Malaysia Politics
- Submitted by: kellyzeng18
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- Category: Politics: Political Science
- Date Submitted: 11/06/2015 09:04 AM
- Pages: 6
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Thousands protest against Najib Razak’s management of the economy
Thousands protest against Najib Razak’s management of the economy
Prime Minister Najib Razak
Prime Minister Najib Razak
Lately Malaysia has been experiencing what some may say to be a “political mega crisis”. Prime Minister Najib Razak is suspected for a 1MDB investment fund scandal which he looks over. When Mr. Razak founded 1MDB in 2009, he assured it would jump-start new industries and turn Kuala Lumpur into a global financial center. Instead, the fund invested in power plants overseas and financed energy joint ventures that failed succeed. This year, the fund has caused more trouble than support. Instead of all the money that is supposed to be sprawling in to aid Kuala Lumpur into becoming a global financial centre, the fund has debt payments that they must reschedule. For several months there have been concerns about 1MDB’s debt and their lack of liquidity (transparency) has been the subject of political discussion. This situation has got to the point where he has been asked to step down from his position in the government. A prime minister has never been openly pressured to step down amongst a high-level probe in the past. In addition, it is not common for there to be a serious investigation into the handling of government-linked investment funds whose chief adviser is the finance minister and a prime minister at the same time. Mr. Razak is fighting for his political life through severe criticisms by dismissing his vocal deputy prime minister and the Attorney-General who led a high-level probe. This sudden turn has left the country bracing for uncertainty.
Not only has the Prime Minister been suspected for a 1MDB investment fund scandal, but he has also broken many promises that he made during (to win) his campaign. One of the promises that he made during this campaign was called 1Malaysia. It focused on uniting the different cultures in Malaysia by saying that he cares about...
Thousands protest against Najib Razak’s management of the economy
Prime Minister Najib Razak
Prime Minister Najib Razak
Lately Malaysia has been experiencing what some may say to be a “political mega crisis”. Prime Minister Najib Razak is suspected for a 1MDB investment fund scandal which he looks over. When Mr. Razak founded 1MDB in 2009, he assured it would jump-start new industries and turn Kuala Lumpur into a global financial center. Instead, the fund invested in power plants overseas and financed energy joint ventures that failed succeed. This year, the fund has caused more trouble than support. Instead of all the money that is supposed to be sprawling in to aid Kuala Lumpur into becoming a global financial centre, the fund has debt payments that they must reschedule. For several months there have been concerns about 1MDB’s debt and their lack of liquidity (transparency) has been the subject of political discussion. This situation has got to the point where he has been asked to step down from his position in the government. A prime minister has never been openly pressured to step down amongst a high-level probe in the past. In addition, it is not common for there to be a serious investigation into the handling of government-linked investment funds whose chief adviser is the finance minister and a prime minister at the same time. Mr. Razak is fighting for his political life through severe criticisms by dismissing his vocal deputy prime minister and the Attorney-General who led a high-level probe. This sudden turn has left the country bracing for uncertainty.
Not only has the Prime Minister been suspected for a 1MDB investment fund scandal, but he has also broken many promises that he made during (to win) his campaign. One of the promises that he made during this campaign was called 1Malaysia. It focused on uniting the different cultures in Malaysia by saying that he cares about...