YES!

Nah, I am not trying to promote YTL’s YES but here I am dying to introduce you to my spanking hot knowledge magnet – YES magazine.

With its tagline, “Powerful ideas, Practical Actions”, it carries articles on pertinent segments of life – peace and justice, planet, new economy, people power and happiness.

My favourite segment is New Economy (in fact, I was directed to this website upon searching for Madam Elinor Ostrom). Having read them all while listening to what our government announced under their whatever-Ps (ETP, GTP, EPP, IPP, etc.) just make me resolute that there is no other way to a better life than to change this government.

I thought I was underrating my expectations by going simple and resourceful but under the topic of Beyond Money, you’d see money isn’t everything. Under Cooperatives, YES shows that sharing is indeed caring and never at all burdening. While we all know money doesn’t grow on trees, Global Trade Justice tells us the real stories behind our myriad of crises and all. Go Local is simply breathtaking because it teaches how we can create and manage our own economy, instead of relying to global market. They say you should measure a man by his bank account and they forget to ask whether the credit balance derives from legal or illegitimate sources. In Measuring Real Wealth, you get to know what makes a man is hardly what he has in his pocket but what goodness he has in him for others. Social investment makes my heart glow because it stresses the importance of moral and social contributions in life. Work encompasses on matters that matter to create a conducive working environment.

This is a must-read site!

Perhaps, someone should direct Idris Jala and his team to this site. It will save us from all those monstrous economic 'reforms'.

Seoul-ful : Asia's Latest Miracle

Is it acceptable to 'plagiarise' another country's economic master plans, I wonder. If it is not, then I hope we all could feel a little better reading this inspiring article from TIME, considering some people are too busy romancing cronyistic politicking, we almost got derailed from our main reform agenda, that is of economic importance.

Surprisingly, after reading this article, we would realise success of economic reforms rely heavily on political scenes. So, could we all, please nudge our politicians, in case they forget that we, common people, are ready to reform NOW and we need them to wake up, stop fighting and start working for us?

Well, Korea is definitely more than its healthy, nutritional Kimchi, B-Boy Korean Wave, saccharine-filled Winter Sonata, magnificent historical sites and richly cultural values.

Seoul-ful – Asia's Latest Miracle
By Michael Schuman / Seoul (with reporting by Lina Yoon / Seoul)

When I relocated from New York City to Seoul, South Korea's capital, in 1996, I found the city vibrant and fascinating, but also surprisingly provincial. Koreans preferred their fermented kimchi over any other food, and though I grew to enjoy the spicy staple, a longing for familiarity and the feebleness of my digestive system occasionally demanded a respite from the chili-laden cabbage. That proved challenging. Aside from some fast-food joints and wallet-straining restaurants at five-star hotels, foreign cuisine was hard to come by. It's why I have such fond memories of Lee Je Chun. While studying and working in Germany, Lee acquired a taste for things European, so in 1992, he opened the Jell, a shop that sold wine, cheese, pasta, sausages and other imported delicacies. The occasional chunk of cheddar I'd buy was a cherished reminder of a home far away.

A few weeks ago, I returned to my old neighborhood in Seoul for the first time in 10 years, and much to my surprise, Lee and the Jell are still there. But it wasn't the same place where I shopped in the 1990s. Lee no longer sells food: foreign goodies can now readily be found at supermarkets and Costco outlets. Instead, Lee has built a private club for wine lovers, where he hosts tastings for members who pay a $900 annual fee. In its earlier form, the Jell catered largely to expatriates; today the wine club's members are nearly all locals. Koreans have caught on to the pleasures of a good wine. "Korea has changed a lot," Lee says. "Koreans are opening their minds."

The results are striking. Thirty years ago, Korea was poorer than Malaysia and Mexico. Since then, its GDP per capita has surged by a factor of 10 to $17,000, more than double the levels in those countries. GDP growth was 0.2% in 2009, when much of the rest of the world was contracting, and is estimated to be 6% this year. Yet when I left Korea in 2000, it was an open question whether its success could continue. The embarrassing memories of the 1997 Asian financial crisis were still fresh, and Koreans were worrying that they would lose out to a rising China.

Over the past decade, however, Korea has reinvented itself — it's an Asian miracle again. Korea has become an innovator, an economy that doesn't just make stuff, but designs and develops products, infuses them with the latest technology, and then brands and markets them worldwide, with style and smarts. Samsung and LG, not the Japanese electronics giants, are dominating the hot new LCD-TV business. In 4G phone technology, Samsung is poised to become a leading force, while Hyundai Motor, an industry joke a decade ago, is a top-five automaker, its rising market share fueled by quality cars and nifty marketing.

"'Made in Korea' used to be synonymous with cheap and imitative," says Bernie Cho, president of DFSB Kollective, a start-up that markets Korean pop music internationally. "Now it's become premium and innovative." New industries, from online games to pop music, have emerged as powerhouses. Politically as well, Korea is stepping out of Washington's shadow and becoming an influential voice in its own right. Symbolic of that new role, Seoul is hosting the G-20 summit on Nov. 11 and 12, the first Asian country to do so. This nation is a global leader-in-waiting.

Part of Korea's success is simple commitment. Koreans spend some 3.5% of their GDP on R&D, compared with 1.5% in China and less than 1% in Malaysia and India. Innovation, however, isn't something that can be conjured up in government offices or corporate boardrooms. You can tell people to work harder or build a more modern factory, but you can't order them to think better or be more creative. That change has to take place inside people's heads. In Korea, it has. Koreans have become more accepting of diversity and outside influences and quicker to shed old prejudices. Such an outlook was brought about by a fundamental (and continuing) reformation of Korean society. Koreans are breaking down the barriers that held the nation back, a process fostered by political freedom and a passionate embrace of the forces of globalization. Says Cho: "Korea has gone from being a hermit kingdom, from a closed door, to open arms."

A Stranger No More

Globalization has always been the engine behind Korea's economic miracle. Beginning in the 1960s, a destitute Korea capitalized on its cheap labor to competitively export toys, shoes and other low-tech goods to consumers in the West. That jump-started income growth; as costs rose, Korea shifted into ships, microchips and other advanced products. Yet to Koreans, globalization was a one-way street. They were happy to sell things to the world, but wanted no more than the profits in return.

Koreans didn't care much for foreign cars, foreign investment — or foreigners. Empty taxis would ignore my frantic hails, while locals sometimes swore at me while I walked in Seoul with my Korean-American girlfriend (now wife). Behind its crenellated walls, the Korean economy developed on its own dynamic, and boosted by their unexpected economic success, Koreans came to believe their system was special, even superior. But dangerous problems were festering. Companies were shielded from competition and heavily supported by tight links to the government and banks, allowing them to borrow and invest willy-nilly while building up frightening debt burdens. When I would mention these flaws to businessmen or officials, I got brushed off. The normal rules of economics didn't apply to Korea.

That self-delusion evaporated during the Asian financial crisis of the late 1990s. As Korea's most prominent companies collapsed into bankruptcy and the government endured a humiliating $58 billion International Monetary Fund bailout, Koreans had to rethink the ways they did business, managed their careers — even their entire economic system. The crisis "was the catalyst" for change, says financier Tom Kang. "The old ways didn't work."

Kang would know. In 1999, George Soros purchased control of a brokerage then called Seoul Securities and plucked Korean-American Kang from Wall Street and inserted him as CEO. Kang created an instant stir. CEOs in Korea were expected to work their way up the seniority-based corporate ladder, and the incumbent managers at Seoul Securities were outraged that a 37-year-old outsider was now their boss. Local media got wind of his Wall Street — level compensation, and he got dubbed "the $3 million man." Kang became a symbol of evil foreigners taking advantage of Korea's moment of weakness.

Kang had entered a securities industry that didn't operate by international standards. Poorly trained brokers would flog stocks to old ladies based on rumor and press clippings. Kang got to work applying what he had learned on Wall Street, cleaning up the firm's risk management and expanding and strengthening new businesses like institutional sales and investment banking. As profits rose at Seoul Securities, other brokerages copied Kang's imported ideas. The industry has changed so much, Kang says today, that if he arrived now as CEO he wouldn't create nearly the same commotion. Koreans "are much more open, have much more global experience," says Kang. "That's the real drama. You can talk about government policies, but [the difference] is the people."

What happened in the securities industry was replicated in other sectors. The 1997 crisis broke apart the cozy government-banking-corporate networks, forcing the big companies to become truly profitable, independent and internationally competitive for the first time. That process was egged on by a new influx of foreign money, ideas and people. Foreign investors began to play a much larger role in the domestic economy, increasing competition. Korean companies brought low by the financial crisis in banking, autos and other industries were sold off to international giants. Storefronts in Seoul now boast more foreign names than I thought possible in the 1990s, from H&M to Kate Spade to Zara. After Apple's sudden success in a Korean economy where foreign handsetmakers had almost no presence — its iPhones claimed more than a quarter of the local smart-phone market in the first half of 2010, according to research firm IDC — Samsung was pressed to accelerate its own product development. The number of foreigners living in Korea has exploded, from fewer than 250,000 in 2000 to more than 870,000 in 2009. Business before the financial crisis "was more like a club," Kang says. Now "there's a lot more competition, and that's forcing people to be innovative. If they don't, they're going to die."

That reality altered Korea Inc.'s view of the world, and made its companies fiercer competitors. Korean corporate offices used to be for Koreans only, but now firms like carmaker Hyundai Motor recognize they have to be more open to outsiders and foreign ideas to compete on a global scale. "When we went to overseas markets, we tried to control everything from headquarters and by Korean staff; most [Korean] companies were doing that," says Han Chang Hwan, a senior vice president who spent much of the past 12 years posted in the U.S., India, Malaysia and Germany. "Ten years ago, the president of Hyundai Motor America was a Mr. Kim or a Mr. Park. We realized it was ridiculous. Nowadays, all the overseas subsidiaries are handled by local staff. It is a process of globalization." That's made Hyundai much more responsive to local markets and creative in its sales efforts. During the worst of the Great Recession in early 2009, for instance, the U.S. operation offered to take back Hyundais from buyers who lost their jobs. The marketing coup was devised entirely by Hyundai's U.S. managers and likely helped the company outperform its rivals during the downturn. Hyundai is even integrating foreign experts into its Seoul management team. Now the headquarters cafeteria offers salads, steaks and other Western dishes at lunchtime. "In the 1990s, we couldn't imagine!" Han exclaims.

Breaking Down Barriers

That same attitude also bolstered the career of my friend Sue Kim. I met Kim only days after my 1996 arrival in Seoul, when she was a young media-relations staffer for the chairman of the LG group of companies. Soon after we met, she told me that she intended to become a top executive at an LG company. That sounded absurd. Female senior managers at big corporations were practically nonexistent. Most women were relegated to minor tasks and expected to quit after they got married. For those bold enough to stay on, Korean corporate culture made it almost impossible for them to get ahead. Unlike her male counterparts, Kim was required to wear a uniform, a practice she found so embarrassing that she changed into business suits whenever she left the office. After work, her male colleagues would often bond at hostess bars called room salons. Kim was left out. But she persevered: she felt she was offered a rare opportunity to show just how valuable women could be to Korean companies. "I felt responsible, that I had to do well," she says. "I wanted to prove myself, that I'm not different from my male peers."

She succeeded. In March this year, Kim, 39, was promoted to bujang, or senior manager, in the investor-relations department of LCD-panel maker LG Display, at a pace somewhat faster than that of many of her male counterparts. The rank is so lofty that many managers never get promoted again, if they even make it up that high. Kim's climb was partly due to her willingness to play the game. To endear herself to her officemates, she would often join them in after-work power-drinking sessions, occasionally downing 10 boilermakers in an evening. But she also believes the old prejudices against women are slowly melting away because of the trials of global competition, which, Kim says, are forcing Korean executives to place merit over gender. "Korean companies look at their employees by what they can bring to the table," Kim explains. "As the global market becomes fierce, the focus has been on maintaining talent rather than the old discrimination."

Other biases are evaporating. When I lived in Seoul, smart, young Koreans had a very narrow path to success: study your brains out in high school, pass the tough exams necessary to get accepted at one of a handful of elite universities, then join the government or a big company like Samsung or Hyundai. Anything else was considered an embarrassment in Korean social circles, and parents usually dissuaded their sons from charting their own course. Not anymore. Koreans have become much more accepting of different life choices. That's encouraged an army of young people to start their own companies, often in innovative IT or high-tech businesses.

Typical of the new breed is Kim Jin Cheon. For eight years, the engineering Ph.D. had a dream job carrying out semiconductor research at Samsung Electronics. But in 2008, Kim, then 36 years old, did what would have been unthinkable in the 1990s: he ditched Samsung and invested $45,000 of his savings in a software firm he named Company 100, to design browsers for mobile phones. Kim says he was inspired by other young entrepreneurs who founded world-beating companies in Seoul, like gaming outfit NCsoft. With more money available to support start-ups, Kim got a $900,000 infusion from a local venture-capital firm in 2009. He says Korea's new spirit of entrepreneurship represents something larger — a longing for more freedom among Korea's youth. "Samsung became a global company, but what did I contribute?" Kim says. "I felt like just one part, not a leader. The younger generation want to do what they really love."

Cry Freedom

The reason why Kim chose to follow his dream is intimately linked to Korea's political changes. The country was largely ruled by dictators for 26 years, until massive street protests forced free elections in 1987, and even after that, the government still intervened heavily in the economy. But Korea has become a much more democratic society over the past decade, driven by Presidents Kim Dae Jung and Roh Moo Hyun, the first leaders to come from an opposition party, and the market-oriented economic reform made necessary by the 1997 financial crisis. That, says Kim Se Joong, founder of software start-up JellyBus, has emboldened Koreans to take more risks — a crucial ingredient to creating an innovative economy. "When the government was big and had a strict system of control, it was difficult to succeed without the support of the state, so parents pushed their children to reach for stability, by working in Samsung," says Kim. "Now the government is smaller and intervenes less. People feel they can become successful, whatever company they work for. The economy of a country is very reflective of the politics of the country."

Kim Sang Hun takes this thinking one step further. The CEO of NHN, owner of Korea's most popular Internet search engine, Naver.com, says the emergence of new innovative industries like his would have been impossible without Korea's democratization. He remembers the harsh times under the dictators, when police were frequent visitors to college campuses and Koreans were restricted from traveling abroad. "Now the younger generations have become more individualistic and free; they go to Europe on backpacking trips," Kim says. "I think openness is necessary [to have creative industries]. People are not scared to say their thoughts."

Freedom has been an important factor in the career of hip-hop star Tiger JK, who performs as the one-man act Drunken Tiger. The story he told me shows the link between Korea's new openness and its ability to innovate. Back in the 1990s, Korean popular music, or K-pop, was popular only in Korea. Its highly stylized, color-by-numbers dance acts were tightly controlled by the industry, and created all the excitement of a sing-along with Barney. Tiger JK had no interest in playing along. After spending his teenage years in Los Angeles, he returned to Seoul in 1995, hoping to break into the hip-hop scene. But his chatty raps and freewheeling shows were too unusual for Korean music executives. Producers of TV shows promoting new music scolded him for diving into the audience during performances. He even got booed.

Tiger JK peddled recordings of his raps at alternative clubs and built up a following at college campuses with his rebellious shows. About five years ago, other, more famous K-pop stars started seeking him out to praise his music — then adopted some of its elements, like shout-outs to the crowd. TV producers began asking him to dive into the audience. "They were waiting for me to do something wild," he says. Last year, Drunken Tiger won some of the country's most prestigious music awards. Tiger JK says it's because he's become "safe." Actually, it's because Korean society has become as audacious as him. K-pop today is considered the cutting-edge force in Asian popular music. Exports of K-pop nearly doubled in 2009 to over $31 million. "Korean artists became the freedom warriors" for young Asians everywhere, says Tiger JK.

Above all, Korea offers a counterpoint to those political leaders — like China's — who believe "state capitalism" is superior to free enterprise, or that they can create an innovative economy without civil liberties. Of course, that doesn't mean the Korean system is perfect. Despite its progress, Korean society still remains too wary of foreign influence and too biased against women in the workforce. Businessmen complain that too much red tape clogs their way. The outdated education system is so rigid that parents flee the country in droves to put their kids into high schools in the U.S. and elsewhere. The Korean economy is still not a fair place where everyone is governed by the same rules. And North Korea hovers as a relentless threat.

However, the Korea I know is a country that confronts its challenges. I asked my old friend at LG, Sue Kim, what Korea will be like in another 10 years. With more and more Koreans gaining international experience, she believes the great globalization of Korea will continue. South Korea has 75,000 students enrolled at U.S. universities — third highest, behind giants India and China, according to the Institute of International Education. "I think you'll find a much more cosmopolitan Korea," she says. "I think Koreans will bring in more diverse ideas and backgrounds. We're going to extend our presence more globally. We're going to continually grow, and you're going to see a much better country in 10 years." I don't doubt it.

p.s. Thanks to YB Dr 'Abe' Dzul, at least there is ONE malay gentleman who is brave enough to stand up against bigots and idiots. May Allah bless him and his loved ones. Amin.

Women on the other side of the world

A couple of week ago, I thought of Eva Peron – the Spiritual Chief of A Nation (that is Argentina) as she was called by her people. It is close to 6 decades after her demise but her spirit of emancipation lives on in Latin America. Two historical events prove this.

Yesterday, Madam Dilma Roussef was elected as Brazil’s first female president after the ever famous Lula, her mentor, was barred by the court from running his third presidency term. Madam Rousseff is seen as Lula’s ‘puppet’, having lived a colourful life (a former Marxist rebel) and holding various powerful positions in Lula’s cabinet (primarily of Brazil’s energy and finance ministries).

Under Lula, Brazil joined Mighty, Hungry BRIC, catapulting half of his people into middle income class, thus strengthening its domestic consumption on top of rising commodity prices, to bolster Brazil’s economy. Call her whatever you want (politics can be so nasty most of the times) but I think Lula has picked the best person to continue with his successful economic reforms to greater heights. Madam Rousseff becomes a grandmother in September and in her first speech to the people, she said that “[she] will pay attention and take care of the country as a kind mother”. That reminds me of “Don Juan”, in which Lord Byron wrote, “Man's love is of man's life a thing apart, 'Tis woman's whole existence”.

In December 2007, Argentineans elected their First Female President, the beautiful Cristina Fernandez de Kirchner. She took the office from her husband, Nestor Kirchner, who passed away recently from sudden heart attack. Dubbed as The Clintons of The South, this First Couple fought evil capitalists – their own elitists and international foreign banks, defied IMF during 2001 financial crisis, introduced interventionist economic policies and looked after the poors of their nations, making them the third largest economy in the American’s South Hemisphere, rebounding faster than any of its neighbours. They have always been bestest political partners but with her power-broker husband rest in peace, would Cristina’s Peronic spirit fizzles out? I hope she’s be stronger in her true self – just like how Eleanor Roosevelt once said, “A woman is like a teabag, you never know how strong she is until she gets into hot water”.

“Women wish to be loved without a why or a wherefore; not because they are pretty, or good, or well-bred, or graceful, or intelligent, but because they are themselves” ~ Hendri Frederic Amiel

While women on the other side of the world have emancipated and showed their mettle (that they can change the course of their nation and they can rule - how ironic when at home, moms have always been the ruler!), we on this side of the world could only manage a snigger when our budget next year will give us cheaper lingeries, handbags and toiletries. How pathetic they think we are!

God did not create women for nothing. Women nurture, never torture. Women’s real strength, despite their fragile physique, is not just their ability to provide. It is their ability to provide endlessly, wholeheartedly, even if they received so little or nothing in return.

God Bless All Women.

Los 33 - The Chronicle

I am putting up a sidebar for Los 33.

There are just too much to learn from them and thanks to Guardian, my favourite online newspaper, provides a well rounded, heart tugging-and-warming newscope on them. Surprisingly, their story isn't just about the power of hope and humanity, the tragedy may be the much needed turning point to make businesses more employee-friendly. Most importantly, this tragedy brought many people together - from rescuers to volunteers, government to private companies, friends and foes. This tragedy moves a nation and maybe, the world too.

I am just full with emotions. These days, it is hard for many of us to appreciate those people who turn the wheels of this world, risking their lives for a pay that is not worthwhile, so we could enjoy all the basics and luxuries this world could offer.

So, please, in your own capacity, let these people know that we care. For once, make them feel they are important as we who sit behind our desk, signing deals, sipping our coffee, in a cozy little office.

Starting this friday, let's not leave anyone behind...

Khun Korn's Cool Strategies For Thailand

I am sure Oxford would be really happy to see one of his 'disciples' came out and made sense to his people and country. For once, it's enlightening to see that there are a few bankers that work out sensible and morally right economic strategies. For that, Khun Korn Chatikavanij is indeed my Hero.

Move over BN Youth Lab, PEMANDU and ETP.

In case you guys did not read Newsweek (though most offices subscribe to this powerful and insightful editorials), let me share with you how he (Global Finance Minister Winner) steers his country clear of choppy water, at the back of recurring Red Shirt Protests here in this article. How I wish you could understand the real woes of our country before bombarding us, common people, with (nuclear)bomb-astic 'angan-angan'.

Korn Chatikavanij, Thailand’s finance minister, is a quintessential policy wonk who managed to steer his country to a quick economic recovery, in large part due to a $30 billion stimulus package he devised. The Oxford-educated former investment banker spoke with NEWSWEEK’s Jerry Guo about the country’s tumultuous politics and its economic potential.

Excerpts:

At a time when Western economies are still struggling, Thailand is projected to reach 8 percent growth this year. What’s driving this?

The fact that external demand has improved from 2009 levels has meant that those of us with open economies in Southeast Asia will do well. Export has been strong to fellow Asian nations, so we have been somewhat protected from the [ongoing] weakness in the euro zone and U.S. The biggest growth in terms of markets for us has been China and the ASEAN nations. We’ve also had a very successful government stimulus since the beginning of 2009.

What made Thailand’s fiscal spending during the crisis so effective?

We needed something that would replace the disappearing external demand and replace it pretty quickly. The first step was designed for short-term impact: we literally wrote about 9 million checks to low-income households for $70, in the belief that [they] would have the greatest elastic demand and we would be able to leverage that increased spending in the domestic economy. That worked really quite well. On top of that, we also provided extra old-age stipends to about 6 million pensioners and provided income guarantees for 4 million farmers who were almost all in the low-income bracket.

Is any of this growth driven by manufacturers fleeing China as costs there increase?

Countries like Vietnam and, to a different degree, Thailand somewhat benefited from that, but more Vietnam than us. They are more into low-cost manufacturing than we are; we went through that about two decades ago. The biggest post-China opportunity…isn’t taking over their manufacturing mantle, but accelerating urbanization and a demographic change—a high percentage of the Asian population will be retirees—in countries like India and China. Both these trends play to Thailand’s strengths. Urbanization means increased food consumption; [retirees] means demand for travel.

How will your government address the underlying social and economic problems brought to light by the so-called red-shirt protesters?

There are three simultaneous approaches. One is a security approach, making sure we are not actually going after individual protesters but holding the ringleaders accountable legally; we’re in the process of filing charges. A second approach is addressing the issues that were raised: social inequality and poverty, issues that the government takes very seriously. For instance, we are working to refinance all loan-shark debt, which has been a cancer in our system. We’ve refinanced over 400,000 individual accounts. We need to do more of this and make people realize the government makes them a priority. They don’t need to protest. A third approach is the truth-and-reconciliation process, to find out what happened during the crackdown…This is being handled by an independent body, and we’re hoping results will come within the year.

The Western narrative of the protests this spring was that it was a class struggle between urban and rural Thais. Is this accurate?

I don’t believe the Western narrative is correct. There is a genuine income-distribution gap. There are genuine differences in people’s access to resources. All of these need to be addressed as quickly as we can. Arguably this government has done more for the poor than any recent government. The big truth is these inequalities do exist, but the big lie was that this was what the conflict was about. It wasn’t. The conflict was really [deposed prime minister] Thaksin Shinawatra and his supporters wanting to regain power, wanting to overturn the corruption conviction against him, and wanting to get back his ill-gotten assets. What we’re really facing is a small group of instigators trying to overthrow the core pillars of Thailand.

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Turkey's 12 Giant Men and Erdogan

My dear friend said to me before that if he could choose to do something to change the direction of this nation, he is ever so happy to coach a school's sports team.

I know how true that is looking at result of 2010 FIBA World Championship Final, held in Istanbul about a week ago. Turkey's 12 Giant Men were beaten by American team 61 to 84. Wait! I've never heard of Turkey doing so well in Basketball and it took a 16-year long wait before the American clinched the championship (too engrossed with NBA perhaps). Amazingly, unbeknown to many, Turkey is amongst the rarest countries in the world that has an article related to sports in her Constitutions, "The State takes measure to develop the physical and mental health of Turkey citizens of all ages and encourages the spread of sports amongst the masses. The State protects successful athletes" (Article 59).

During the same weekend, 58% of Turks voted "YES" to a package of Constitutional Amendments, which appears to be liberal that could strengthen democracy in Turkey - a Muslim Country with NATO's membership and an aspiring candidate for EU. The amendments, ranging from civilian trials to military officers; the rights of women, the elderly, handicapped people and children will be enhanced; restrictions on unions will be lifted; and individuals will have greater privacy rights to the ability to appeal to the Constitutional Court, also will bring about significant restructuring of its secular judicial system, where power of appointment of judges and prosecutors would be given to the President and legislature. While this unfounded issue has been overplayed by CHK, the secular opposition, market analysts opine that the success of AK's push for amendments is heavily attributed to Erdogan's continued political and economical stability. Poised for third term in the office, Erdogan and his single-party government are in comfortable driver seats to push for their causes, which not only shaken the Turks, but also the West, especially those of Zionist's supporters in the light of its support to continues its business with lone ranger Iran and Mavi Mara Flotilla to Gaza a few months back.

Turkey has embraced the spirit of doing things differently and they have reaped their fruits of labour in time of debilitating economic crisis that hits most EU countries.

Taking from Bloomberg, I would like to share "Erdogan's New Elite" for your reading.

Yes, you can call Erdogan's Turkey anti-secular, terrorist and all, but giving democratic right to its citizens in policy-making clearly reflects their priority that Rakyat is the boss.

Gaga over Lula's

I think we could gauge the greatness of a nation from its sports performance. First stop, look at Lula's country - one of BRIC - the powerhouses of the future!

If you read TIME's "Brazil Start-Up Generation", you'd be surprised that it invests 1% of its GDP in R&D (in its goal to push the country's exports up the value chain by focusing on developing world-class high-tech industries in a variety of sectors — from aerospace, agribusiness and energy to information technology, business-process outsourcing, semiconductors and telecommunications), leading the nation towards entrepreneurship, making every 15 out of its 100 residents involved in a start-up and putting more than 50% of its 190 million citizens in middle class bracket.

So, what makes Brazil so hot in the eyes of investors considering its onerous taxation and regulations, archaic labour laws, dysfuctional education system, squalid political system and endemic corruption?

How could such huge stumbling blocks could produce high employment rates, successive increases in the minimum wage in addition to a nationwide assistance program that has given billions of dollars to the poor, has helped keep Brazil's domestic demand strong?

If you read TIME's "Postcard from Sao Paulo", you'd see that even in 'rumah setinggan' areas, people can earn a decent living.

So, what's so special about Brazil that we can't be as good?

Perhaps, all we need is a smart politician like Lula - dubbed one of the most intelligent politicians in the world - who believes in doing what is right by reducing poverty and inequality.

Perhaps, lackluster of our nation isn't about us being lazy, stupid and weak. It boils down to our indifference to accept people with weak political will to rule our nation.

Again, as I said before, "politics matters"!

So, the vote is in our hand - who would you vote in the next GE to bring back this nation to where it used to be?

Mission Ramadhan 17 - The Economic Challenge

"The Economic Challenge" By Justice Mufti Taqi Usmani

The world, therefore, is badly in need of a Third Economic System. The Muslim Ummah can work out this system based on the Islamic norms. The economic principles taught by the Quran and Sunnah of the Prophet (Sall-Allahu alayhi wa sallam) are quite capable of solving the major economic problems faced by the world today.

While they allow private ownership and market economy, they also provide a well considered system of distributive justice, which may eliminate the inequities and bring about a system in which profit motive works with the collective interest of the society. The basic fault of communism was that, frustrated with the inequity of capitalism, it assailed the very institutions of private ownership and market forces and developed a utopian idea of planned economy which was unnatural, artificial and oppressive. The denial of individual liberty curtailed the zeal for production and the wide powers of the state left the destiny of the people in the hands of the ruling class.

It was neither private ownership nor the institution of market forces that was the basic cause of injustice in the capitalist system. The basic factor for creating inequities in the capitalist countries was the absence of a criterion to differentiate between just and unjust earnings. The instruments of interest, gambling, speculative transactions and the tools of exploiting immoral desires of the consumers to secure huge profits were allowed, which tend to create monopolies and in turn paralyze the forces of demand and supply or at least obstruct their operation. It is thus ironical that the capitalist theory on the one hand asserts the principles of lassiez-faire but, on the other, by allowing the aforesaid instruments, interferes with their natural function and stops the market forces from playing their due role by creating monopolies that impose their arbitrary decisions on the bulk of the common people.

The system of interest favors the rich industrialists who benefit from the wealth of the common people who deposit their savings in the bank, and after making huge profits do not allow the common people to share these profits except to the extent of a fixed rate of interest that is again taken back by them as it is charged to the cost of production. At macro level, it means that these rich people always use the money of depositors for their own benefit and in reality pay nothing to them because the interest payments are always added to the cost of production. Similarly, gambling is a major instrument for concentrating the wealth of thousands of men in a few hands and for promoting the disastrous motive of greed for the unearned income. The speculative transactions are also a major source of disturbing the natural market operations and contribute to the inequities in the distribution of wealth.

Islam not only allows the market forces but also provides mechanism to keep them operative with their natural force without their being hindered by monopolies. It applies two types of controls on the economic activities.

First, it subjects the process of earning to certain divine injunctions, which clearly define the limits of halal and haram. These injunctions tend to prevent monopolies and curb the unjust and immoral earnings and commercial activities detrimental to the collective interest of the society. In the context of modern economic needs where the savings of the common people are activated to boost development, the use of the Islamic instruments like musharakah and mudarabah, instead of interest, may make the common people directly share the fruits of development which may bring prosperity in a balanced manner reducing the gap between the rich and the poor.

Second, the institution of zakat, sadaqat, and certain other financial obligations provide that even the halal income is again distributed to the persons who could not earn enough due to insufficient market opportunities. Through the twin controls, the wealth is kept under constant circulation and the chances of its concentration are almost eliminated.

But our main tragedy is that the principles of Islamic economy are still in theoretical form for which no living example is available. The Muslim countries have not tried to structure their economy on Islamic basis. Most of them are still following the capitalist system and that too in a half-baked manner, which has made the economic atmosphere much worse than that of the developed capitalist countries. Unfortunately, despite having the clear cut Islamic injunctions, the inequities existing in Muslim countries are far more severe than in the Western world.

This tragic situation cannot last forever. If we are not prepared to mend our ways, some natural process of revolution is bound to find its way. If we want to avoid disastrous consequences of such revolution, we'll have to restructure our economic system on the basis of clear guidance provided by the Qur'an and Sunnah. Our success in setting an example for implementing the Islamic principles will be our best gift to the human fraternity at the advent of the new century. I hope that if the principles of Islamic economy are implemented sincerely, we'll find the world more receptive to them today than we experienced it in the past.

Rich Experience from Danone Grameen

Reading “Danone’s Cheap Trick” on TIME’s 23 August 2010 brings me back to my primary school days where free chocolate milks were distributed to all students. I hate drinking chocolate milk (I like mine simply plain) so I would freeze my milk cartoon in the afternoon and a few hours later, I would be seen spooning my chocolate ice cream – much to the envy of my younger sis :)

Projek Susu Sekolah was launched by Tun Siti Hasmah in September 1983 under collaboration between Education Ministry and Syarikat Nutri-tional Products Sdn Bhd because she believed “Rakyat Sihat, Negara Maju”.

Over the years, such program no longer ran for free as students had to pay 30cents per cartoon and it was then solely distributed to poor students for free. And over the years, the quality and the quantity distributed yo-yoed, where there were reports of en masse food poisoning amongst students drinking the milk while some did not receive their ration as scheduled. Untimely, such thoughtful program was stopped in August 2007.

However, in May this year, Education Ministry had to come up with an explanation as of to why the Ministry is yet to revive the said program. The Ministry reasoned that their distributors are yet to be HACCP-certified, which is made compulsory by Health Ministry.

That is mind-boggling to me – is it that difficult to be HACCP-certified these days when we have reliable brand names to tap from and for RM25.0 M contract per year, I don’t think it is costly for such a newly-minted distributor to procure such important certification in F&B industry?

Anyway, reading the article also invigorate my hopes for this Ibu Pertiwi.

Here’s why.

Economics and Social Responsibility work!

Grameen Danone is an example of successful social businesses, by using corporate infrastructure to reach less privileged consumers, leveraging on local source of raw materials and local manpower (paid at local wages) to manufacture products that are direly needed by the surrounding community.

Multiplier effects of such business establishment are tremendous in any given society as

Innovation is a way forward

Instead of complaining that manufacturing costs keep skyrocketing, Grameen Danone incorporates innovations to keep the costs at reasonable level and their innovations surprisingly come from NGO and normal people that care for the poor. Such thinking-outside-the-box coupled to liberal business policies open many doors to future business opportunities for Danone and foster positive development of conscientious R&D generation that would contribute towards doing business friendly, holistically.

A good intention goes a long way

When we put our mind and soul into something that is beyond any benefits to ourselves, out of empathy, God, the Most Gracious and Merciful, will reward us in many ways and most of the time those kindness God bestowed upon us are being paid forward to others that deserve the most, even not in our short time on this beautiful world.

Grameen Danone isn’t supposed to bring in any money from their investment in Bangladesh, selling their products to the ultra-poors in the world so they could have sufficient nutrition. Still, they went ahead. The world’s largest yogurt maker is now eyeing the possibility of African markets and working along with many more innovators that would make healthy food affordable to all.

And for me, that’s the most beautiful thing one can do in life.

"Seminar Ekonomi Perspektif Muda" (Must SEE Event)

I wish I could make it for this one regardless the fact I am 36 years old :) but I have prior family arrangement to attend to this weekend.

To all my fellow readers out there who wish for a part in making this State you called home (like me) - Selangor - continues to prosper, in bigger, better ways, please visit this link and register for this Saturday's seminar.

It is another great effort by OSEA, that from my point of view, to 'merakyatkan ekonomi' . This is a great opportunity for you to do something for your Ibu Pertiwi.

High Income or High Competitiveness?

“Battle is the most magnificent competition in which a human being can indulge. It brings out all that is best; it removes all that is base.

All men are afraid in battle. The coward is the one who lets his fear overcome his sense of duty.

Duty is the essence of manhood”

~ General George S. Patton

When I went to 'roll my sleeves and get my hands dirty' in The Little Red Dot a couple of years ago, too often I heard that they never thought a Malay could be as competitive because they have seen many come and go and they lack the urge to compete healthily on the same level with the rest of the team, instead of using their charms to gain support to stay afloat. At first, I felt good but after a while, shish, are we Malays that bad that me, the not-so-smart malay gal could be seen as such?

With this hoo haa on making this country a High Income Economy, joining another 67 countries recognised as ones by the World Bank, I am totally skeptical that this country, with Malays being the majority, could be one because I always see that most Malays are 'malaise' and they think highly of them it's extremely difficult to make them think, what more to think outside the box and make this country a great one? Most think the job they have are rightly theirs, not because they earned it, but because they deserve them even when they only lift a finger or two! This explains why our public servants balloon up in recent years - just like when we first gained our Independence. However, this time around, we hire more not to empower them but to control them in times of elections. Like Sabah and Sarawak, they are also our Gomen's FDs.

Even if we become one, I hate this GNI and that GDP because we could have high income per capita yet not everyone benefited from it. So, what good does it make? It goes back to where we are today.

I shall leave economic theories to those people who know best like Mr. Etheorist (wow, I love his blog!) and today, I wanted to rant about Global Competitiveness Index ("GCI").

"The essence of competitiveness is liberated when we make people believe that what they think and do is important - and then get out of their way while they do it" ~ Jack Welch

GCI is a new, more comprehensive tool to assess competitiveness of nations as "a competitive country is one that increases the prosperity of its own people". Developed for the World Economic Forum ("WEF") by Professor Xavier Sala-i-Martin of Columbia University, the new index extends and deepens the concepts and ideas underpinning the Growth Competitiveness Index formerly used by the Forum. Officially launched in September 2006 as part of The Global Competitiveness Report 2006-2007, the GCI has now become WEF's main index of reference. For 2009 - 2010, Switzerland knocks USA off the first spot to be the most competitive country.

What I love about GCI is that it encompasses on 12 Pillars of Competitiveness, taken from the very plain words of Dr. Gerald Bracey here in the context of ever-familiar USA: -

1. Institutions must operate through laws that are fair, not through personal whim or through the kind of cheating we saw at WorldCom, Enron, etc.

2. Infrastructure. We have long taken infrastructure for granted, but since Katrina and the collapse of that bridge in Minneapolis, we can no longer afford to be complacent. You need effective was of transporting goods and people via roads, railroads, ports, and air. You need reliable electricity and a good telecommunications system.

3. Macroeconomy. Our weakest link. Governments that have to pay lots of interest on debt can't be efficient because that money can't go to increase productivity. The U. S. debt, both to other nations and to its own people is huge. The trade deficit has been falling somewhat because of the falling dollar, but that kind of gain entails its own risks--if China and Japan bail out of buying bonds and such in dollars, the economy will collapse (but so will theirs)(75).

4. Health and Primary Education. As I showed in "The Worst Place to Be a Kid," the U. S. is not a particularly healthy place to grow up. And the health problems suffered by children carry over into the workplace as adults, especially for low-income workers. Primary education establishes the base for later education.

5. Higher Education and Training. For the WEF, this includes secondary school as well as institutions of higher education. And, as the half-life of jobs shortens, the availability of and ability to take advantage of high quality on-the-job training becomes increasingly important to both employer and employee.

6. Goods Market Efficiency. In a competitive nation, the most efficient firms produce goods that consumers really want.

7. Labor Market Efficiency. In a competitive nation, workers are allocated to their most efficient use and given incentives for high performance.

8. Financial Market Sophistication. A competitive market channels resources to the best entrepreneurs, not to the politically connected. It also provides risk capital and loans.

9. Technological Readiness. The WEF holds that differences in technology use explains much of the differences in productivity among nations. Information and communication technologies are especially important in this regard.

10. Business Sophistication. This reflects how well various related companies work together in networks.

11. Innovation. "Firms in innovative countries must design and develop cutting-edge products and processes to maintain a competitive edge. This requires an environment that is conducive to innovative activity support by both the public and private sectors".

12. I left out market size because a) I'm running out of room and b) the WEF admits that it is not as well established as the other 11.

For more bytes on these pillars, I enjoy reading Prof.M.Guruprasad's as it shows the vital aspects of each pillar.

Once upon a time, Malaysia and Taiwan were standing on the same level in terms of competitiveness and 52 years on, Taiwan is on the 12th place - jumped 5 places - while Malaysia falls 3 places to be on the 24th place (See WEF's full ranking here).

Why do I need to compare us with Taiwan anyway? Not only it is amongst the highly competitive countries, it is also a High Income Economy! Maybe we need to get our EPU to learn a thing or two from this nation!

If you watched NatGeo, Disc and Travel & Living channels, you would see many faces, facets and assets of Taiwan. This tiny nation houses the most expensive and the finest Chinese treasures - thanks to their advent in technology and their responsible to guard these precious priceless gems from the past that make Chinese people the best amongst the finest. Nonetheless, its advent in technology is well balanced with their love for harmonious existence with nature, self-sufficient to feed its people. Amongst the cleanest and the best social community services, this tiny nation with a big heart and brilliant plans is a must-see travel destination.

It's Council for Economic Planning and Development in May last year came up with development strategies for six key emerging industries over the next three months: - (i) tourism, (ii) medicine and health care, (iii) biotechnology, (iv) green energy, (v) culture and creation, and (vi) high-end agriculture, in order to cope with the drastic changes that are taking place in the global economy and enhance Taiwan’s industrial development, aiming to upgrade industrial competitiveness and break through the difficulties facing exports at a time when the international environment is faring so poorly.

And we went Ga Ga over 5-year RM1.0 B investment in bottling Coke when F&N decided to quit, planning to build Nuclear Power Plant when we have enough green energies to leverage on, destroying our billion years, irreplaceable flora and fauna that not only supply livelihood to many of its citizens and a wondrous Mother Nature that we could offer to tourists.

I once watched on NatGeo on 'belangkas' or horseshoe crabs. We Malaysians only know them as delicacies when their blue blood is liquid gold to biomedical industries.

We won't get anyway if the largest race in this country continue to take a backseat. It's high time to change that and be the change we want to see (Gandhi).

Global Finance Minister of the Year

The Financial Times’ Banker magazine awarded the said title to British-born, Oxford-educated Khun Korn Chatikavanij, as reported by The Malaysian Insider today.

He was appointed finance minister in 2008 in the Cabinet of long-time friend and fellow Oxford alumnus Abhisit Vejjajiva, Thailand’s prime minister.

What Khun Korn Chatikavanij Says

“We always felt one day I would come into his fold as it were — the realm of politics — but I took my time, almost 19 years,” he said in a recent interview with Reuters at Parliament. “For me, this is the right thing for the right time”.

What The Magazine Thinks

The Banker agrees, praising Korn for navigating Thailand’s trade-reliant economy through the financial crisis, with fiscal stimulus measures it put at more than US$61.2 billion while boosting long-term government spending on infrastructure.

“(Korn) has introduced an active and extensive reform programme that has succeeded in putting Thailand’s economic policy back on track after several years of economic paralysis and frequent government changes,” the magazine said.

What Khun Korn Chatikavanij Aspires

“What we would like to see is a much bigger share of the service sector compared to manufacturing. What’s notable over the past 10 years is that with the economic growth that Thailand has seen, the service sector share has actually shrunk a little bit. That’s unusual.”

“Some investors may not like it. But we have to protect our own environment and the future living conditions of our own citizens,” he added.

He also disagrees with manufacturers and shippers pressing Thailand to build a deep seaport on its western shore to allow exporters to ship directly to the Middle East, Europe and Africa.

Such a project would jeopardise one of Thailand’s biggest assets, he said — tourism in the southern Phuket region, home to some of the world’s most coveted beaches. He would like to see tourism expand, helping to build up the service sector.

“We shouldn’t sacrifice a very robust tourism sector in the south and put that at risk through the development of major industrial projects that would go along with that port,” he said.

And that, ladies and gentlemen, is one fine man - a man who is in touch with his people and knows what is best for them.

Public Forum - Implikasi GST kepada Rakyat

Forum Awam: Implikasi Cukai GST Kepada Rakyat

Date:	Wednesday, 24 February 2010
Time:	20:00 - 23:00
Location:	Auditorium MBSA, Shah Alam

Description

Ucapan Alu-Aluan oleh YAB Tan Sri Dato' Seri Abdul Khalid Ibrahim, Dato' Menteri Besar Selangor

Forum Awam Bermula

Moderator: YB Nik Nazmi Nik Ahmad, Setiausaha Politik kepada Dato' Menteri Besar Selangor

Panelis:

1. YAB Tan Sri Dato' Seri Abdul Khalid Ibrahim, Dato' Menteri Besar Selangor
2. YAB Lim Guan Eng, Ketua Menteri Pulau Pinang
3. YB Dr. Dzulkifli Ahmad, Ahli Parlimen Kuala Selangor
4. YB Tony Pua, Ahli Parlimen Petaling Jaya Utara
5. Sdr Rafizi Ramli, Ketua Eksekutif Pejabat Penasihat Ekonomi Selangor

Masuk adalah percuma

Hubungi: 0355447017 / saifullahzulkifli@gmail.com untuk maklumat lanjut

Anjuran Pejabat Menteri Besar Selangor

New Media New Malaysia

You must make a point listening to BFM 89.9, once in a while. It's definitely different from our normal radio stations.

On way back yesterday, I listened to Caroline Oh's In conversation with Mkini Cofounder, Mr. Premesh Chandran and this morning, curious as usual, I googled him (OK, OK, OK I'm google-manic) and then landed on Bunga Pakma's "Happy 10th anniversary, Malaysiakini" post in Hornbill Unleashed, first appeared in November last year (Yes, I'm always late one).

Bunga Pakma writes about amazing stories on Madam Harriet Beecher Stowe (I love her "Uncle Tom's Cabin") and Dr. Jonathan Swift (Have you read his "Gulliver's Travels?), that could be the hallmark of a saying, "The pen is mightier than the sword".

I like it when Bunga Pakma ended the feel-good post with this: -

"Swift is a hero, certainly my hero, and I should hope a hero to any journalist and writer. Swift speaks to us from his epitaph in Dublin Cathedral:-

“Go, traveller, and imitate—if you can—him who defended liberty with courage as a man must”.

How timely that the famous Dato' Sak writes about the inefficacy of NST revamp here.

New Media, like Mkini, is definitely the way to go because there's nothing but the truth that we people need to know, today (unlike MSM that give us yesterday's news today) and get people changing - in many ways, big and small, alone or together. Like what Mr. Premesh Chandran told Caroline that there is so many Heroes out there, gone unnoticed - yes, because they know they need to do something for this Ibu Pertiwi and its people.

Oh, do you know that "Malaysiakini today is one of the two news websites in the world - the other being Wall Street Journal - which have made the subscription model a success" and as of July 2009, Malaysiakini became the most read news website according to Google.

Thank you Bunga Pakma and Mkini. May we have people like Dr. Taylor Swift in our Ibu Pertiwi.

p.s. Again, a duet by M. Nasir and Malique's "Mantera Beradu", would be a fitting song for this post.

p.s.s. Well, I won't start blogging if not for exposure to reading Mkini, where I first 'met' Yang Berkhidmat Jeff Ooi and get 'acquainted' with his famous blog. It even published all articles I sent to them. Merci be coupe Mkini!

I Want My Money Back

Lenka’s “The Show” ends with “I want my money back”. Yes EPF, I want the money you have invested in Valuecap - back!

A few hours after it was reported in MI on 28 July 2009 that “EPF to loan RM5b to Prokhas”, the social security institution formed according to the Laws of Malaysia, Employees Provident Fund Act 1991 (Act 452), “which provides retirement benefits for members through management of their savings in an efficient and reliable manner”, denies talks with Prokhas.

Though MoF was claimed to have provided a whopping RM10.0 B to Prokhas for the said guarantee packages, one would wonder why they need another RM5.0 Billion LOAN? But then why EPF Loan when Prokhas is to provide guarantees? Smell something fishy? I am disturbed after reading Mr. Simon Templar’s opinion here and here.

Our businessmen would cheer up as these guarantee packages could assist them securing financing during this cruel credit crunch – well, bankers are fair-weathered friends after all. However, to almost 12 Million EPF contributors, I am sure we feel cheated. Too many a time, our hard-earned money is used to ‘medicate’ self-centric ailing companies, while normal people are left unassisted but to seek Ah-Longs.

With ever-rising cost of living and inflation rate, thanks to people-unfriendly economic policies, and our old-age savings are constantly invested in this ‘adik beradik investment’, do you think we could survive later in life? There is no way we could, looking at dismal EPF dividend rates

.

It is alarming to notice lately that our GLCs are not doing well , the entrusted local institutions are not liquid enough to continue supporting the SME businesses as International banks are allowed to provide micro-credit financing, and there seems a trend in this Ibu Pertiwi to set up new entity to ‘exert desktop control’ on existing agencies dealing with SME. So, now you know why the Government has to go to our ‘piggy banks’ like EPF, KWAP, etc. for financial assistance.

While doing this post, I came across Uncle Kit’s speech on 2008 Budget in Parliament back in September 2007, “DAP proposed “FairWage” as an integral component of a new national policy in promoting social justice. FairWage has a 3-prong strategy for implementation: -

1. To increase that take-home pay, workers will contribute a lower rate to the EPF. For with pay below RM900 per month, employee contribution to the fund will be waived while for those with income of not more than RM1,400 per month, the employee’s contribution to EPF shall be reduced from the current 11% to 5%.

2. To make them more employable, employers will reduce their rate of contribution to the EPF. For workers above the age of 35 to 55, earning between RM900 to RM1,400 per month, the employer contribution shall remain at the current 12%. For those earning less than RM900 per month in the same age group, the employer contribution shall decline to 10%.

3. To compensate for the above, the Government will give workers FairWage income supplements to achieve a higher level of income. For workers aged 45 and above, receiving monthly income below RM900 per month, they will receive an annual income supplement of RM2,400. For those workers above the age of 35 earning less than RM1,400 per month will receive RM1,600 per annum. Of the supplement, a quarter shall be in cash form, while the balance will be channeled into the EPF accounts. By channeling a larger portion into the EPF, it will help the workers save for their future needs. An additional 10% on top of the income supplement shall be applied to those who live in the Klang Valley, Johor Bahru as well as on the Penang Island to cope with the higher cost of living.

I think this is a feasible idea and I sincerely hope the Government of the day would take it up, although it came from the Opposition as Gandhi-Ji says “We must always seek to ally ourselves with that part of the enemy that knows what is right”.

This is part of social justice for your people and please do it as soon as possible since “the longer you delay, the more your sin gets strength and rooting” and Miguel de Cervantes Saavedra quotes “delay always breeds danger and to protract a great design is often to ruin it”.