While I do not want to bore you guys with the details, I must point out one statement that I received from my Professor, which in line with some of literatures that I have read before class. And what the statement is?
Malaysia was not badly hit by the Asian financial crisis in 1997/98, at least not as bad as Thailand, Indonesia and South Korea.
Hmmm...
Actually, I am in a difficult to verify how true this statement is because by the time my beloved country started to sneeze, I already flew to United Kingdom to read my first degree. My only indicators are Ringgit was fastly depreciated by God know many percent and majority of my classmates from the MARA College Banting cannot further their studies overseas because MARA has raised the cut off point up drastically.
To tell the truth, I do not think I was directly affected by the crisis because I received my monthly living allowance in pound sterling. And coming from a poor family, I did not expect any money from my parents. Therefore, I did not feel the pinch from the exchange rate fluctuation. In fact, I did benefit from it when I sent (and brought) home money. And Alhamdulillah for all of His blessings, I don't have to pay off my education expenses because I met the requirements for it to be converted into a full scholarship at the end of my studies.
So, is Prof. Colin Kirkpatrick right on this matter? I really hope some of you could give me some light on this because I am positive that our country was hit as bad as Thailand, Indonesia and South Korea during the Asian financial crisis. I have saw the statistics during my course of work as a regulator, but later today as I talked to another student from Malaysia, she also give the same personal experience as mine. Or the crisis only "attacked" the working Malaysians?
Does this make any sense?
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