“The MCA is a racist for playing up the issue. It is also an insult to quite a few MCA Chinese who are filthy rich”
Raggie Jessy Rithaudeen
مچ ڤرلو برهنتي نافي چينا ڤاليڠ كاي، ترماسوق ببراڤ اهلي مچ يڠ ءترامت كايء
The Chiense in Malaysia are “dominantly rich” and have huge stakes in the country’s income and economic pies.
This is a fact.
For those who missed the article that presented some facts and figures to justify the claim, refer to the link below:
In a nutshell, the Chinese segment of society is overrepresented in the top one percent income group whereas the Bumiputra segment practically dominates the bottom 50 per cent.
In both groups, the gaps between the Chinese and the Bumiputras are so large, it substantiates claims that the Chinese do indeed have huge stakes in the country’s income and economic pies.
The gaps still exist to this day.
In the article above, I wrote:
On the 5thof October 2019, the previous Pakatan Harapan (PH) administration announced plans to raise the earnings of the Bumiputera majority, slashing Malaysia’s inter-ethnic income gap to within 10 per cent by 2030 by sending the economy up the value chain according to its Shared Prosperity Vision (SPV).
On the same day, Mahathir, who launched the SPV, said the Bumiputera segment found their share of the pie reducing in recent years especially compared to the economically dominant Chinese minority.
“The gap whether between Bumiputera or Indians to Chinese has expanded between 3.5 and four times in the past 27 years,” he said, referring to their respective median household incomes.
He also revealed that between 2011 and 2015, the Bumiputera corporate equity fell from 23.4 per cent to 16.2 per cent while foreigners increased their holdings to 45.3 per cent from 37.2 per cent.
“The 30 per cent Bumiputera equity target set in the New Economic Policy has yet to be achieved,” he said, referring to the set of pro-Bumiputera policies introduced in 1970 after deadly race riots broke out the year before.
Guan Eng was Minister of Finance back then and was involved in the formulation and launching of the SPV, one way or the other.
Not only did he know the figures Mahathir presented, it was his ministry that helped provide them along with the Ministry of Economic Affiars, led by Datuk Seri Azmin Ali.
So why con the rakyat now or deny that a huge gap exists between the Chinese and the Bumiputra segments?
The MCA is a racist for playing up the issue