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Malaysia’s Student Loan Company
The Malaysian National Higher Education Fund Corporation (PTPTN) was set up in 1997. Since then, it has accumulated a massive debt amounting to RM40 billion in principal plus RM13 billion in interest. All these are guaranteed by the Malaysian government. It is now the biggest provider of student loans in the country and continues to play a very important role in catalysing socio-economic mobility, especially among the ethnic Malays which is the majority community in the country. However, the business model employed by PTPTN is irrational and unsustainable. It borrows from the financial market at, on average, 4 to 5 per cent, and lends to students at 1 per cent. No serious effort has been mad...
Economic Dimensions of Covid-19 in Indonesia
Beginning in December 2019, the coronavirus swept quickly through all regions of the world. COVID 19 has wreaked social, political and economic havoc everywhere and has shown few signs of entirely abating. The recent development and approval of new vaccines against the virus, however, now provides some hope that we may be coming to the beginning of the end of the pandemic. This volume collects papers from a conference titled Economic Dimensions of COVID 19 in Indonesia: Responding to the Crisis, organised by the Australian National University’s Indonesia Project and held online 7–10 September 2020. Collectively, the chapters in this volume focus for the most part on the economic elements of COVID 19 in Indonesia. The volume considers both macro- and micro-economic effects across a variety of dimensions, and short- and long-term impacts as well. It constitutes the first comprehensive analysis of Indonesia’s initial response to the crisis from an economic perspective.
The Free and Open Indo-Pacific Beyond 2020
American Indo-Pacific policy will be driven by its China policy, regardless of whether there is a second-term Donald Trump administration or a first-term Joe Biden administration. The Republicans will continue to frame the major challenge as "balancing" against Chinese power and "countering" the worst aspects of Beijing's policies. Establishment or moderate Democrats under Biden will choose the softer language of seeking a favourable "competitive coexistence" in the military, economic, political and global governance realms, and the reassertion of American leadership and moral standing. In advancing the FOIP, the current administration argues that disruptiveness and unpredictability are nece...
Myanmar’s Political Transition and Lost Opportunities (2010–2016)
This book is about the politics of Myanmar under the reformist president Thein Sein. After taking office in March 2011, Thein Sein initiated the bloodless Myanmar Spring. He was able to transform Myanmar into a more transparent and dynamic society, bring Aung San Suu Kyi and other opposition activists into the political process, initiate a peace process with the ethnic armed organizations, reintegrate Myanmar into the international community after five decades of isolation, and, most importantly, for the first time since the country regained independence in 1948, he was able to enact the peaceful transfer of power from one elected government to another. But Thein Sein also lost opportunities...
China’s Maritime Silk Road
This innovative book examines the maritime component of China’s Belt and Road Initiative (BRI), focusing on three key trade routes and addressing the question of how China protects its overseas assets. Gerald Chan explores China’s rising maritime power, using geo-developmentalism as a theoretical framework to analyse the country’s development of port facilities and infrastructure along important trade routes. Through developing these sea routes, he argues that a new global order is in the making.
Will Pakatan Harapan’s Hold on Selangor Continue?
When the Pakatan Harapan (PH) federal government fell in February 2020, PH also lost control over the states of Johor, Malacca, Perak and Kedah. In Sabah, PH-aligned Warisan was replaced by the PN-aligned United Alliance of Sabah. PH maintained its hold on three states—Selangor, Penang and Negeri Sembilan. Selangor’s position is of unique interest, given the largest share of PH assemblypersons comprising members from the People’s Justice Party (Parti Keadilan Rakyat, or PKR), the party which has faced significant elite splits in 2020. The present stability of PH’s survival in Selangor can be accounted for by the sheer majority it possesses within the legislative assembly, comprising ...
From Tao Guang Yang Hui to Xin Xing
This article traces China’s foreign policy transformation from 2013 to the present. It also examines Deng Xiaoping’s doctrinal response to the political crises of 1989–91 and compares it to current Chinese foreign policy doctrines. From the early 1980s until the 2010s, China’s foreign policy has generally focused on keeping a low profile. Deng’s Tao Guang Yang Hui foreign policy doctrine is characterized by its “No’s”, while Xi Jinping’s Xin Xing is marked by its “New’s”. The move from Tao Guang Yang Hui to Xin Xing is a major doctrinal shift in China’s foreign policy. Since the 19th Party Congress in 2017, Xi’s “new” narratives have seemingly dominated Chines...
Beyond Debt
Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change—yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country’s capital Kuala Lumpur “the New York of the Muslim world”—the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable econ...
Under Beijing's Shadow
China’s rise and stepped-up involvement in Southeast Asia have prompted a blend of anticipation and unease among its smaller neighbors. The stunning growth of China has yanked up the region’s economies, but its militarization of the South China Sea and dam building on the Mekong River has nations wary about Beijing’s outsized ambitions. Southeast Asians long felt relatively secure, relying on the United States as a security hedge, but that confidence began to slip after the Trump administration launched a trade war with China and questioned the usefulness of traditional alliances. This compelling book provides a snapshot of ten countries in Southeast Asia by exploring their diverse experiences with China and how this impacts their perceptions of Beijing’s actions and its long-term political, economic, military, and “soft power” goals in the region.
