If I wasn't that busy, I would have written a post that is not too different from this one. Although it seems like the author was ranting, but he brings in very true and insightful points. It is very seldom I let someone else do the talking for me, but in this case, there really isn't too much more I can add to it.
Basically, I think he more or less addresses the pertinent issues that Malaysia is facing and has been facing for the past 40 years. He talks about the problems of over-subsidizing, the Malaysian education system, and the "brain drain" problem, among others. If I had to pick a year, I would probably pinpoint 1970 as the beginning of the end.
I won't spoil the fun. Here is the link again.
