“Apple Market Cap Touches $600 Billion!” reported by the Wall Street Journal as dated on April 10, 2012 speaks volumes to to out national economic standings. The question that we should pose to ourselves here is “Is Brunei being left out?”
In this article I will 1st outline why I thought of this, how it matters to each of the citizens of Brunei Darussalam and finally how we should embrace a more entrepreneurial economy by assimilating and adapting the youths under a Capitalistic mindset by working part time whilst studying.
When you try to compare Brunei Darussalam’s total national output of 10.73Bn on 2009 to Apple’s $600Bn, its like comparing a baby pigeon to an eagle. Simply put Apple is worth 60 times the total output production of Brunei Darussalam!!! That is a nation against a public enterprise’s value, the latter worth more than the former speak massive volumes in terms of our global standings in the world. How could a company worth much more than a nation is simply hard to digest, at first.
But any student interested in national development could not miss that point as so much as seeing his or her country under performing against private enterprises. Here Apple was, a company conceived by Steve jobs, in a lifetime, can outperform a nation’s GDP, extending the enterprise to unconquerable heights of achievement that only a few can ever hope to achieve.
Does this pose adequate evidence that Capitalists are the ones who actually pulls the strings of the world?
Going to the point of why this matters to Bruneians in general is that it is mind boggling as you start to comprehend the fact that a public company such as Apple can produce exceeding amount of output than a nation rich for its oil and gas reserves. Think of it, if Brunei has that output of USD$600Bn where would we all be today? Heck we would be the Dubai of the east already! or in relative or far stretched terms we can say Dubai is Brunei of the middle east!
In terms of our fund management, Brunei has a total of USD$30 Billion in our Sovereign Wealth Fund but with the free flow sharing of information in this internet age, once we try to compare that figure to that of one of the most successful global capitalists such as George Soros’s wealth fund company, its almost the same amount too. I think its better if we hire him as one of our main fund manager!!! At least that will multiply our wealth at least by the folds.
One man, One enterprise. One man, One nation. Guess who wins in this context?
Brunei should not be left behind. Clearly to some people’s thought, we Bruneians should not try to copy other nations but its a limiting thought. The moment when we try to set benchmarks on only ourselves is the moment we become complacent. Its from my opinion, healthy for us to know that others nationals are hustling and bustling their way into developing their country, it makes us competitive and keeps us on the edge. The “Kiasu” mind set is there. In this context however its comparing ourselves against a private company that is way beyond our capacity. At least for now.
We all should learn on how to run our nation like enterprises, we should all minimize the existence of beggars and bums of society who does not do anything but beg and bum around. In this case it includes those youths who are unemployed or at least that is what they consider themselves as. They say that unemployment is high in Brunei and that recent graduates could not find decent jobs. Well the message I can give to these people is to try harder! Be a waiter, be a cleaner, do something! Contrary to popular belief, there are actually plenty of jobs to go around as mentioned, at least that will give you experience so you can negotiate with your future employer one day. Not only that it could shape your character.
Why I mention about unemployment and jobs all root to the question in the topic, is “Brunei Being left out?”. Apple, Google, Soros Fund Management and the likes are way ahead of the field in their own industries partly because they have capable human capital resources which they can utilize at will. If Brunei is going to be as successful as managing its affairs it has to learn on how to build a strong human capital resources that are imaginative, visionary and bold as Steve Jobs, Eric Schmidt and George Soros.
Part of solution is to have students and the youths taking part time jobs so as to help them get into the working mindset early in life. Its more than just education alone, its experience that is necessary to inspire the youths to build up our country. In an article written by someone(:P) entitled A Capitalistic Manifesto of Brunei Darussalam after Oil and Gas outlines how we Bruneians should think as Capitalists in order to transform our nation.
To conclude, a private enterprise out-values a nation as ours is simply hard to digest. It shows that our nation is still in need of further development in many fields of endeavor. Our sovereign wealth fund is performing very well but how well considering private enterprise management funds? Further more we need more leaders in the nation and most of them will be borne in this generation of youths. And part of the solution which I outline is enforcing or coaxing the youths to take part time jobs to help mold and shape their characters while at that. Thus implementing a capitalistic thought to develop finally a capitalistic nation.
The Greater Brunei Darussalam of 2035 will be of global reckoning.