I'm a sinkiebaru so I definitely know life in SG very well. I said pros is low cost of living. Which is true, even though the earning is low as well. For someone earning USD, EUR, GBP or SGD of course the cost of living in Malaysia is low. I'll add one more point to this. That Malaysia cost of living is really one of the lowest in the world with relatively good infrastructure. Lots of foreigners would absolutely agree with this. You could go look up numbeo, or some other site that does comparisons between cities.

Malaysians complain about cost of living but at least most people manage to own a home, and have a car. This is something people in many cities find unattainable, especially in developed countries. What is better, so seemingly earn a big income ( after converting to RM) but still struggling to have a roof over your head, or to earn less but able to have your own home?

I find it so odd that you think Malaysia won't be a good place to retire by 2050 but your alternative is Taiwan. That's so odd, I think Malaysia has a better chance of being around than Taiwan in 2050. But that's just my opinion.

My spouse is Malaysian.