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Friday, February 29, 2008

Don't want, or don't need to subsidize?

This is from the article, BN not cobbled together for political expediency, in The New Straits Times Online by Hardev Kaur about the coming election in Malaysia.

The world trade talks under the auspices of the World Trade Organisation are stalled, if not dead. Protectionist sentiments are on the rise; so, too, inflation pressures. In Singapore, consumer prices are at their highest since 1982. In other countries in the region - Thailand and Indonesia - they are at a multi-year high and prices are rising faster than interest rates.

Malaysia, which is one of the most open economies and highly dependent on trade, has been able to stand up well. Government policies and subsidies have cushioned much of the price rises. The government spends some RM81 billion on various subsidies, including food and fuel.

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