QUOTE(MAGAMan-X @ May 25 2019, 04:06 PM)
Govt dipping its finger into some industries does not make it a socialist economy. Most businesses are privately owned. You're making the mistake of thinking the exception is the rule, it is not. E.g: just because there's Obamacare does not mean the US is a socialist country. Get it?
Sure
But the question of whether an entity is capitalism vs socialism is not absolute; it is measured in
degrees. A capitalist market is not 100% free, nor is a socialist market 100% command
Even the USSR at the very height of Communism obviously had some small degree of capitalism - there was still a system of buying and selling and investment in small mom and pop businesses
And even the USA, arguably world leader in free market capitalism, has some Govt owned businesses such as the infamous Freddie Mac and Fannie Mae, and the US Post
And social welfare support of all types is socialist in nature. The more social welfare is provided by the Govt (paid for by taxes), the more socialist it is. See for example the famous Scandinavian country model.
So where does Malaysia lean to? In terms of economy, well the Msian Govt is the single largest shareholder in Malaysia. It is a monopoly or effective market leader in several industries which I highlighted above. Through tight fiscal and regulatory policy it dictates who the players are and very strongly influences movement. It is not merely "dipping a finger" at all.
Plus of course for nearly all of Malaysia's history we have pursued a national policy of transferring wealth from the perceived rich to the perceived poor. Exactly as dreamed of in the Manifesto.
In this regard we are quite strongly a socialist country.