FURTHERING my proposition of taking a “wartime” approach to the Covid-19 response, in this article I outlined five immediate economic measures that the current government needs to take to steer the country from a prolonged recession:

1. Further increase health spending

2. Raise deficit to “wartime” level

3. Helicopter money and bold moves by Bank Negara

4. Malaysian workers first #saveMalaysianjobs

5. Reshaping GLCs and GLICs’ priorities and bring industrial policy to the fore

Much as I opposed the political coup that brought in the current regime, I want to be as bipartisan as possible to ensure the government would make the right call in this time of Covid-19 pandemic.

Otherwise, there will be people starving and possible social unrest.

Whether we like or not, the government is the last resort for all Malaysians.

No other country could help Malaysians, only the Malaysian government could, and with the help of Malaysians, of course.

This is a global crisis, so we won’t be able to “export our way out of trouble” just as we did after the Asian financial crisis in the late 1990s. No one else, China or United States, has the policy resources to help Malaysia.

There are no private funds and charities that are big enough to aide and cushion the fall for millions of Malaysians for the long haul.

Extraordinary time demands extraordinary action. The government/state must lead and be prepared to throw the textbooks out of the window. Some bold acts must be implemented immediately, with imagination and creativity. #saveMalaysianjobs – April 4, 2020.

* Liew Chin Tong is Kluang MP.

* This is the opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insight. Article may be edited for brevity and clarity.