Skip to main content Accessibility help
×
Hostname: page-component-78c5997874-m6dg7 Total loading time: 0 Render date: 2024-11-03T01:02:42.473Z Has data issue: false hasContentIssue false

Malaysia in 2015: Crises of Confidence

from MALAYSIA

Published online by Cambridge University Press:  19 May 2017

Prashanth Parameswaran
Affiliation:
Tufts University
Get access

Summary

In his 2015 New Year message to the nation, Malaysian Prime Minister Najib Razak called 2014 the most challenging year of his career, with the twin airline tragedies — the disappearance of MH370 in March and the downing of MH17 in July in Ukraine — and the worst floods to hit the country in decades, which displaced more than 200,000 people, dampening the country's economic outlook.

But 2015 proved that Najib may have spoken too soon. At home, Malaysia and its embattled Prime Minister spent most of 2015 muddling through a daunting set of political, economic and social challenges, all made worse by the long shadow of one of the country's biggest scandals directly implicating Najib himself. And though 2015 was an important year for Malaysia's regional and international diplomacy, with the country's chairmanship of ASEAN and a non-permanent seat on the United Nations Security Council (UNSC), the spillover from its domestic politics along with a series of crises put a dent on some otherwise notable achievements.

Political Turmoil and Turbulence

For much of the year, Malaysia was consumed by allegations that Najib had mismanaged funds linked to debt-ridden state investment fund 1Malaysia Development Berhad (1MDB). 1MDB had long been under assault, weighed down by 42 billion ringgit ($11.4 billion) in debt. But the scandal truly rocked the country following a 3 July report by the Wall Street Journalwhich disclosed that investigators had found that nearly $700 million from entities linked to 1MDB was deposited into Najib's private bank account. Najib denied using government funds for personal gain. But revelations — including the fact that the money had come from an unspecified Middle East donor prior to Malaysia's 2013 general elections — only raised more questions in what some began calling the biggest scandal in Malaysia's history.

Some expected the 1MDB scandal to be the death knell of Najib, especially since his approval ratings in February had already plunged to their lowest levels since he assumed office in 2009. Indeed, there was initial speculation about his removal either by opponents within his party, the United Malays National Organization (UMNO), or through a no-confidence vote tabled in parliament.

Yet Najib turned out to be far more ruthless and resilient than his opponents anticipated.

Type
Chapter
Information
Publisher: ISEAS–Yusof Ishak Institute
Print publication year: 2016

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×