Since my article yesterday — When Mahathir sold Malaysia to the Japanese, Koreans and Taiwanese — many people still insist that Prime Minister Najib Razak has sold and is still selling Malaysia to the Chinese.
The arguments they put forward to support their allegation are as follows:
1. Mahathir Mohamad’s Look East Policy is different from what Najib is doing.
2. The Japanese, South Koreans and Taiwanese only set up factories while the Chinese buy property in Malaysia.
3. The Japanese, South Koreans and Taiwanese do not disappear when they come to Malaysia while the Chinese come to Malaysia and disappear.
4. The Japanese, South Koreans and Taiwanese do not end up owning land in Malaysia while the Chinese do.
5. FDI should only mean investments in factories or manufacturing plants, especially those involved in exports, and investments in land or property should not be classified as FDI but as selling the country.
I suppose all these Chinese who object to investments from China know what it was like back in 1850 to 1920 when the British first opened Malaysia’s doors to mass migration of labourers from China and India.
Until today the Indians are still poor (Hindraf alleges that 800,000 Indians have been displaced from estates and have not been resettled in other estates) while the Chinese labourers and tin mine workers now own Malaysia.
According to the Chinese, 90% of the personal income tax is paid by the Chinese and, if not for the Chinese, Malaysia would have never seen development and the Malays would still be living in trees (although according to history the Malays were a sea-faring people, or orang laut, which means they could not have been living in trees).
According to Hindraf, the Indians have been neglected and are the poorest people in Malaysia, even poorer than the Malays (even though the Indians and Chinese both came to Malaysia from 1850 to 1920 as labourers and, hence, were of the same low status).
Anyway, based on what the Chinese and Hindraf say, once the Chinese are allowed to come in they will end up owning everything
This is also what the Australians are complaining about.
Property prices have shot up to three times what it was before the Chinese came in, complained the Australians.
Since the Chinese have been buying up property in Australia, and many in cash, the locals can no longer afford to buy homes, especially the newly-weds and those just starting their careers.
So I can understand why the Chinese are very scared of allowing Chinese to come to Malaysia like they once did from 1850 to 1920.
If what the Chinese (and Mahathir Mohamad) say is true – which is the Chinese now pay 90% of the personal income tax – then the Chinese would lose out to the Chinese who have far more money than the Chinese.
I mean, even in white countries like Australia and the UK, Chinese money is slowly but surely taking over the country.
So the Chinese are raising all sorts of arguments as to why Chinese, or Chinese money, should not be allowed into Malaysia.
They raise arguments like the ones mentioned above to support their allegation that Najib is selling Malaysia to the Chinese (whereas the British never sold Malaysia to the Chinese from 1850 to 1920, which is why the Chinese own nothing in Malaysia – same like the Indians, according to Hindraf).
So the bottom line is: Chinese can be allowed to come to Malaysia and bring their billions only if they set up factories.
But if it is to get involved in property or land development then they should be barred from coming to Malaysia.
Secondly, FDI means investments in manufacturing, in particular export-oriented.
Any other forms of investments should not be considered as FDI.
If you invest in land or property then that is not FDI, that is taking over the country.
I suppose these same Chinese are the ones who are saying that Malay Reservation Land should be abolished because only Malays can buy that land and this is not fair to the Chinese who, like in Terengganu and Kelantan, can buy only about 1-3% of the land in the state.
They further argue that if Chinese are allowed to own more land in states such as Terengganu and Kelantan then those states would become developed like Penang and Singapore.