There is also less additional impact from the government to support the economy as the previous stimulus measures begin to end. The new lockdown scenario will likely freeze the nascent recovery in employment and the gradual re-absorption of underemployed and retrenched workers. The social market approach would target those in need and strategic groups to help sustain and create new sources of growth. A social market economy approach — which combines a free market economic system with social policies that establish fair competition, equality of opportunity and social equity — is the foundation for successful market-driven economic growth. The role of international trade and net exports, also essential in a social market context, should also not be overlooked because trade is an important source of growth for Malaysia.

Source: The Edge Markets June 09, 2021 06:11 UTC