Saturday, February 29, 2020

Achievements Towards Wawasan 2020 So Far Economics Essay

Achievements Towards Wawasan 2020 So Far Economics Essay The implementation of such a great idea was and is still thought to be impossible by many Malaysians. The skepticism of many was understandable, but, as the saying goes, â€Å"Rome was not built in one day†. The initial efforts needed to bring the Wawasan 2020 vision to life had already been started since the early nineties. Many if the challenges set by Tun  Dr.  Mahathir have seen light in various forms, starting with some of the main challenges, being â€Å"Establishing a united Malaysian nation made up of one Bangsa Malaysia† and â€Å"Establishing a matured liberal and tolerant society† One Malaysia (1Malaysia) This particular goal is being implemented through the 1Malaysia programme, which is mostly being used as a catalyst for the Wawasan 2020 idea. The 1Malaysia programme was designed by Malaysian Prime Minister  Najib Tun Razak  on 16 September 2010, calling for the cabinet, governmental agencies, and civil servants to more strongly emphasize on ethnic harmony, national unity, and efficient governance. An official logo and slogan has been introduced along with the commencement of 1Malaysia concept. The logo is the symbol of ‘1’ which includes the national  flag and the word Malaysia. The Malaysian government has spent RM 38 million to promote the 1Malaysia concept in 2010 (Joseph Sipalan, April 2011). http://upload.wikimedia.org/wikipedia/en/thumb/4/4b/1Malaysia.svg/100px-1Malaysia.svg.png The 1Malaysia Logo Moreover, the slogans for the 1Malaysia concept have been changing each year. The slogan for the beginning of the promotion campaign for the program, in 2009, was: † Rakyat Didahulukan, Pencapaian Diutamakan  (People First, Performance Now)† In 2010, it had been changed to: â€Å"Menjana Transformasi  (Generating Transformation)† In 2011, the slogan was: â€Å"Transformasi Berjaya, Rakyat Sejahtera  (Transformation Successful, People Prosperous)† For 2012, the slogan is: à ¢â‚¬Å"Janji Ditepati  (Promises Fulfilled)† Many of the other challenges stated by Dr.  Mahathir in his Wawasan 2020 concept have been implemented through the 1Malaysia initiative. For example, the 1Clinic programme was implemented under the 1Malaysia initiative and goes in line with one of the challenges set by Dr. Mahathir, being, â€Å"Establishing a fully caring society†. 1Malaysia Clinics have been launched in several areas across Malaysia and provide basic medical services for illnesses and injuries such as fever, cough, colds, wounds and cuts, diabetes, and hypertension. Malaysia citizens are charged RM1 for treatment and medication. Non-citizens are charged RM15. There currently are 119 1Malaysia Clinics in Malaysia so far, and the Malaysian Ministry of Health is planning to increase this number to 175 by the end of 2012. (Minister Datuk Seri Liow Tiong Lai, The Star, September 2012) Malaysian Economics One of the important points in the Wawasan 2020 project is the 7% per annum growth over the 30-year period. If the targeted growth is reached within the planned timeframe, the Malaysian GDP or gross domestic product would increase from RM115 billion in 1990 to RM920 billion by 2020 (â€Å"The Way Forward†, Prime Minister’s Office, November 2008), in increase nearly by eight. Alongside, the population is estimated to have a slow increase to around 32 Million at an average of 1.9 percent per annum during the period. This wished-for increase in output and the slower expected growth of the population will result in the per capita income steadily rising from RM 6,180 to RM 26,100 by 2020- ranking Malaysia among one of the high income nations.

Wednesday, February 12, 2020

Review of the Book Economics in One Lesson Essay

Review of the Book Economics in One Lesson - Essay Example Unfortunately, most of the time this fact is always hidden because bad loans made by the government are hidden in most federal spending. On the other hand, when banks collapse due to bad loans, it is announced all over the news. Political considerations further hide the bad loans as a result of government lending. This does not happen in the private sector unless the firm in question is affected by a politically motivated legislation. The community reinforcement act is an example of a legislation that advocates for loans to individuals who do not qualify. The book cites the Bush administration endeavors to ensure that banks lend more money. Based on the current times, Hazlitt argues that tariffs such as NAFTA are harming the economy. Hazlitt states that both consumers and producers are hurt by the tariffs. His argument is the opposite of the common notion that tariff affects consumers only. He explains that tariff forces consumers to pay much higher than they could have had to pay wi thout it. This means the extra dollar spent due to the tariff could have been used elsewhere. Therefore, this denies producers of other goods and services that dollar. Tariffs are aimed at protecting local industries against competition from foreign goods. On the other hand, imports are good because they provide other countries with local currency necessary for buying domestic goods Hazlitt addresses the economic impact of government actions and remains silent on protectionism due to national security. He states that the real gain from foreign trade for any country lies in its imports and not its exports (Tom the Redhunter para 11). He supports his statement by arguing that businessmen imports products because they are cheaper for the consumers compared to domestic products.... This paper offers a comprehensive review of the book Economics in One Lesson by Henry Hazlitt. The book introduces the common man to simple and clear economic thought. The author does not object public program spending but rejects the use of public projects as a plan of injecting money into the economy. He argues that public projects should be justified based on their importance to the economy. Based on the current times, Hazlitt argues that tariffs such as NAFTA are harming the economy. Hazlitt states that both consumers and producers are hurt by the tariffs. His argument is the opposite of the common notion that tariff affects consumers only. He explains that tariff forces consumers to pay much higher than they could have had to pay without it. Hazlitt addresses the economic impact of government actions and remains silent on protectionism due to national security. He states that the real gain from foreign trade for any country lies in its imports and not its exports. The book also addresses the fallacy that cost of production determines the market prices. Hazlitt argues that demand and supply determines the market price. Bailouts are necessary to save collapsing industries. The book lays emphasis on the importance of extensive analysis of both primary and secondary consequences of proposed policies. The free economy needs to be revived by removing unnecessary government intervention but still maintain important interventionism. The government needs to learn from past mistakes so as to make better informed decisions later.

Saturday, February 1, 2020

MKT Assignment 02 Essay Example | Topics and Well Written Essays - 750 words

MKT Assignment 02 - Essay Example Gucci. Prada. Louis Vuitton. Coach. Herms. Chlo. Not anymore. Price - a meaningless word in accessories and leather product industry - is one now echoing deep. Interestingly, feminine sensibility has changed at industry's heels or, conversely, has prompted an unlikely change. Handbags - a long-standing feminine companion, a stamped LV projected for all eyes to see - have given way to shoes. In response to current crisis, major brands are working out marketing strategies stressing less on "new" and more on loyalty to existent classic offerings. Wall Street Journal Magazine qualifies current economic crisis as "Fact": Evidence suggests that after a long shopping hiatus last winter and spring, consumers have been tiptoeing back into stores to buy shoes, handbags and sunglasses, selectively [emphasis added]. (Bannon) "Selectively" is, in fact, telling. Indulgent consumers, losing huge financial assets, are psychologically speaking no longer interested in luxury per se but to keep up an image damaged hard in elite circles. In response, industry giants are adjusting to perceived shifts. Thus, a Prada bootie priced at $800+ during shopping splurge heydays now costs $495. Yet, bags are a standalone symbol for femininity - hence industry's, led by Louis Vuitton's, marketing strategy to enhance brand image of classic models. Saks Fifth Avenue and Chlo are following suit. Interestingly, an industry traditionally geared up to high-end, well-off, older consumers is currently turning to 18-to-25-year-olds stamped -by luxury industry - as "bunkie". Coach's Poppy - featuring sequins, jewels, bright colors, logos and metallics - is a clear example. Notwithstanding Coach's turn to, well, "bunkies" Poppy's features still retain an industry's hold [Insert Your Last Name] 2 on luxury values. Thus, in a mix of new market segmentation and pricing strategies, accessories industry eyes unlikely (untapped) markets during business-as-usual days. Yet, some big brands (e.g. Bottega Veneta) still refuse, at all costs, to compromise on price and stress more on quality and value. Consistently, Italian manufacturers show reluctance to offshore - an indication of still entrenched Italian all-in-the-family business culture. Major retail stores in major markets such as U.S. have, however, responded more briskly catering to more diverse global consumer segments. Indeed, one great opportunity current economic crisis offers to accessories industry leaders is including broader global market segments formerly inadequately served. Historically, market segments for accessories industry have taken as central to global marketing strategy North America, Western Europe, Australia, and Russia. As part of global marketing strategy, global brands such as mentioned above have enjoyed constant featuring in major fashion weeks in Paris, London, Milan and New York. Comparatively, little attention has been directed to emerging fashion weeks in Middle East (e.g. Dubai Fashion Week) and Indian Sub-Continent. In current global economic situation rethinking global marketing strategies becomes a mandate not only for expansion and growth but even for survival as global tastes