On 4th November, LSESUMC held a conversation with Professor Danny Quah on the Malaysia. Born in Penang, Professor Quah is currently a Professor of Economics and International Development, and Director of the Saw Swee Hock Southeast Asia Center at LSE. He is known for his studies on economic growth and convergence across nation states, and for his analyses of the large shifts in the global economy. He had previously served on Malaysia’s National Economic Advisory Council from 2009-2011.
Professor Quah shared his views on the Malaysian New Economic Policy of 197, which he contributed to as a member of the council that planned the policy and shared the vision the council had during the formulation of the policy. He also shared how the Malaysia's new economic model, which he also advised will incline towards a more 'needs-based' NEP.
Subsequently, he shared his opinion that the idea of sovereign wealth funds like 1MDB and its successor, Terengganu Investment Authority (TIA) are excellent as it aims towards long term and sustainable economic development while safeguarding the economic well-being of the people for generations. However, the numerous questionable transactions made through the funds have destroyed the narrative of Malaysia's successful economic growth and undermined the credibility and reputation of Malaysia's leadership and economic progress in foreign eyes.
The Q&A session was equally engaging and enlightening, with questions regarding issues like Trans-Pacific Partnership Agreement (TPPA) and South China Seas disputes raised and answered. On behalf of the Malaysian community in LSE, we would like to sincerely thank Professor Quah for spending his evening with us and we wish him all the best in upcoming role in the Lee Kuan Yew School of Public Policy, Singapore.