It’s quite common to see comparison being made about wealth between races in Malaysia. However, none of the comparison has really been meaningful.
Some perceive that Malaysian Chinese are wealthy and the Malays are poor. However the fact is, majority of Malaysian Chinese are working class. According to the 2016 data from the Department of Statistics, the proportion of working class amongst Malaysian Chinese and Malays is largely similar (Malaysian Chinese = 70%; Malays =72%). Disparity and uneven distribution of wealth is an issue that happens across races.
Hence, it is inaccurate to conclude that any race is wealthier than another.
Pakatan Harapan won big in GE14 and brought about two party system in Malaysia for the first time; and it is large attributable to various economic issues that were hurting Malaysia. Deteriorating purchasing power, increasing cost of living, non-corresponding income level are issues still faced by all Malaysians.
Hence, we should draft and implement our economy policies not based on race, but based on who needs them.
The policy makers are supposed to understand the economic challenges faced by each class and segment of the society, and make policies that can help the whole class or segment, without discriminating and dividing them by race.
Need-based economy policies would ensure the most vulnerable group gets help from the government and benefit from our policies. By channeling help to the needy, we can elevate the vulnerable and poor to where we want them to be.
A fair, need-based economy policy is what Malaysia needs right now.