I'm a Chinese Malaysian, and I look at the DEI debacles in the US with a mixture of amusement and sadness. In Malaysia, we have something similar to DEI that s

I'm a Chinese Malaysian, and I look at the DEI debacles in the US with a mixture of amusement and sadness. In Malaysia, we have something similar to DEI that stretches back to 1970. We call it the New Economic Policy (NEP), which aims to "restructure society" to achieve a more equitable distribution of wealth and opportunities across different ethnic groups. The explicit aim of the NEP is to increase the participation of Bumiputera (the "natives") in the economy, sometimes at the expense of the non-natives, the Chinese and Indians. The key target was to achieve 30% Bumiputera equity ownership of Malaysia's domestic corporations. 30% only? Bumiputeras constitute a much larger population percentage than that, even at that time. Furthermore, there was an expiry date attached to the policy: 20 years. So, for a Chinese person, enduring slight injustice for 20 years so that our friends can catch up with us—isn't that a good thing? Life is about give and take, right? Except that even after 20 years—in fact, after more than 50 years—in the eyes of politicians and policymakers, the objective of the NEP hasn't yet been accomplished, and it looks like it will continue indefinitely. That's right: despite the fact that all major companies require Bumiputera participation (never mind that it's a gambling conglomerate, which is supposed to remain forbidden (Haram) to Muslim Bumiputeras), and despite the fact that Bumiputeras now monopolize public sector posts, public university quotas, and administrative/teaching positions, and pretty much dominate every aspect of government institutions (the police, army, judiciary, and all are basically Bumiputera-dominated), the NEP must still continue, because it hasn't yet accomplished its goal. It will never accomplish its goal. Meanwhile, the side effects of the NEP are palpable. It's common agreement that Malaysia is lagging behind, especially when compared to our neighbor, Singapore. In 1970, it was 1 SGD vs. 1 RM, and now... it's 1 SGD vs. 3.3 RM. See how much our currency has declined compared to our neighbor. It's no secret that Singapore gladly welcomes Malaysian Chinese "refugees" who escape to that little island to avoid discrimination and frequent hate speech. Affirmative actions are a double-edged sword. They come at the expense of sacrificing market efficiency and some degree of fairness. And it's not at all clear that anyone can wield them well. I'm sure that the NEP's creators did have noble intentions and did try to minimize the side effects, but you can see where it's gotten them.