Murray Hunter on the World Economic Forum (WEF)

• "What the WEF offers Malaysia must be studied very carefully. Otherwise the new government will end up creating more ‘white elephants’ that benefit only a few"
  

• "The industry 4.0 initiative is likely to make some consultants rich and allow a small number of bureaucrats to travel around the world in the name of studying the Industry 4.0. concept. History shows what happened to Malaysia’s multi-media and biotech initiatives. Industry 4.0 is likely to go the same way" - Murray Hunter.

 

 

https://murrayhunter.substack.com/p/how-much-influence-will-the-world

 

                                Klaus Schwab (3rd from left) founder of the World Economic Forum

 Perjanjian Baru?

 

.. elevation to prime minister now puts him in an exclusive club of world leaders. 

.. has long been close to WEF president Klaus Schwab and his organization.

Some of the world leaders strongly associated with the WEF include, Chinese vice president Wang Qishan, Prince William, following on from his father King Charles (UK), Jacinda Arden (New Zealand), Giuseppe Conte (Italy), Sebastian Kurz (Austria), Leo Varadkar (Ireland), Pedro Sanchez (Spain), Cyril Ramaphosa (South Africa), Mark Rutter (Netherlands), and Erna Solberg (Norway), just to name a few.  

What is of concern is how much influence will the WEF have in Malaysia? 

WEF ideas that are perhaps suitable in some countries, may not suit the Malaysian context. Take for example ‘Industry 4.0’. A 4IR centre is being set up in collaboration with the WEF in Malaysia now.

The Ministry of Finance promoting the project claims on its website that the 4IRC will expedite technology adoption, spurring on a more equitable, inclusive and sustainable growth in Malaysia.

The opposite may be the case.

With more than 1 million micro small and medium enterprises registered with the Registrar of Companies (ROC) in Malaysia, the majority of them are sole proprietorships, struggling to operate hand to mouth after the devastating MCOs last year. Most are labour intensive, utilizing family labour, struggling to pay monthly wages.

The 4IRC may be able to assist some of the larger corporations, that already have the means to adopt Industry 4.0 technologies. The rest don’t have the financial ability to invest in expensive technologies that don’t really solve their immediate and mid term issues.

The industry 4.0 initiative is likely to make some consultants rich and allow a small number of bureaucrats to travel around the world in the name of studying the Industry 4.0. concept. History shows what happened to Malaysia’s multi-media and biotech initiatives. Industry 4.0 is likely to go the same way.

Resources must go to the communities to make any real economic and social difference.  

What the WEF offers Malaysia must be studied very carefully. Otherwise the new government will end up creating more ‘white elephants’ that benefit only a few.  

 

My Comments :

 Perjanjian Lama.

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.