This is called the socialisation of debt. When it becomes a norm that borrow to spend is ok, this is what we get. 5-8 years ago, where on earth you get zero down, full loan? Malaysia is not new to this, just very late in the game. The Americans have been digging themselves into the debt mountain for a long long time now until the mountain collapsed on them. Malaysia still go some milage to go.

The numbers does look very impressive. However I don't think it was because Malaysia is doing such a fantastic job attracting FDI. When the crash in 2007/2008 happened, every developed economic is printing money like mad to shore up their economies and banking systems. Most of the excess liquidity or hot money has not stayed in the US, UK or EU, instead it all rushed out everywhere in the world chasing returns on capital. From commodities, currencies to assets in emerging markets - stock markets, property markets, etc. China/BRIC and Southeast Asia, Latin America even South Africa are beneficiaries. The flip side to these is that they are also victims of price/asset inflation when the hot money rolls into town.

So while Malaysia is patting themselves on their backs saying good job. All emerging markets also have reasonably if not equally impressive FDI. I am not saying they are doing a bad job - but more because they are in the "right place, right time" rather.