Malaysians are confronted with three issues that impacts on the quality of life and standard of living of the various key sectors of the population: youths stuck with spiraling debt, workers facing stagnant wages, and patients confronted with a rising cost of healthcare.
At the heart of these problems is the widening inequality in the country, one that is skewed in favour of the rich.
At present, at least 11 youths go bankrupt daily because they are unable to pay their education and housing loans. 57% of parents go into debt to pay for their children’s education loans. The loans are subsequently transferred to their children who are burdened with debt even before they secure employment.
At the heart of these problems is the widening inequality in the country, one that is skewed in favour of the rich.
At present, at least 11 youths go bankrupt daily because they are unable to pay their education and housing loans. 57% of parents go into debt to pay for their children’s education loans. The loans are subsequently transferred to their children who are burdened with debt even before they secure employment.
