Mampukah Malaysia Menyelamatkan Ekonomi Tanpa Menggunakan Pendekatan Wang Helikopter Dan Pelonggaran Kuantitatif ?

Ramai ahli ekonomi yang menyimpulkan bahawa impak pandemik COVID-19 kepada ekonomi dunia adalah lebih teruk berbanding dengan impak Great Depression yang berlaku pada tahun 1930. Tambahan pula, great depression yang terjadi ketika itu adalah disebabkan oleh kejatuhan pasaran saham di Amerika Syarikat. Berbeza hal nya dengan impak pandemik COVID19 ketika ini, di mana seluruh dunia sedang berhadapan dengan krisis ekonomi yang teruk disebabkan banyak sektor real economy yang telah lumpuh. Sifat virus COVID-19 yang mudah merebak menyebabkan semua negara di dunia terpaksa mengambil langkah-langkah pencegahan yang sangat drastik. Kawalan pergerakan, penutupan sempadan dan penguatkuasakan penjarakan fizikal telah memaksa kebanyakkan sektor ekonomi dan sektor sosial tidak dapat beroperasi. Kesannya tentu sahaja telah menampah parahkan krisis ekonomi yang telah sedia terjadi sebelum pandemik COVID-19 bermula.

Sebelum bermulanya pandemik COVID-19, Malaysia hakikatnya telah sedia terhimpit dengan tekanan kelembapan ekonomi dan  hutang negara yang semakin meningkat. Isu seperti kenaikkan kos sara hidup, kadar pengangguran yang tinggi, kejatuhan harga minyak mentah dunia, nilai ringgit yang merudum dan banyak lagi isu yang menggambarkan betapa Malaysia sedang berhadapan dengan persekitaran ekonomi yang kurang sihat. Pelbagai pelan pembangunan dan pemulihan telah dilancarkan dengan harapan dapat memacu ekonomi Malaysia ke tahap yang lebih baik. Selain itu, pihak kerajaan juga hampir setiap tahun telah melancarkan pelbagai pakej bantuan ekonomi bagi mengurangkan beban kos sara hidup rakyat.

Tidak sukar untuk difahami bahawa pakej bantuan ekonomi terpaksa dilancarkan kerana pelan pembangunan dan pemulihan ekonomi telah gagal mencapai matlamatnya. Jika pelan pembangunan dan pemulihan ekonomi berjaya mencapai matlamatnya iaitu meningkatkan kesejahteraan ekonomi rakyat, maka tidak perlu dilancarkan pakej bantuan ekonomi. Namun apa yang berlaku ialah kehidupan rakyat semakin terhimpit dengan kos sara hidup yang semakin meningkat, bahkan semakin ramai bergantung kepada sumbagan orang ramai dan foodbank untuk melangsungkan kehidupan. Lebih menyedihkan ada yang memilih jalan singkat untuk lari dari tekanan hidup dengan cara membunuh diri. Begitulah keadaan kehidupan manusia ketika ini yang diatur dengan sistem ekonomi kapitalis.  Matlamat utama sistem ekonomi iaitu memberikan kesejahteraan dan keadilan kepada semua manusia ternyata gagal dicapai oleh sistem Ekonomi Kapitalis. Kita dapat menyaksikan dengan jelas, bukan hanya di Malaysia tetapi juga negara-negara lain, kehidupan rakyatnya semakin terhimpit dengan perlbagai macam masalah kehidupan. Keadilan? di mana keadilan jika 95% kekayaan dunia hanya dikongsi oleh sebilangan kecil manusia yang mempunyai kekayaan yang sangat luar biasa. Manakalah sebahagian besar manusia di seluruh pelosok dunia hidup dalam kemiskinan, serba kekurangan dan kelaparan.

Disebalik komitmen tinggi yang sering diberikan oleh para pemimpin negara untuk memulihkan ekonomi dan membantu menggurangkan beban hidup rakyat, hakikatnya dengan kebergantungan yang tinggi kepada perdangangan dunia dan keterbatasan sumber kewangan yang ada, tidak banyak yang mampu dilakukan oleh kerajaan bagi memenuhi komitmen yang telah diberikan. Defisit fiskal setiap tahun sejak berlakunya krisis kewangan asia pada tahun 1997/8 merupakan satu petunjuk bahawa impaknya terhadap ekonomi Malaysia masih belum pulih sehingga ke hari ini. Keadaan ekonomi Malaysia  diburukkan lagi dengan pelbagai pergolakan ekonomi global seperti krisis kewangan global 2008, kejatuhan harga minyak dunia, perang dagang US-China dan lain-lain lagi. Malaysia sebagai sebuah negara dagang yang mengamalkan dasar ekonomi terbuka sangat terkesan dengan keadaan ekonomi global yang tidak stabil. Hakikatnya impak pandemik COVID-19 kepada ekonomi Malaysia adalah jauh lebih teruk berbanding impak krisis 1997/8.

Jika impak krisis 1997/8 terhadap ekonomi Malaysia tidak dapat dipulihkan sepenuhnya, ditambah pula dengan persekitaran ekonomi global yang semakin mencabar, bagaimanakah ekonomi Malaysia dapat bangkit semula setelah dilumpuhkan oleh pandemik COVID-19? Benar, bukan hanya Malaysia, tetapi hampir seluruh negara menghadapi masalah yang sama termasuklah negara kuasa besar ekonomi seperti Amerika Syarikat dan negara-negara Eropah. Impak pandemik COVID-19 terhadap ekonomi dunia menjadi lebih parah kerana lebih daripada separuh kekayaan ekonomi dunia ketika ini yang didominasi oleh sistem Kapitalis adalah  dijana daripada pasaran kewangan. Maka, terdapat banyak gelembung – gelembung ekonomi yang telah dihasilkan dalam kitaran ekonomi. Kesannya, pandemik COVID-19 telah menyebabkan gelembung-gelembung ekonomi tersebut pecah sehingga menyebabkan pasaran kewangan mengalami kerugian yang sangat besar. Maka, dunia ketika ini sedang berhadapan dengan krisis ekonomi yang berganda-ganda.

Penyelesaian yang sangat diperlukan bagi mengatasi krisis ekonomi ketika ini adalah dengan cara meningkatkan penawaran wang dalam ekonomi agar dapat mencipta kuasa beli isi rumah mahupun firma terhadap barang dan perkhidmatan. Terdapat dua cara dalam sistem kapitalis untuk meningkatkan penawaran wang dalam ekonomi iaitu, pertama menggunakan kaedah wang helikopter dan kedua menggunakan kaedah pelonggaran kuantitatif. Wang helikopter adalah kaedah dimana bank negara mencetak duit dan mengedarkannya secara langsung kepada isi rumah. Manakalah pelonggaran kuantitatif pula, wang dicetak dengan cara bank negara membeli bon kerajaan yang dimiliki oleh institusi kewangan agar institusi kewangan mempunyai kecairan untuk dipinjamkan kepada isi rumah. Tujuannya  sama sahaja iaitu mencetak wang untuk dipam ke dalam kitaran ekonomi agar rakyat dapat berbelanja dan membuat pelaburan. Dengan jangkaan ekonomi akan bergerak dan pasaran kewangan akan kembali aktif. 

Mencetak wang sama ada dengan kaedah wang helikopter atau pelonggaran kuantitatif akan memberikan kesan yang sama iaitu ekonomi akan mengalami inflasi yang tinggi, tekanan kepada peningkatan kadar bunga nominal dan nilai mata wang akan merudum. Namun, tidak pada Amerika Syarikat, dolar tetap kukuh walaupun dicetak dengan banyak sejak sekian lama dan seluruh dunia mengetahuinya dengan jelas. Ini kerana, semua negara di dunia masih mempercayai dolar Amerika sebagai matawang antarabangsa dan sentiasa dahagakan dolar Amerika, menyebabkan permintaannya sentiasa tinggi. Tidak bagi negara seperti Malaysia, mencetak wang tanpa kawalan yang ketat akan menjerumuskan Malaysia ke kancah krisis ekonomi yang teruk.

Ketika ini, Malaysia telah pun menggunakan banyak sumber kewangan yang ada untuk mempertahankan ekonominya daripada dilumpuhkan oleh pandemik COVID-19 serta memberi bantuan kepada rakyatnya. Namun sejauh manakah Malaysia mampu bertahan dengan sumber kewangan yang ada dan adakah Malaysia mempunyai keupayaan kewangan untuk membangkitkan semula ekonomi yang telah dilumpuhkan oleh pendemik COVID19? Jika tidak,  adakah Malaysia sebagai negara yang turut mengamalkan sistem ekonomi kapitalis mempunyai pilihan lain selain daripada mencetak duit?

Anda Mungkin Meminati:

1. WE HAVE TO FREE OURSELVES FROM THE UNITED NATIONS BEFORE WE CAN TRULY LIBERATING PALESTINE

2. Virus COVID-19

 

 

WE HAVE TO FREE OURSELVES FROM THE UNITED NATIONS BEFORE WE CAN TRULY LIBERATING PALESTINE

Why does the international community, including the Muslims, puts so much hope on the United Nation (UN) to stop the zionist Jewish regime from killing the Palestinians? Don’t they know that the regime would not have existed today if not for the UN? UN recognized the occupation of Palestine by the zionists through the declaration of Israel as a state in 1948 even though the UN and the world knew that (the illegal) Israel was established on the land that they stole from the Palestinians. Is this fact still not enough to prove that the UN is a hypocritical organization, consistently displaying double standard in viewing the Palestine – zionist conflict? Over five-decades, UN came up with a numbers of resolutions and ‘solutions’ that advertently strengthens the position of the zionist regime while weakening the position of Palestine.

Today, because of the role played by the UN, 95 percent of Palestine land is occupied by the zionist regime. Not only that, in 2020 four Arab countries; United Arab Emirates, Sudan, Morocco and Bahrain forged ties with the illegal state. What seem unimaginable is happening - Muslim countries that have lost their dignity betraying Muslims in Palestine. In the beginning, the UN promoted the 'Two-State Solution' to de-escalate the Palestine - zionist regime conflict – some thought there seem to be light at the end of the tunnel. However, after a few decades the two-state solution is no longer relevant, simply because there is not a single true Palestinian government, everything is 100 percent under the control of the zionists. Today, the narrative has been changed from the ‘two state solution’ to ‘normalization’ - zionist (illegal) Israel, with the assistance of the United States (US), is seeking recognition of the (illegal) Israel state from Muslim countries, especially from the Arab countries.

At this moment, western politicians, academicians and activists are talking about the human right issue of the Palestinians within the context of the Palestine – zionist (illegal) Israel conflict. They are trying to push the UN and superpower countries, especially the US and Europe, to protect the human rights of the Palestinians in a country governed by the zionist regime. In other words, the international community through the UN recognizes that all of Palestine is occupied or under the control of the zionist regime. Clearly, any struggle to establish Palestine as a country through the two-state solution is no longer relevant! Now, the prime narrative is how Palestinians can exercise their rights in the country that they live in, (illegal) Israel. This is the craftiness of the UN in showing its support to the zionist regime in occupying Palestine. At the same time, UN resolutions and international laws are continuously used to paralyze any Muslim struggle against the occupation of zionist (illegal) Israel over Palestine. The oppression of the Palestinians will continue as long as the Muslim community still believes in and continuously seek help from the UN to solve the occupation of Palestine by the zionist regime.

It is very important for Muslims to understand the history of the establishment of the United Nation. Failure to understand the history of the UN will result in Muslims failing to recognize their enemy. As a result, we persistently seek help from the enemy whose hands are still covered by Muslim blood to solve the crisis. It is not a secret that the UN today and what people call international law and the international community are established from the roots of the assemblage of European Christian states on the basis of Christian bond to stand against the Islamic Ottoman  State at that time.  It is well known that the UN is dominated by the US, the strongest ally of the zionist regime in the Middle East. Not only that, everyone knows about the close US relationship with the regime - they need and support each other. It would be very surprising if there are Muslims who do not know about this! However, it is no surprise that Muslim leaders, especially the Arabs, who remain silent over the aggression of the zionist regime simply because their positions are supported by the US. In other words, they are just puppets serving US interests; they will only act if the US asks them to act. If these puppets happen to give a very strong warning against the zionist regime, the zionists take it as a joke because they know these Muslim leaders are just puppets of the US. And this is most definitely true because each time we see aggression by the zionist regime against the Palestinians, these puppet leaders, without shame, would repeat the same rhetoric speech against the regime, without any action.   

In conclusion, the oppression upon our brothers in Palestine will not stop so long as the Muslims still believe in the UN. What we need are leaders that follow the steps of Khalifah Umar Al-Khattab and Salahuddin Al-Ayyubi - liberate Palestine through Jihad because Jihad is the only way to liberate Palestine from the occupation of the zionist regime.   

Virus COVID-19

Tiada siapa yang menyangka bahawa dalam era di mana dunia sedang mengecapi perkembangan sains dan teknologi yang begitu canggih, terdapat sejenis virus yang diberi nama COVID-19 telah menyebabkan jutaan manusia terkorban dan ratusan juta telah dijangkiti. Ironinya, Amerika Syarikat sebagai negara paling maju, menjadi negara yang paling tinggi jumlah jangkitan dan turut menjadi negara paling tinggi dengan jumlah kematian akibat jangkitan virus COVID-19. Begitu juga dengan negara-negara maju di eropah seperti Britain, Perancis, Jerman, Itali dan Sepanyol turut tersenarai sebagai negara yang mempunyai jumlah jangkitan dan kematian yang tinggi. Setelah lebih setahun virus COVID-19 mula dikesan, masih belum ada petunjuk yang jelas bahawa virus COVID-19 dapat dihentikan sepenuhnya meskipun vaksin telah berjaya dihasilkan oleh beberapa buah negara. 

Ternyata virus COVID-19 telah memberikan impak yang sangat besar terhadap kehidupan manusia, impak yang tidak pernah terbayang akan berlaku. Tiada siapa yang menyangka, hanya kerana dengan sejenis virus, jutaan manusia terpaksa dikurung di rumah masing-masing selama berhari-hari bahkan ada yang sampai berbulan-bulan. Hanya kerana sejenis virus, ekonomi negara di seluruh dunia hampir lumpuh, ribuan perniagaan telah gulung tikar, jutaan manusia hilang pekerjaan dan sumber pendapatan. Hanya kerana sejenis virus, rutin kehidupan manusia berubah dengan sangat drastik, seperti tiada lagi kehidupan sosial. Hanya kerana sejenis virus, manusia hidup dalam penantian dengan persoalan apakah masih ada harapan pada hari esok. 

Impak pandemik COVID-19 yang sangat besar telah menyebabkan dunia seolah-olah berhenti berputar, kehidupan manusia menjadi suram dan hingar-bingar dunia menjadi sepi. Setiap hari kita dihidangkan dengan berita-berita yang menakutkan seperti kadar kematian semakin meningkat, ekonomi dunia merudum, semakin ramai yang hilang pekerjaan, sistem kesihatan hampir lumpuh, semakin ramai menghadapi masalah kesihatan mental dan banyak lagi. Pada awal penularan, negara-negara maju seperti terkedu dan tidak pasti bagaimana untuk memberikan reaksi terhadap virus COVID-19. Mereka seperti tidak dapat menerima hakikat bahawa kecanggihan teknologi sistem kesihatan yang mereka miliki tidak dapat menghalang virus COVID-19 daripada menimbulkan masalah kesihatan yang serius dalam negara mereka. Ditambah pula dengan rakyat mereka yang sudah sebati dengan idea kebebasan serta tahap kepercayaan pada kerajaan yang rendah menyebabkan langkah lockdown (kawalan pergerakan) yang di laksanakan oleh kerajaan mereka tidak dipatuhi dengan baik. Ini menyebabkan virus COVID-19 turut tersebar dengan sangat pantas dan tidak terkawal di negara-negara maju seperti Amerika Syarikat dan Eropah.

Jepun sebuah lagi negara yang sangat maju dengan perkembangan sains dan teknologi juga sedang bergelut untuk membebaskan negara mereka daripada virus COVID-19. Sangat terdesak dengan tekanan sebagai tuan rumah sukan Olimpik Tokyo 2020 (telah ditangguh ke Julai  2021), kerajaan Jepun telah berusaha semaksima yang boleh untuk merelisasikan penganjuran sukan Olimpik Tokyo. Mana tidaknya RM83 bilion telah dilaburkan untuk persiapan penganjuran sukan tersebut. Namun,  peperangan menentang virus COVID-19 di bumi Ultraman masih belum ada tanda-tanda akan reda sepenuhnya dalam masa terdekat ini walaupun komitmen yang sangat tinggi telah dicurahkan oleh kerajaan Jepun.

Di sebalik apa yang berlaku kesan daripada virus COVID-19, menunjukkan keterbatasan dan kelemahan yang ada pada diri manusia. Sejauh mana kehebatan teknologi yang berjaya dihasilkan oleh manusia, hakikatnya ia jauh terlalu kecil jika ingin di bandingkan dengan  alam semesta yang dicipta oleh Allah SWT, bahkan manusia itu sendiri adalah ciptaan Allah SWT. Tetapi manusia sering menjadi sombong dan alpa dengan apa jua kelebihan yang dimilikinya, seoalah-olah dapat mengawal dan menentukan segala-galanya. Pandemik COVID-19, memperlihatkan kekayaan yang dimiliki oleh manusia boleh hilang dengan sekelip mata sahaja, hanya kerana sejenis virus. Begitu juga dengan kegembiraan dan keseronokan yang dikecapi dengan bermacam-mana aktiviti sosial, hiburan dan sebagainya, boleh terhenti secara tiba-tiba tanpa diduga.

Begitulah juga dengan hidup manusia, setiap yang bernyawa pasti akan mati, kematian datang tanpa diduga kerana ianya diluar dari kawalan manusia. Apabila ianya tiba, maka segala-gala yang dinikmati di dunia ini akan terhenti selama-lamanya, tidak ada jalan pulang atau peluang untuk kali kedua. Oleh itu, selain daripada perlu berikhtiar bersungguh-sungguh menangani pandemik COVID-19 agar kehidupan kembali normal seperti sedia kala, manusia harus sedar bahawa terdapat banyak perkara dalam kehidupan ini yang jelas menunjukkan manusia adalah makhluk yang lemah dan terbatas sifatnya. Hanya dengan sejenis virus, kehidupan manusia menjadi tidak tentu arah. Adakah manusia yang lemah dan terbatas sifatnya  layak untuk menghasilkan sistem kehidupan yang baik? Sudah tentu tidak. Sedarkah kita bahawa sistem demokrasi, kapatalis yang berasaskan kepada akidah sekular merupakan sistem kehidupan ciptaan manusia? 

Belenggu pemikiran barat bukan sahaja telah menyebabkan umat Islam memilih untuk diatur dengan sistem kehidupan ciptaan manusia. Tetapi, turut merasakan bahawa Islam tidak menunjukkan secara khusus dan terperinci sistem untuk mengatur kehidupan manusia sehingga berpandangan bahawa tidak salah untuk memilih apa jua sistem yang ada seperti sistem demokrasi dan sistem kapitalis. Jauh lebih parah, ada merasakan bahawa sistem Islam yang di amalkan oleh Rasulullah SAW dan para Khalifah sesudah baginda sudah tidak relevan untuk diamalkan ketika ini. Tidakkah mereka sedar bahawa Islam adalah agama yang diturunkan oleh Allah lengkap dengan sistem kehidupannya sekali. Hanya dengan sejenis virus sahaja, kehidupan di seluruh  manusia sudah seperti tidak keruan, sangat bongkak dan tidak sedar diri jika merasakan manusia layak untuk menghasilkan sistem kehidupan yang lebih baik daripada sistem kehidupan yang diturunkan Allah SWT.

Anda Mungkin Meminati

1. The influence of global economy on the path of Malaysian economic recovery

2. Campur Tangan Amerika Syarikat Dan Kuasa-kuasa Barat Ke atas Negara Umat Islam

The influence of global economy on the path of Malaysian economic recovery

Even though Malaysia seems to be on the right track in combating COVID-19 pandemic, but the situation globally largely heading towards a different direction. The Malaysian government had put high commitment to curb COVID-19 pandemic by implementing several stages of movement control order (MCO). As a result, the curve of new COVID-19 cases was successfully flattened over a period of time. After the implementation of MCO over the period of three months, in which has inevitably harmed the economy,  it was estimated that Malaysia lost 2.4 billion ringgit each day due to the restriction imposed under MCO.  

In order to recover from the damages caused by the COVID-19, Malaysian government has implemented the Recovery Movement Control Order (RMCO) from June 10th to August 31^st, 2020. Recovery is the fourth stage under the ‘6R approach’ employed by the Malaysia government to contain COVID-19. To achieve the objective of the recovery stage, Malaysia has issued economic stimulus package, known as  the “Pelan Jana Semula Ekonomi Negara” (PENJANA), which primarily aimed at helping businesses to recover from the negative impact of the COVID-19 pandemic. This recovery stage is critical and crucial to determine the success of the government’s efforts  in managing the impact of COVID-19 pandemic to the country.

Apart from political stability, the economic condition in other countries is also important in determining the success of PENJANA towards achieving economic recovery in this country. This is based on the fact that Malaysia is practicing open economy, which is very much influenced by the global economic environment. Malaysian economy cannot survive without export and import activities, foreign direct investments (FDI), tourism and other sectors that are related to international trading. Therefore, the stability and the success of the other countries in containing COVID19 pandemic is very important towards economic recovery in Malaysia.    

It is evident that the global trend of new COVID-19 cases is still increasing. Some countries like the United States of America, Brazil and India, the total number of cases was reported to reach more than 1 million cases among their citizens and in total, more than 500 thousand fatalities were reported globally. This situation rendered all countries in the world to face difficulties the efforts towards economic recovery. Therefore the global economy will continue to slowdown and resulted in an unhealthy economic environment. 

 

As such, how can Malaysia be able to recover its economy? Malaysian economy is very much dependent on international trading. The electrical and electronics (E&E) industry, for example, is a key driver of Malaysia's industrial development and contributes significantly to growth of GDP  export earnings, investment, and employment. The sustainability of this industry is very much dependent on the demand from other countries such as China, US, Singapore, Hong Kong, and Japan. This scenario is similar to the palm oil industry. Being one of the largest producers of palm oil in the world, Malaysia’s revenue from palm oil is very dependent on the export. China and India, both being the main exporters, are struggling to contain COVID-19 pandemic. As the result, the economic growth in their country is not encouraging them to create domestic demand, including demand on the products from the palm oil industry.

In addition, the temperature of confrontation between the United States and China which is increasing lately, has resulted in a more challenging and unstable global economic environment. The confrontation between these two largest economy in the world will put Malaysia’s economy under pressure because Malaysia needs both countries to stimulate its economy. Malaysian economy will be in trouble if Malaysia breaks its trading with any one of these two countries. Therefore, Malaysia needs to maintain its good relationship between both the United States and China. This situation will create more uncertainty to the Malaysian international trade, especially with the United States and China. This will eventually cause negative impact to the Malaysian economy in general.

As the conclusion, since the design of Malaysia economy inherited from British colonization days is very dependent on the export of its commodity and primary products for manufacturing sector, therefore the resilience of Malaysian economy is significantly influenced by the global economy.  It is very hard for Malaysia to recover economically despite having good domestic recovery plan and successfully implemented it. This is because Malaysia cannot control the external factors that influence the global economy.

One of the solutions to create a resilient Malaysian economy and not very much influenced by the external factors is by creating strong domestic demands and increasing its capability to develop new technology to produce end products. However, under current world order which is largely shaped by free market in capitalism and nation states which has divided the Ummah into small and dependent states, the Ummah are incapable to tap into their full potentials. Therefore, apart from employing economic approaches, there is an urgent need for a systemic change which requires political will to unite the ummah under a new leadership towards creating a new world order based on the Islamic aqidah and the systems that emanate from it.

 

 

Challenges in Reviving the Malaysian Economy from the Impact of COVID19

The main challenge for the current Perikatan Nasional (PN) government to implement the plan of reviving the economy due to the impact of COVID19 is political stability. Since the current Prime Minister Tan Sri Muhiyidin Yassin took the job in March, he has yet to prove his government’s majority in Parliament. The question of whether he has enough majority support from the Members of Parliament (MP) is still not answered yet. That question can only be answered if the Parliament meeting is able to be held as normal. Based on the fact that full parliament meeting will allow the opposition party to propose non-confident vote against Tan Sri Muhiyidin Yassin in the Lower House of Parliament. One cannot be imagine, how Perikatan Nasional will be able to handle the impact of COVID19 towards the Malaysian economy without holding a strong position as the government.

The impact to the economy caused by COVID19 is more serious compared to the Asian Financial Crisis in 1997/98. During the Asian Financial Crisis, the government lead by Dato Seri Dr Mahathir was a stable government with 2/3 majority in Parliament, even though was faced pressure from the Reformasi movement. In that position, Dr Mahathir was able to be more focused to find a solution to resolve economic impact of the Asian Financial Crisis. All the economic plans were successfully able to achieve the goals recovering the economy due to the political stability. Logically, since the impact of COVID19 is worse compared to the Asian Financial Crisis in 1997/98, a stronger government is needed to carry the responsibility in facing the impact of COVID19 towards the Malaysian economy.

Therefore, forming a strong government is very crucial for Tan Sri Muhiyidin Yassin in order to execute Perikatan Nasional’s planning to revive the Malaysian economy post COVID19 outbreak. Based on the experience of the Financial Crisis in 1997/98, without a strong government, the Malaysian economy will not be able to revive from the impact of COVID19 outbreak. The 6R (Resolve, Resilient, Restart, Recovery, Revitalize and Reform) economic recovery plan strategy introduced by Tan Sri Muhiyidin Yassin’s team to revive the Malaysian economy is currently at the recovery stage. The successfulness of the implementation of the first 3R (Resolve, Resilient and Restart) is now being tested in the recovery stage, whether all the business and industries are able to recover or not will be known at this stage.

As we have witnessed, Tan Sri Muhiyidin Yassin’s team has been working very hard and show their capability in handling the COVID19 outbreak through the implementation of Movement Control Order (MCO) and introduced several economic stimulus packages. But the continuity’s of his team planning is very much depending on their political stability as a government. A lot of hard work and cost was spent on the war against COVID19 outbreak by Tan Sri Muhiyidin Yassin team. Now their planning at the stage recovery to see whether the first 3R was success successful or not will be ensure at this staged. Recovery stage is crucial and needs a lot of effort’s as well as focus to make sure it can be execute as being planned. But, Tan Sri Muhiyidin Yassin government is currently facing tough pressure from the opposition party. Opposition party which now known as Pakatan Plus seem very active in doing the political manoeuvre to topple the current government. However, in Pakatan Plus are also having their internal problem to name the Prime Minister candidate, either Tun Mahadir or Dato Sri Anwar Ibrahim. 

Even though Tun Mahathir only has a small team from Bersatu with him in Pakatan Plus, but he still has a powerful influence to challenge Datuk Seri Anwar Ibrahim as the Prime Minister candidate. This is indeed a strange situation whereby PKR is the dominant party but Tun Mahathir with an only a small team is able to influence the decision of Pakatan Plus to make him as Pakatan Plus’s Prime Minister candidate. Some PKR leaders and supporters are dissatisfied with that situation and they insisted that PKR’s way forward is never to let PKR and Datuk Seri Anwar Ibrahim “be taken for a ride ever again”. Datuk Seri Anwar Ibrahim seems not only not get firm support from his old friends from DAP and Amanah to be Prime Minister candidate but that is also get pressure from inside his party from ‘Azmin’s people'. With the principle of democracy, we can see a lot of new fractional political parties being established, which made a lot of negotiation and compromise needed to form a coalition, fragile coalition.

All this political scenario indicate that political stability in Malaysia far to achieve. It also shows that the struggle to gaining power among politicians will always continue nor matter in what the situation is. Everyone calls for united in their definition, when are they in power, they define united as working together with them and stop going against them. When they are not in power, they define united as a struggle to build a better country and topple the corrupt government. Then, there is no ending going against each other and unity remain a fantasy. Therefore, there is no hope that we are able to have a better life under capitalism and democracy. The tough life we face now will continue and will sure became tougher if our lives are still managed by the same system.

That is the design of the political system of democracy used in our country today. Day by day it shows its weaknesses and limitations. The main problem is the system itself. Democracy is a system designed by human, of courses, it is full of weaknesses and limitations. The best system to manage human life must be from Allah and the system is Khilafah.