Effect of Economic Crisis Towards Politics in Malaysia

Published: 2021-09-30 15:30:04
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Category: Crisis, Economic Crisis

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We have discussed the impact of economic crisis towards economy and social. But there are other consequences due to this subject. One of them is political. Malaysia is practicing the democratic system which all eligible citizens have an equal say in the decisions that affect their lives. Democracy allows people to participate equally either directly or through elected representatives in the proposal, development, and creation of laws (Roberts, H. Cox. 2012) However, the economic crisis could lead to the destructible of the stable political status in the country.
Malaysia now days have lists of political parties that have the same aim which is to rule Malaysia. On the other hand, economic crisis is one of the crimp to these political parties to rule the country or even to the dominant political party such as UMNO. When the Asian financial crisis 1997 hit Malaysia, the impact was traumatic. There was economic and political turmoil. The stock market, the currency and the property market nearly collapsed. That in turn affected the overall economy.
UMNO, the dominant political party in the ruling alliance, experienced political turbulence when its charismatic deputy president, Anwar Ibrahim, was expelled from the party when he disagreed with the then president, Mahathir Mohamad, over, among other things, Mahathir’s rejection of loans from the International Monetary Fund (IMF). Yet, Malaysia was not that badly affected as compared to some of its neighbors. It did not experience the extent of the socio-political distress as occurred in Indonesia where the rioting that broke out ultimately led to the overthrow of Suharto.

Nor was its economic sovereignty that deeply compromised as happened in Indonesia and Thailand when both countries were forced to accept the conditions imposed by the IMF for the acceptance of their loans. Besides, there is a major consideration of questions is the view purported by some quarters that Dr. Mahathir has “overstayed” his tenure and that heir apparent Anwar would have been the right successor of a more liberal Malaysia. The questions being around at that time is does it true that Anwar rejection is the consequences of he brings the economic down term in Malaysia and idea in conserving loan from IMF or because Dr. Mahathir is feeling discomfort or unsecure due to the trusts and confident level of the people is falling down? This questions has delivered main elements of events of the recent two years is that possibly what transpired between Mahathir and Anwar climaxed as a second “battle royale” in Malaysia’s political history. There is more than a hint that underneath it all was a political contestation fought with intense intrigue and complexity; one reflection observes that the “Anwar group” (some call it the Anwaristas, as opposed to the “Mahathirists”) had indeed been conspiring to take the mantle of power by contrived means.
Accordingly, it was a “plot” exposed in time by Dr. Mahathir’s forces. But yet, to suggest a real political division between “Mahathirists” and “Anwaristas” in the Malaysian political scenario is too neat an explanation of reality, and certainly these inchoate groupings are not mutually exclusive. As may be expected, there are also the “fence-sitters”. As we noticed, Anwar expels is due to the economic crisis. But if we storming deeper, the existence of opposition of the ruling parties in Malaysia (Barisan Rakyat), namely Parti Keadilan Rakyat.
Parti Keadilan Rakyat is formed in 2003 by a merger of the National Justice Party and the older Malaysian People's Party. Keadilan was led by Dr Wan Azizah Wan Ismail ( Anwar’s wife) and increased its parliamentary representation from 1 seat to 31 seats in the Malaysian general election, 2008 until the five-year political ban imposed on former Deputy Prime Minister Anwar Ibrahim was lifted on 14 April 2008. Here we can see the existence of one more political party in Malaysia due to economic crisis. Anwar Ibrahim has been expels from the party and he form another party through his wife in the period of he was arrested in jail.
Through this brings up another question to Malaysian. Whether Parti Keadilan Rakyat is really stand up on representing the public fate and rights? Or else, is just because of Anwar’s agenda to be the Prime Minister is failed because he was expelled from being Deputy Prime Minister by Dr. Mahathir Mohamad. Then he forms up his own political party? No matter what the question is, we can see that the existence of Parti Keadilan Rakyat giving a huge impact on the political environment in Malaysia. Large portion of society putting their trusts on Keadilan Rakyat and this is the warning and a big challenge to the government Malaysia in uling the country very well. The Malaysia government, Barisan Nasional is doing their best to society because they believe that Keadilan Rakyat have their own strength and ability in overcoming the government. In conclusion, economic crisis brings up too many negative impacts towards our politics in Malaysia such as expellation of Anwar Ibrahim, unstable of ruling political party Barisan Nasional, the disunity of public trusts in ruling political party due to lost in trust of the leader on that time.
However, the existence of main opposition party Parti Keadilan Rakyat brings a very great impact to government on how they rule the country due to the possibility and ability of Parti Keadilan Rakyat to gain the public trusts. Thus, economic down term really brings a negative impact toward Malaysia in short run, but however the subject brings a cause of positive impact toward Malaysia political environment in long term.

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