IT is good to know that there is once again a call for economic reforms in our country, “Call for bold economic reforms” (Starbiz, Feb 15). I think we need to have economic reforms because we owe it to ourselves, plus we have to catch up with the other advanced east Asian economies such as Japan, Taiwan and Korea in terms of per capita income.
Our household debt is at an all-time high and many people are struggling to repay loans. Some even have difficulty putting food on the table. The withdrawal of EPF savings and requests for bank loan moratorium are testaments of our strained financial situation.