My essay on class coalitions and it's effect on Malaysia's development trajectory! "Malaysia’s democratic capitalism has had an unconventional path compared to many of its Third World counterparts. British capital was able to diffuse any attempt at anti-colonial liberation by legitimizing a coalition of elites made up of the Malay aristocracy, state bureaucrats, and non-Malay — primarily Chinese — comprador capital. This first coalition had its political and economic interests aligned with British capital, and thus did not disrupt the colonial economic order. The New Economic Policy and the consolidation of state power in the hands of the UMNO brought about a second ruling coalition comprising the Malay statist bourgeoisie and bureaucrats. This second coalition attempted to sideline Chinese and British capital in order to legitimize its rule through development and affirmative action. Contradictions in the NEP era (1970–90) domestic economy forced a reversal of the UMNO’s initial vision of economic nationalism. Foreign capital was welcomed and deepened its roots in the Malaysian economy as it worked hand-in-hand with a third coalition — one of conglomerate capital and state finance capital. "
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Executive Wellness - Sustainable Fashion
11moYes.