The 14th general election in May 2018 brought about an unexpected change in political rule in Malaysia for the first time since the country's independence in 1957. In its first year of rule, the new Pakatan Harapan‐led government implemented several populist economic policies that were drawn from its election manifesto. While these policies may have moderated populist politics to some extent, they have also weakened the government's fiscal capacity. Ethnic fragmentation and a strengthened opposition alliance have also made it difficult for the new government to implement its ambitious institutional reform agenda.

中文翻译：

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马来西亚政权更迭后的经济改革

2018 年 5 月的第 14 届大选为马来西亚的政治统治带来了自 1957 年独立以来的首次意外变化。 在执政的第一年，新的民联政府实施了几项民粹主义经济政策从它的竞选宣言来看。虽然这些政策可能在一定程度上缓和了民粹主义政治，但也削弱了政府的财政能力。种族分裂和反对派联盟的加强也使新政府难以实施其雄心勃勃的体制改革议程。