Malaysia another Zimbabwe in the making?
How you would like a 100 billion Ringgit note? Isn’t that cool to be a billionaire once in a lifetime? Ask the the people of Zimbabwe, suffering from a record 2.2 million % inflation. Gila sia, i couldn’t imagine putting myself into their shoes.
To tackle cash shortages, the Zimbabwean bank introduced 100 billion dollar bank note. This year itself 2008, Zimbabwe have introduced 7 new denominations such as:-
10 million (January 2008)
50 million (April 2008)
100 million (May 2008)
250 million (May 2008)
5 billion (June 2008)
25 billion (June 2008)
50 billion (June 2008)
100 billion (July 2008)
Just imagine the inflation was at 165000 percent in February 2008 and shot up as much as more then 13 folds to 2.2 billion percent as of now.
To be honest we in Malaysia is still very far away from the 2.2 billion percent inflation but if we continue to have:-
- Political Turmoil
- Poor Governance
- Mismanagement of funds
- Sudden spike of prices
- No proper economic planning
Yeah, we are heading towards that direction. We then should have our Wawasan 2020 vision as Memandang ke arah Zimbabwe (Look forward to becoming Zimbabwe)
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