We all know that US Dollar is sliding like it has never found the floor to fall on. On the other hand, due to the sliding dollar (not Ringgit strengthen, mind you), I have this idea of sending a lots of Malaysian to study in the US.
We know there are lots of good universities over there. Before 1997 Asian Financial Crisis, Malaysian Government used to send many Malaysian to the US, UK and Australia. During the time, Ringgit was trading at around RM2.50/USD1. Affordable. In 1998, Ringgit was peg at RM 3.80/USD1, a 52% increase in cost per student if they were studying in the US. It became painful to maintain sending students to study overseas.
Now, in 2007, Ringgit is trading at the highest level post de-peg, at RM3.31/USD1, and we are expecting the Dollar to continue slide. If you send your child to study in the US after this year SPM, that means they’ll be in US until 2013 to complete a degree course. Maybe Malaysian government can consider this as well.
In related to that, Malaysian Government might also expect Malaysian Citizen working in the US to come back to Malaysia, if they don’t migrate to some other EU countries. Rather than letting them to go to EU countries, might as well the government innovate an incentive scheme to attract them back to home.
To Malaysian Government, please consider something better for your people.
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