Everyone knows that reporting in the mainstream media is biased. Unfortunately, they’re not the only ones (excerpt):
The huge presence of foreign workers in Malaysia has led to static wages, according to the WEF report.
Affirmative action policies and an overreliance on cheap foreign labour have led to Malaysia's best and brightest leaving to find greener pastures, particularly in Singapore, according to a new report released by the World Economic Forum.
The Geneva-based body's Human Capital Index evaluates such things as quality of healthcare, infrastructure and education, in order to gauge a country's ability to develop a skilled workforce.
Its 2013 report ranks Malaysia at the 22nd spot in a list of 122 countries. Topping the list is Switzerland, followed by Finland, Singapore, the Netherlands and Sweden. Asean countries in the list include Thailand which is placed at number 44, Indonesia (53) and the Philippines (66).
The report notes that Putrajaya's affirmative action policies as well as cheap migrant labour have kept Malaysia from achieving a skilled workforce to compete with its smaller and richer neighbour, Singapore.
The presence of foreign workers, mainly from Indonesia and Bangladesh, has left business owners with little incentive to increase wages or upgrade operations to boost productivity, according to the report.
You can access the report here.
Here’s what the WEF’s Human Capital Report actually has to say about Malaysia:
Australia (19) and Malaysia (22) have almost identical scores on the Workforce and Employment and Enabling Environment pillars, but their performance within the pillars varies. Australia ranks poorly on its labour force participation of those over the age of 65, whereas Malaysia, the highest of the region’s upper–middle income countries, ranks very low for the Economic participation gender gap indicator. Malaysia performs well on most of the qualitative talent and training indicators in the Workforce and Employment pillar…
…and…that’s it. Nothing on affirmative action, nothing on brain drain emigration, nothing on low-wage labour driving down wages or productivity. Only the gender gap.
I’ll leave you to your own conclusions.
Apparently, the article was originally sourced from the Wall Street Journal. Read the original here, then compare with the edited version above. The WSJ piece is obviously written as an opinion piece, and while you might disagree with the opinions expressed, it is factually correct. The TMI version though…