is other more important rights that we should champion for such as the right to education, housing, food, health care, employment etc.
The problem in this country lately is that people been allowed to speak freely too freely and the consequence is that most of them talk bull shit and in the end offended others in the process.
Basically those who champion the right to speak freely is those who are well off and has no problem in term of education, housing, food, health care and employment thus this are the people who can afford to waste their time and at the same time causing trouble in our beloved nation.
Hello if you all really want to be a hero please grow up and act accordingly, this is not a game of monopoly that you can do what you want, you all are dealing with real people on (bread and butter) and (flesh and blood) and (do or die) issue involving millions of people future.
April 9th, 2009 at 2:19 pm
I am so glad to hear someone making sense. Msia is torn apart by selfish people who are like “katak dibawah tempurung”. The reality of the contagion economic crisis is so real, but our leaders are indulging in stupid in-fighting, blatant corruption and self-interest.
Msians need to unite, regardless of race, religion and political affiliations. We are facing a serious crisis - the only hope we have is if we put the best brains together and seriously implement solutions.
I always feel grieved to see our best and brainiest migrate because they are disenchanted with all the nonsense. Sigh.. Msia is a beautiful and blessed land, pls heal it and restore it to its full potential.
April 14th, 2009 at 10:15 am
Well, i couldn’t agree more with SL Wong. Many M’sians still have the ‘katak bawah tempurung’ and ‘leader knows best’, feudalistic mindsets and unable to grasp the enormous impact the current economic scenario would have on everyone. Even those supposedly in the know eg in MOF, BNM etc are slow and lackadaisical in responding to hard facts and mounting credible adjustments to subdue the crisis. At the end of the day, the ignorant masses stand to suffer most whilst the wealthy leaders sit through pretty. Guess that’s the M’sian way of life.
April 14th, 2009 at 11:34 am
TZA
its good if there is leaders out there that can think the same as you think. I have a friend, graduated a year ago, and she’s quite good and talented, but still tanam anggur until now. I don’t know what happen to our country if this thing continues until next year. looking at our neighbor, Thai really makes me worry. hope we can make it, just like 12 years ago..(the same crisis in 1997).
April 16th, 2009 at 3:28 am
circulate more money in the country, that will help the service industry (bank negara has no problem doing that). Subsidies insecticide and fertilizer that will help the small planters (pakciks and makciks), FELDA can help that just stop sponsoring motorsports (what the hell you guys doing there?). More micro-loans to help unemployed graduates to start something. Politicians need to stop acting like Greek gods over Hercules. If you are not a part of the solution then you are a part of the problem.