A HORRENDOUS claim has been making the rounds on social media. It says that Malaysia is buried in debt and is the next country, after Sri Lanka, to go bankrupt.
Curiously, many have chosen to believe this is the gospel truth. There have been plenty of rational explanations by economists debunking this myth, but they are buried mainly in the business sections of newspapers. So the general population may have missed the more reliable information.
Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 35 years in various capacities and roles. He is now group editorial and corporate affairs adviser to the group, after having served as group managing director/chief executive officer. On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.