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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...
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.
The Military in Burma/Myanmar
The Myanmar military has dominated that complex country for most of the period since independence in 1948. The fourth coup of 1 February 2021 was the latest by the military to control those aspects of society it deemed essential to its own interests, and its perception of state interests. The military’s institutional power was variously maintained by rule by decree, through political parties it founded and controlled, and through constitutional provisions it wrote that could not be amended without its approval. This fourth coup seems a product of personal demands for power between Senior General Min Aung Hlaing and Aung San Suu Kyi, and the especially humiliating defeat of the military-backed party at the hands of the National League for Democracy in the November 2020 elections. The violent and bloody suppression of widespread demonstrations continues, compromise seems unlikely, and the previous diarchic governance will not return. Myanmar’s political and economic future is endangered and suppression will only result in future outbreaks of political frustration.
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.
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 ...
Student Activism in Asia
Since World War II, students in East and Southeast Asia have led protest movements that toppled authoritarian regimes in countries such as Indonesia, South Korea, and Thailand. Elsewhere in the region, student protests have shaken regimes until they were brutally suppressed--most famously in China's Tiananmen Square and in Burma. But despite their significance, these movements have received only a fraction of the notice that has been given to American and European student protests of the 1960s and 1970s. The first book in decades to redress this neglect, Student Activism in Asia tells the story of student protest movements across Asia. Taking an interdisciplinary, comparative approach, the c...
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...
How China Loses
Tells the story of China's struggles to overcome new risks and endure the global backlash against its assertive reach. Combining on-the-ground reportage with analysis, Luke Patey argues that China's predatory economic agenda, headstrong diplomacy, and military expansion undermine its global ambitions to dominate the global economy and world affairs
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.
