KUALA LUMPUR, Jan 11 \u2014 Rawang assemblyman Chua Wei Kiat has weighed in on public frustration over rising prices, arguing that in Malaysia\u2019s free-market system, consumer behaviour is a powerful force that shapes the cost of everyday goods.<\/p>\n
His comments, made in a Facebook post, come amid growing public complaints over the rising prices.<\/p>\n
One social media user recently tagged Chua in a post questioning a hawker\u2019s 50 sen increase for a bowl of yee mee, which now costs RM10, asking if the Ministry of Domestic Trade and Cost of Living could investigate the justification.<\/p>\n
In response, Chua explained that prices are determined not just by input costs but also by market response.<\/p>\n
\u201cWhen everyone rushes to buy RM15 coffee, the market is telling businesses that RM15 is acceptable, and other sellers will follow that signal to maximise their profits,\u201d he wrote.<\/p>\n
He pointed to the recent boycotts of major brands over the Israel-Palestine war as a prime example of consumer power in action.<\/p>\n
\u201cRemember during the Palestine issue, when many Malaysians boycotted several big brands and places that used to have long queues suddenly became empty?What happened then? Businesses were forced to lower prices to survive,\u201d he added.<\/p>\n
Applying this logic, Chua advised that the most effective tool for consumers is their own purchasing power.<\/p>\n
\u201cIf you think something is too expensive, you can choose not to buy it and look for cheaper alternatives,\u201d he stated.<\/p>\n
\u201cWhen the market response tells sellers that prices are too high and business drops, they will reflect and adjust on their own.\u201d<\/p>\n
The PKR assemblyman clarified that the government\u2019s role is to manage the costs of basic raw materials to prevent prices from spiralling, not to control the retail price of every product.<\/p>\n
\u201c[Lawmakers] really can\u2019t control the market,\u201d he said. \u201cWe are not a communist country and do not have absolute power to control how the market operates.\u201d<\/p>\n
He reiterated that if prices continue to rise without a corresponding increase in raw material costs, it is a sign that consumer behaviour is telling the market that the prices are acceptable.<\/p>\n
He concluded his \u201ceconomics lesson\u201d with a quip: \u201cNext time I\u2019m charging a fee.\u201d<\/p>\n
Chua\u2019s post, however, drew criticism from some who felt he was lecturing his constituents rather than addressing their concerns, with one user writing: \u201cThe people don\u2019t want you to explain why things are expensive; they want you to find ways to alleviate the problem.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR, Jan 11 \u2014 Rawang assemblyman Chua Wei Kiat has weighed in on public frustration over rising…\n","protected":false},"author":2,"featured_media":239614,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,121445,77781,113,8432,61,60,121446,26814,57802],"class_list":{"0":"post-239613","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-chua-wei-kiat","10":"tag-consumer-behaviour","11":"tag-economy","12":"tag-facebook-post","13":"tag-ie","14":"tag-ireland","15":"tag-market-response","16":"tag-public-complaints","17":"tag-purchasing-power"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/239613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=239613"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/239613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/239614"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=239613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=239613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=239613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}