A New Approach To Crisis Management – Malaysia Recovery & Rejuvenation Bhd (MRRB)
By Matthias Chang – Future Fast-Forward
Part 1
It is incredulous that having suffered the dislocations of the boom-bust cycles in almost every decade, the devastations of the Great Depression and the Black Swan events, such as the 2008 Great Recession, which almost destroyed the entire global banking system and the consequential $20 Trillion bailouts of the global Too Big To Fail Banks (TBTF), not one country has deemed it fit to establish economic / financial Fire Brigades with the requisite skill sets to put out the raging economic fires. Zilch!
The current recovery efforts by global governments have been hampered by too many institutional constraints (legislative or otherwise) that were not designed or mandated for economic recovery and rejuvenation and more importantly the lack of human resources with the requisite skill sets to confront the challenges following the unprecedented global Covid19 crisis.
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