Dubai is facing financial collapse? Dubai has $80 billion in foreign debt. State investment conglomerates cannot return it and real estate price dropped by 50%. Why??? That’s what you get when you are not reinvesting on your own people and keep listening to Anwar’s liberal friend’s ideas.
Of course there will be a lt of mumbo jumbos and blab la like bubble and all from western economists.
For me, I would like to look it in a very simple way. If those rich Arabs, invest on their own people which the Arab majority like DEB, those lower class Arabs level could be alleviate to higher level to middle class. And those middle class level could be alleviate them to higher level, and these people which there will be more domestic people spending power. And then, at least could recover some of those foreign that have packed their bags and went home.
And these rich Arabs have forgotten their own brethren, which facing trouble and hard times like in Iraq and Palestine.
It is sad to see that those development contracts were majority awarded to foreigners instead their own and due to this, almost all of those money were siphoned out through respective contracts that have been awarded 100% to foreigners. If they retain 30% of it thru a more controlled and balanced protectionism system, the bad situation could be relaxed a bit and there might be some new rich Arabs that could afford to buy houses that have been cancelled by the foreigners.
Basically, this is one of the lesson learned that happened around us. We can’t be too liberal in everything we do, sometimes the system need to be regulated and controlled to protect the population first.
Therefore, I would like to say “NO” to Anwar liberal system cause it wont work. And we have learn and saw what happened.
To be fair to PR, PR could be better alternative or performer in our country if they start to abandon the all out western system that they are currently promoting. They need to create or tailor made policies that are more close to the locals than making or taking blue print policies of the west. But I doubt the current leadership of PR willing to do that, especially Anwar.
Talking about Hudud that PAS talking about. I doubt it will happened cause PAS didn’t play a very dominant role in PR and they couldn’t be bothered to develop the systems that need to support Hudud idea like it beauraucracy, forensic system, economic instruments, etc. PAS prefer to cut and paste Quranic words around and talking about it rather than research it further and trying to implement. Even one of their partners said “over my dead body” if want to implement Hudud, and to make things worst, the guy who said this, is the chief defence in Anwar court issue. From here I can see Anwar will listen to that guy, more than Nik Aziz. And that’s the fact.