As the world begins to emerge from the Covid-19 pandemic, concerns arise that we might be heading into another era of stagflation, as global economic growth still looks to be frail, and commodity prices begin an inauspicious climb. Should we be worried? I think it’s too soon to be all anxious about such prospects, but it’s good that people are thinking about it. To be forewarned is to be forearmed.
After the recent oil price slump of 2014, crude oil prices have made a gradual climb back up, but have not yet reached the peaks prior to that slump. And while there was a major drop following the outbreak of the Covid-19 virus, prices have recently recovered, and a commodity boom is now on the horizon. But how will oil prices fare in the years ahead, as consumer demand for decarbonisation accelerates? It appears to be that that dreaded “peak oil” scenario is likely going to happen soon, or at least within my own lifetime. That secular shift in energy patterns will lead to significant changes in the global economy, as well as geopolitics. That will also mean that the spoils could well go to countries with the foresight to capitalise on this once-in-a-lifetime shift, like the way China has ramped up its capacity for manufacturing solar panels. Other countries would be wise to follow suit.
There has been a lot of discussion about broadening the tax base in Malaysia, especially since the introduction of the Goods and Services Tax, which was eventually abolished by the Pakatan Harapan government. In an age when income inequality is foremost on the minds of policymakers and commentators, it is interesting to see the Malaysian Socialist Party (“PSM”) and the Democratic Action Party (“DAP”) at loggerheads over the idea of a Capital Gains Tax. My take is that policy choices in Malaysia would become much, much clearer on that day when we finally introduce clear rules around transparency of political financing. Then we will see, who exactly is fighting for the people, vs. those who merely talk a good game.
Being married to Kat Rahmat inevitably means that there will be a lot of conversations around the meaning of Life and Death. In particular, the two of us often have conversations around the fear – nay, terror – of impending death, and how we engage in various convolutions and distractions, to take our eye off the stark reality of permanent departure from this world. This piece is consoling: that even physicists, who we would imagine to be the most rational of the best of us, cannot escape postulations that help us to find peace with the idea of our eventual expiration.
The Great Resignation is real, and it is coming. As many workers have spent months away from the office, they have had time to evaluate their lives and careers, and many have begun to explore different options for how to live their post-pandemic lives. This article reminds us that it is okay for people to leave, and it is equally as important to pay attention on those who choose to stay. As for me, I look back at my career over the past decade and realise that even though I have technically moved jobs 5 times since 2010, those job moves have actually involved me shuttling back-and-forth between just Pemandu and Ekuinas. I would like to think it is a good sign that I have been able to return back to old stomping grounds, not just once but twice. Loyalty and trust can be hard to build, but they are very powerful currencies in our journey through life.
