Malaysia- The TRUTH and reality of its low per capita GDP...
#4

(12-11-2023, 02:52 PM)sgbuffett Wrote:  Kuala Lumpur is now the no. 1 destination for Japanese migration. We are not talking about happy tourists like iChang whose videos have promoted Malaysia as a tourist destination to Japan but  thousands of digital normals seek a good place to work and live.

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Malaysia as a country is not yet a developed country. Yet when you look at KL the per capita GDP is US$30K this year and the per capita GDP of a developed country is US$15K. KlL is on par with Spain and Italy and exceeds many parts of Europe. Not only that the lower cost of living and taxes there means the residents enjoy higher purchasing power than the whole of Europe and Singapore when one looks at purchasing power  parity. For example a worker with median salary in KL can easily afford a car and freehold condo but this has become an impossibility in Singapore for the average Joe.


I know many will be offended if I say the average person in KL.has a better life than the average person jn Singaporean. Itbis something mentally hard to accept due to pride and prejudice...and a tinge of rivalry and arrogance in our hearts but it is what it is. 

Malaysia as a whole has low GDP because a large part of its populace lives in rural areas earning farmers salary and refuse to move to the cities due to many  generations of living off the land and sea - they just continue to keep the tradition. There is no "great exodus" like in Singapore history where hundreds of thousands were resettled from large farms and villages to small HDB flats under the Land Acquisition Act where the govt took back the land for our reserves paying non market prices.

Malaysia indeed has a serious problem of indecisive govt that does not force the people. Hence causing the people to lead a laid back life instead of striving for higher GDP for the country and to push up property prices. Malaysia under Anwar will be no different.

Why Malaysian news recently talking up they cannot retire in Malaysia? 🤔
After withdrawal of EPF during covid.

Who is telling the truth?
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