Learn from Trump’s midterm defeat: Guan Eng warns Putrajaya over ‘phantom growth’

In a statement, DAP's Bagan MP Lim Guan Eng urged the Malaysian government to learn from the U.S. midterm elections, where economic growth did not prevent voter backlash due to rising living costs.

Lim highlighted Malaysia's similar two-tier economy, where the 6% GDP growth does not alleviate financial struggles for SMEs and individuals.

He criticized recent government policies, including tax hikes and compliance costs, for exacerbating these issues.

Lim called on ministers to engage directly with citizens and urged improved support from development agencies to ease operational challenges for businesses.

KUALA LUMPUR, Nov 5 — DAP’s Bagan MP Lim Guan Eng has urged the federal government to heed the political reckoning of the US midterm elections, warning that strong headline economic numbers will not save Putrajaya from voter backlash if everyday citizens continue to grapple with escalating living costs.

In a statement today, the former finance minister pointed to the Republican Party's defeat in the Nov 3 polls, which saw Democrats seize control of the US Congress after voters rejected several of President Donald Trump’s endorsed candidates, including in longstanding conservative bastions.

Lim noted that despite the US registering 3.4 per cent gross domestic product growth in the third quarter of 2026, voters remained unswayed because gains were concentrated in isolated sectors, creating a bifurcated two-tier economy that left ordinary households behind.

“Malaysia faces a similar two-tier economy. Despite a record 6% GDP growth in the 2nd quarter 2026, many MSMEs and individuals complain about the so-called “phantom growth and controlled inflation” that fails to arrest their declining business or improve affordability and reduce the cost of living.

“These challenges are compounded by the government’s hike in compliance costs and taxes last year,” Lim said.

He contended that top-line expansion has done little to arrest declining sales volumes, relieve margin compression, or make daily necessities affordable, arguing that aggressive tax hikes and rising regulatory compliance burdens introduced by the government over the past year have only deepened commercial anxieties.

To bridge the divide, Lim called on federal ministers to step outside their “air-conditioned rooms” and engage directly with struggling small business owners and employees across Malay, Chinese, and Indian communities.

He also took aim at bureaucrats heading statutory development agencies tasked with assisting small businesses, insisting they must “stop sleeping on the job” and actively champion policies that reduce operational friction and stimulate commerce.

Lim warned that while Malaysian leaders might feel indifferent toward Trump's political reversal, the underlying electoral dynamics are universal.

Disregarding public frustration over bread-and-butter struggles, he cautioned, will expose the ruling administration to an identical fate at the ballot box when the country next heads to the polls.

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民主行动党峇眼国会议员林冠英在一份声明中敦促马来西亚政府从美国中期选举中吸取教训，美国经济增长并未阻止因生活成本上升而导致的选民反弹。

林冠英强调了马来西亚类似的两级经济结构，该国 6% 的 GDP 增长并不能缓解中小企业和个人的财务困境。

他批评了近期政府的政策，包括增税和合规成本，认为这些政策加剧了这些问题。

林冠英呼吁部长们直接与民众沟通，并敦促发展机构加大支持力度，以减轻企业面临的运营挑战。

吉隆坡，11月5日讯——民主行动党峇眼国会议员林冠英敦促联邦政府重视美国中期选举的政治考量，并警告说，如果普通民众继续面临不断上涨的生活成本，强劲的经济数据也无法使布城免受选民的强烈反对。

这位前财政部长在今天的一份声明中指出，共和党在11月3日的选举中惨败，民主党在选民拒绝了唐纳德·特朗普总统支持的几位候选人（包括在长期以来的保守派堡垒中的候选人）后，夺取了美国国会的控制权。

林指出，尽管美国在 2026 年第三季度实现了 3.4% 的国内生产总值增长，但选民仍然没有被说服，因为增长集中在孤立的行业，造成了经济的分化和两级分化，使普通家庭被抛在了后面。

“马来西亚也面临着类似的双轨制经济。尽管2026年第二季度GDP增长创纪录地达到6%，但许多中小微企业和个人抱怨所谓的“虚假增长和可控通胀”，这既未能阻止其业务下滑，也未能提高生活水平和降低生活成本。”

林先生表示：“去年政府提高合规成本和税收，加剧了这些挑战。”

他认为，营收增长对阻止销量下滑、缓解利润率压缩或使日常必需品价格合理几乎没有起到任何作用，并指出，政府在过去一年中推行的激进增税和不断增加的监管合规负担只会加深商业焦虑。

为了弥合分歧，林冠英呼吁联邦部长们走出“空调房”，直接与马来人、华人、印度人社区中处境艰难的小企业主和员工接触。

他还抨击了负责协助小企业的法定发展机构的官员，坚持认为他们必须“停止玩忽职守”，积极倡导减少运营摩擦和刺激商业的政策。

林警告说，虽然马来西亚领导人可能对特朗普的政治转变漠不关心，但其背后的选举动态是普遍存在的。

他警告说，如果无视民众对民生问题的不满，执政政府将在下次国家大选时面临同样的命运。

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