THE mini budget to be announced tomorrow comes at a time of difficult world economic conditions. Prospects for 2009 remain uncertain. Across the region, countries like China, Taiwan, Japan and Singapore face declining industrial production and exports. The offshoot is that jobs are at risk.
There are record job losses in the United States and rising unemployment rates in Europe, Japan and China. Governments around the world have taken unprecedented steps to stimulate their economies and recapitalise ailing financial institutions.
Closer to home, Malaysia’s economic statistics for the last quarter indicate declines in key areas such as exports, indus
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