Are malaysians richer ?

[munky]

Are we richer than those in lets say, UK, US, aussie ?

We can afford to pay RM0.5m for a brand new mercedes, RM120k for a civic, RM250k for evo/impreza, RM1.9m for a ferrari and also pay RM1.92 for a litre of petrol.
Compared to the americans, they pay maybe $30k for a camry, $40k for an evo, and $150k for a ferrari.

For clothes, their branded jeans like hugo boss/diesel/ax/tommy cost around $90 like that only if im not mistaken. And we have to pay ~RM190 for a levi's. Foods are about the same i think (correct me on this). What else ? House ? I think house is the only thing that is more expensive than ours (and im not too sure about this). Oh, and some country like germany offer free education. For some of us, we need to fork out RM100k to complete a degree

So what do u guys think ?

 

[fstr]

malaysians are a ego lot, everything must show...

if they can afford, they can pay cash and buy em...but think again, they are using banks to finance the cars...so i think banks in malaysia are richer by the richter scale :p

 

[prodigy]

I would like to correct the statement. Malaysians are generally not rich if you take averagely. However, we are very prudent in our spendings and save alot for the future. Most of the money goes to the house and cars while the most of the money we save goes to our children education.

My friend's father, a general clerk working in a port managed to send 3 of his kids to overseas for studies. All of them did at least 3 years while working part time to supplement their studies but the bulk of the expenses came from their dad. I know the family quite well and i must say they are a thrifty bunch of nice people. The father spent close to half a million just for all their kids education. So imagine how thrifty they are.

Our country's education policy does not allow most chinese to fulfil their dreams of studying whatever course they want so basically our dads have to slog it out to support us in realising our dreams of doing something we want. Which is why i said we're not rich when it comes to spendings, but we are still considered rich for the amount we save and towards the retirement age. Western people have different thinking. Their motto in life is to live life to the fullest and to them, yearly holiday is a must and you find that they're more than willing to splash out money for various stuff. They need not worry about education coz most of the countries have very good universities and its relatively cheap to study and get a good degree.

 

[boggysv]

not at all. we are poor as crap.

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
ok, living cost here may be cheaper, but then, that does not change anything when you buy things produced in other more "richer/developed" countries. The product is priced for their consumer, and everyone(malaysians included) shall pay the same price.

http://www.economist.com/markets/bigmac/displayStory.cfm?story_id=5389856
(I think we might be worst than china. This is after all, the price of american burgers in china.)

 

[NOSkill]

This is not about how much we earn and how much we spend to standardize a living style. Most Japanese spend their whole lives to own only 1 house.

 

[boggysv]

what is it about then?

 

[links]

This is not about how much we earn and how much we spend to standardize a living style. Most Japanese spend their whole lives to own only 1 house.

Maybe you can try to look at Marginal Propensity to find out how much msian save and spend. This will help to determine the saving and spending power of the people. I think we are second to Singapore in Southeast Asia.

Also our per capital GDP(not overall GDP) is second to Singapore but the gap has been widen alot over last 20years.SG are about 2-3 times more than ours while we were used to have onli 1 times difference.

our economy performance seems to be fine in Southeast Asia but when comparing with whole Asia then we are losing out and falling behind many others.

anyone has the latest links for these info?

 

[satria_95]

Malaysia is dang rich. Rich with people who always claim this is their land and claims it for themselves. After claiming it as their land, they let it grow roots and lalang and whatever nonsense rather than develop it and make good use of it.

 

[devil]

I am not sure are we rich or poor ..
But, I just compare myself against my other friends ...
Those who been working in UK, China, Taiwan, Spore etc .....

They work, and they managed to save ..
We all enjoy similiar life style, yes, their currency is higher, however looking at the income vs expenses, somehow, they tends to hv more saving then me ...

It make me wonder, am I having a good life .. hmm ..

 

[satria_95]

devil,
You're a devil. Of course you have a good life cos the surface of this planet is yours. hahahaha Just joking, dude. hehehhe

 

[szekeiemme]

cuz their money controlled ma.. den like dat talk bout indonesia ... duno how many K's for a loft of bread kekeke

 

[Duke Red]

in the end, it depends on what sort of lifestyle you want and how you prioritise your spending. i would not however say that malaysians are richer. with so many easy payment schemes, we often buy what we cannot afford.

 

[links]

not at all. we are poor as crap.

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita
ok, living cost here may be cheaper, but then, that does not change anything when you buy things produced in other more "richer/developed" countries. The product is priced for their consumer, and everyone(malaysians included) shall pay the same price.

They dun include China? I think economist are splitting the China PPP by cities, they said the shanghai GDP per capital is catching up with HK. There are somewhere around $15k( if not mistaken) but increase in a very vast rate....so its $5k more than msia...thats a big gap...

Msia might be in a fragile position against hedge funds....hope the 1997 crisis wont happen again.