Economic parallels to England’s World Cup flop

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Germany 4, England 1. The English Premier League may be the most popular league in the world with its players paid ludicrous wages, but for all the league’s global mass appeal, the host nation, England, is hard-pressed to deliver a top-class national team.

(Check out the ref’s funny blind spot here.)

The influx of foreign players and coaches and the lack of space in the top clubs for the development of promising English talent have contributed to the stagnation – if not regression – of the England national side.

In contrast, the Germans may not have the most exciting league in the world, but they have invested in their young players through their academy.

In many ways, this situation parallels what would happen if economic markets, especially in developing nations, are ‘liberalised’ or opened up to superior foreign players in a free-for-all.  Foreign corporations will end up controlling and dominating the local economy while Malaysian firms will struggle to compete, without concerted intervention to protect local interests.

What will happen to the national economy when more foreign banks and hypermarket chains, with tremendous resources at their disposal, set up more branches in Malaysia? What will happen to local retailers and the corner shop up the street? Will foreign interests dictate national economic policy then?

Already, we can see something happening in the showcase Suria KLCC (‘Premier League’). The latest Edge, carries an article pointing out that foreign brands are already crowding out Malaysian brands, which have no choice but to move out to less popular malls (‘lower divisions’) as Suria rentals soar.

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Retail activity may have returned to Suria KLCC after the global slowdown and Suria (‘EPL’) itself as a mall might still be popular, but left to market forces, what will happen to Malaysian firms (‘English clubs’) who cannot afford the spiralling rentals (‘footballers’ wages’)? Suria KLCC was meant to showcase Malaysian brands side-by-side with top international brands. But the higher rentals are nudging out the few up-and-coming and top local brands names – or pushing them to the less frequented upper floors?

Just as with the EPL and the England national side, as ‘liberalisation’ creeps into the East Asian region on the coat-tails of the Trans-Pacific Partnership, we might end up with a thriving economy dominated by foreign firms controlling the wealth (which goes to the big foreign and corporate players) while domestic interests end up marginalised with the economic crumbs.

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5 Comments on "Economic parallels to England’s World Cup flop"

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LBJ
LBJ

I agree. Look at the foreign companies in Malaysia. They come in borrow money from local banks to do business – only a piece of paper from HQ to guarantee loan and import cheap labours from Bangladesh. Home grown companies are stamped out by big foreign companies and local govt officials who want a cut.

Iron
Iron

Seriously, Anil, who cares about that sunset country?

Oxymoron

Here’s a reason why we should buy more local products: http://www.youtube.com/watch?v=5eKYyD14d_0&feature=fvw.

By the way, the UK economy is a big flop too.

donplaypuks

Bro

Sorry to digress.

I think as many as possible should act to stop a miscarriage of justice from taking place in the MACC vc lawyer Rosli Dahlan case as reported by Din Merican here.

It appears someone has manipulated a change of judge in the midst of a trial going badly for the MACC, with ominous implications now for Rosli.

Trust you will blog about it! Civil Society must not keep quiet about these machinations!

Thank you.

dpp
we are all of 1 race, the Human Race

wira
wira

I am surprised at your article, Anil.

If the English players are not up to the mark, it’s better to import players so that supporters world wide will still support the English League which is making tons of money for the British.

Look at Malaysia.
Yes, we have loads of local players but who is interested?
That’s why the local league cannot make soccer players rich.
Apparently it cannot even survive without massive subsidies from state and federal governments.

Extend this to the meritocratic world and you will find the reason for our economic malaise.

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