Kota Kinabalu, Wednesday, 7 February 2024
First and foremost in the minds of ordinary people and governments around the world in the new year of the dragon is the economy which, as indicated by economic data, continues to face an uphill recovery path.
Full global economic recovery now depends on the effectiveness of the huge economic stimulus programmes that are being implemented in America and China, the two biggest economies in the world.
Fortunately, Sabah’s key economic sectors such as oil palm industry, tourism and oil and gas are expected to do moderately well.
To really boost the Sabah economy, a more efficient delivery system and speedy implementation of government public infrastructure projects such as highways, water and electricity utilities and public housing are necessary to spur the growth of the Sabah economy, and to provide new employment and business opportunities to local people.
On the global geo-political front which can disrupt the global economic recovery, many uncertainties remain.
However, the recent election results in Taiwan show that a majority of the voters in Taiwan reject any provocations or actions that could lead to violent conflict across the Taiwan Straits with mainland China. A fact that is not reported in the western media is that the new Taiwanese government leader received only 40% of the popular vote, a steep fall from the previous 57%. Equally critical is the fact that the Taiwanese government has lost its majority in parliament, hence any legislative move towards separation from China is doomed to fail.
As a result, Asia can be expected to have a peaceful year of the dragon.
In this context of confidence and optimism, I wish everyone a happy, prosperous and healthy lunar new year of the dragon.
Gong Xi Fa Cai!
Datuk Yong Teck Lee
SAPP President