The word 漲 (meaning inflation) has been chosen as the Chinese character of the year 2013 for Malaysia, clinching 36% of votes to beat other nine candidates for the best word describing the feelings of majority of Malaysians this year.
The word aptly reflects the feelings of many Malaysians, with prices of petrol and sugar, assessment rates, electricity tariff and toll charges all about to increase. The public and business operators are covered under a miserable atmosphere.
Food prices, closely related to people's living, have been repeatedly increased.
From years of observation, when the people are financially comfortable, high-priced food is more popular.
During economic downturn, however, nasi lemak sells fast as everyone starts to tighten their pockets. Cheap and delicious nasi lemak has then become the first choice of students and low-income earners. The sales of nasi lemak can actually become an alternative economic indicator.
In recent days, even nasi lemak prices have quietly surged, meaning that even the minimum consumption has been increased and the value of money has shrunk.
The country has gone through a few times of price hikes this year and some businesses have raised several times the charges for their goods. Some who originally planned to increase prices during the Lunar
New Year were unable to wait any longer and thus, raised good prices. The price hike tide is expected to reach its peak during the Lunar New Year but who knows whether it is really the peak.
Price hikes bring impacts not only to local people but also foreign investors. Since the country is going to implement the minimum wage system and raise electricity tariffs next year, a few foreign manufacturers might move to other countries. It cannot be considered as isolated cases as the withdrawal of foreign investment could bring long term effects to the country's economy.
The domino effects brought by price hikes should not be underestimated. Inflation will weaken national purchasing power and even though everyone's tolerance for inflation varies, they will inevitably spend carefully. It hits domestic demand and thereby, affects various industries, as well as economic growth.
The year 2014 is expected to be high in inflation and low in growth. If the situation goes out of control, we might have to face a depression era.
It means that other nine candidates for the Chinese character of the year 2013, namely 黑 (black), 亂 (chaos), 變 (transform), 選 (election), 貪 (greed), 憂 (worry), 換 (change), 苦 (suffering) and 爭 (fight) might also be able to describe the situation in the future.
Inflation brings the people suffering and worries. Why inflation? It might due to activities in the dark and corruption driven by greed. Since people can no longer stand for the inflation, they ask for transformation and changes through election. There might be people creating fights and chaos amidst inflation.
Perhaps, the word 漲 can be re-elected since the people have been hit by waves after waves of price hikes. – mysinchew.com,
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