The Economic Impact of Malaysia's Institution on the Failure of the Wawasan 2020

Abstract

On the arrival of 2020, Malaysian President Mahathir officially announced the failure of Wawasan 2020, which is also called Vision 2020. This article discusses the cause of this failure from the perspective of institutional issues, namely political struggle, institutional corruption, supreme Malay policy. At the same time, this article puts forward the following opinions for the future economic development of Malaysia because of the above issues. The first thing to govern is the corruption of government officials and the corruption of the system. Secondly, the government should improve its unfair education system and reduce the drain of Chinese talents. Taking the Korean economy as an example, Malaysia can achieve a win-win situation with China through the Belt and Road Initiative.