I was interviewed by Bloomberg yesterday and I have been quoted in the news below that appeared in Singapore Business Times. So far the market has reacted rather negatively to Najib’s assurance that all is well in Malaysia.
I am currently in Seremban for a wake. The conversation is now focused on the economy and two businessmen are giving me microeconomic perspectives of what is happening. Their greatest fear is a slow down in consumer spending and when some businesses start to fail and people lose jobs, what then will happen to their extremely high personal/household debts? They quipped that this country and people are built on debt and an economic downturn will push debtors to a corner.
