Turning turbulence into opportunity: How Malaysia can thrive in an age of uncertainty — Nur Fareza Mustapha (opens original article in a new tab)

The article compares current global energy crises to the 1970s oil shocks, highlighting historical economic impacts and the need for strategic policy responses in Malaysia.

• The 1973 oil embargo led to a fourfold increase in oil prices and global economic turmoil including stagflation and slowed growth.
• Malaysia's 1970s oil shocks caused significant increases in food and fuel import prices, slowing economic growth to 3.5% in 1975.
• Current global energy crisis shares similarities with 1970s challenges, prompting calls for strategic policies to enhance household well-being and firm productivity.