Malaysia ranked 2nd on The Economist's crony-capitalism index
Posted Mar 14, 2022, 7:30 AM UTC
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It's funny that South Korea is that low considering what happened to Hyundai and Samsung bosses.
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I guess you are not the crony of the country's government if the government is your crony lol
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Like america?
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The fact that we're aware about Hyundai and Samsung bosses shows that at least their media is independent.
The danger is when there's no corruption scandals that get exposed in a country.
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The crony vs non crony rating actually will tell more, not to mention that the amount that is considered crony is low.
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A high the non-crony percentage isn't much to be proud of either. Best would have zero crony and zero to low non-crony, IMHO.
4
I think this measures quantity not quality
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Hell yeah bois behind motha russia. Im so proud let me kibar my jalur gemilang.
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Putin soldier shot a older couple car with a tank killing them both..glory to motha russia!!!
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Well, it is a casualty of war. Old, young, weak, the innocent none will be spared in the brutality of war. Just like in Syria, Iraq, Vietnam civilian casualties are expected. What a world and time to live in. How many more wars till humans are satisfied.
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what? its a joke. no need to cry like a baby. its not gonna any favors. ive donated RM12 instead of whining about it
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Nobody care
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Bruh it a Call of Duty World at War quote.
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No wonder so many other Malaysians support Putin's Russia.
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to become No.1 we must follow the step of No.1
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Above Indonesia. That's a real accomplishment.
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Above Singapore also
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Above the Philippines too lol. That has to be a really hard record to beat.
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Congraz Malaysia! Proud of you!
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What does that means?
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Same question
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whats crony capitalism?
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Crony capitalism, sometimes called Cronyism, is an economic system in which businesses thrive not as a result of free enterprise, but rather as a return on money amassed through collusion between a business class and the political class.
Source: Wikipedia
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Means do business need cable in government.
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I prefer Type C cable
2
Could someone explain to me why the US isn't high on this list? They're the most capitalistic society today no?
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Precisely they are the Most capitalistic society, the gov don't interfere much in the market, hence less ties needed in the gov
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Ahh it's clearer to me now. Thanks.
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Because people tend to only remember the first definition of Crony Capitalism = Cable to get things done.
It also includes when govt makes laws favourable to certain companies / industries, which fits the US to a T.
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Damn, now I'm curious. Who are Singapore's crony companies? Singapore Airlines? ST Kinetics? Shit just when I thought I knew my neighbours.
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To quote a comment from /r/Singapore's discussion thread:
This index can be misleading if one doesn't understand how the Economist comes up with it. It was meant to provide some sort of idea about how much billionaire wealth is generated in industries that most easily benefit from connections with the government. It does not necessarily mean that the industries or individuals are corrupt or depend on cronyism to profit.
[...]
The original Economist article back in 2014 recognised some of the issues with this index. This was because on 2014 list, Singapore and Hong Kong ranked 1st and 2nd on the list for institutions while ranking 5th and 1st respectively on the index. The institution ranking meant that their regulatory institutions and structures are much more likely to be efficient and less likely to be corrupt.
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So are we efficient and corrupt?
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Have high efficiency for making corruption?
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Read this
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[removed]
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looked further a lil bit into the index itself... are we number 2 because we are really corrupt of which I'm not surprised cuz "Malaysia boleh" .... but are we number two because data on cronyism is more widely available to public thus more blatant in Malaysia when compared to other countries that utilize much more sophisticated financial instruments to move around money and assets around more discreetly or more entrenched lobbying powers for the industries that are being analysed for this index ... ie "legal cronyism"
🤔🤔🤔
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Do you have an actual source?
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nice arguement why dont you back it up with a reliable source
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a good example would be the Korean cheabols, japanese zaibatasus or even American lobbyists on behalf of giant MNCs ... they're pretty much price fixing their products or trying their damnest to prevent competition from other companies entering their market by using the government
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Surprised that singapore's crony wealth is so high yet most of their public services and infrastructure are so good.
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The result of a benevolent dictatorship, it's quite rare.
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Yay! We're number 2! You kiss my ass, you dapat contract.
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You help me, I help you lah.
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Since when china have the lowest crony compare to Russia?.. didn't this graph base on the country report?.. it just seems Singapore, Malaysia and Russia report all the cases while others just hide altogether.. come on.. china..
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the chart uses relative value ,not absolute value. So china's crony sector as an absolute value might be massive, probably the biggest in the world, but relatively speaking can still be small.
Also they use billionaire's wealth as a sign of "cronism" , and we know china's billionaire all kena crackdown so their share of wealth has diminished. The benchmark they use is probably not very accurate.
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Just behind Russia lol
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Yes! We beat Singaporeeeeee
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i love that there also is a non crony sector rating. crony vs non crony can show just how bad a country is.
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Guys we can do better lets aim for Number 1!
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Ohhhh, no wonder Malaysians love to buddy buddy with anti-west Russia.
Birds of the same feather rupanya.
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Very ironic Russia
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Ape malu bossku... Crony brotherhood with Russia!!
Cyka blyat bossku!!
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Yes! We beat Singapore!
Always gonna beat Singapore here.
LET'S GOOOO 💪
Now we can proudly show off our achievement to them
Finally!
MALAYSIA BOLEH! 🇲🇾😂