My definition: Rempitism (noun; also concept and ideology borrow from the neo-Malay word rempit) - a Malaysian phenomenon in which youth uses the public road system to break the speed limit with customised motorbikes in illegal, past-midnight drag-races that rob the restful sleep of peaceful citizens; a phenomena akin to a capitalist economy of a struggling showcasing Third Word nation such a Malaysia that hypermodernises beyond the ability of its people to cope with its sensationalised designs of 'economic miracles'.
Both phenomena rest upon idiotic pride and arrogance that endanger a peaceful, ethical and sustainable future. Both present clear and present danger on the equally dangerous highway of globalisation. See also rempitise (adjective) and Mat Rempit (special noun).