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Your reflections are greatly appreciated. As our report argues in some detail, progress on the structural reform front holds the key to Malaysia’s medium-term growth prospects. The breadth, depth and speed with which structural reforms are implemented will in no small way determine Malaysia’s growth performance for the years to come. The pathways to a high-income economy will of course be fashioned by political considerations about what is feasible and what is not, but overshadowing these are new economic realities that are posing a tremendous challenge - and opportunity. The external environment has changed significantly and continues to change rapidly. Export and FDI competition has picked up dramatically and is likely to intensify as the world economy completes its adjustment. Meanwhile, countries in the region are moving up the value chain and encompassing ever-greater chunks of the regional supply chain. The new economic realities are likely an important driver of Malaysia's reform momentum, as the fall-back option of the status quo may afford limited breathing space. It is also in this context that the formulation of the New Economic Model can be placed, as a way to seize the opportunity to reposition the Malaysian economy for growth.