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Showing posts with the label 1997 Asian Financial Crisis

Mahathir's Vision 2020

Thirty four years ago, Tun Dr. Mahathir Mohamad introduced Vision 2020, a bold roadmap to transform Malaysia into a developed nation. Over two decades, he presided over the country’s dramatic economic transformation, shifting the country from agriculture and resource dependency to industrialization, high-tech manufacturing, and rapid urban development. His mega-projects, from the Petronas Twin Towers to the North-South Expressway, became symbols of a nation that could stand toe to toe with the metropolises of the West. Under Mahathir, Malaysia’s GDP rose impressively, and infrastructure development brought tangible improvements to generations of Malaysians. But beneath the glistening towers of Kuala Lumpur lay a system that privileged certain groups over others. Mahathir’s economic model was deeply tied to the idea of Bumiputera empowerment, preferential policies for Malays and other associated indigenous groups, which, while lifting some into the middle class, also marginalized Chi...