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Charting the Economy assesses the course of Malayas commodity-dependent economy during the first 40 years of the 20th century under British colonial control, contrasting it with economic growth and development in contemporary Malaysia. Drawing on archival documents to derive estimates of Malayas GDP and analysing trends, it breaks new ground in understanding the dynamics of economic performance. In the first half of the 20th century, the Malay Peninsula, like much of Southeast Asia, was under colonial rule. Colonialism facilitated the control of lands, institutions and peoples, as well as the exploitation of natural resources. Malayas economy was largely agrarian, supported by two primary commodity pillarstin and rubberproduced to meet the needs of the industries and people in Europe and North America. Sultan Nazrin Shah eloquently articulates how the economy rode a commodity roller-coaster. Being small and open, it was exceedingly vulnerable to external cyclical shocksWorld War I (19141918), the Roaring Twenties (19201929), and the Great Depression (19291932)which were the main causes of economic booms and busts. This book makes a compelling case that the colonial laissez-faire economic system worked well for the agency houses that repatriated huge profits but paid small dividends to the masses. Development was highly uneven, with growth and prosperity concentrated in and benefiting the Peninsulas west coast states, where most of the tin mines and rubber plantations were located. After independence, national control over economic management was accompanied by a long-term vision for a socially just nation. Real GDP growth in post-independence Malaysia brought rapid advances in standards of living.
This book examines the national automotive policy in Malaysia to help readers gain an understanding of the country’s industrial policy-making processes. Addressing a gap in analysis of the political economy of the national automotive policy, the research presented combines the new institutional theory and the developmental state approach to provide new insights into elite policymakers’ measures to shield domestic automotive enterprises from pro-market reforms. The formation of the national car project marks a turning point for Malaysia's industrial development as a country, which it envisions will lead to it becoming a major player in the global automotive market. However, the domestic institutional factors embedded in ethno-economic interests and patronage constrain national car-makers, limiting their potential to grow, and instead causing a slowdown in the industry. Allowing readers to understand the background to Malaysia’s heavy industrialisation programme and the birth of its national car projects, this book critically discusses the significance of institutional context in policy outcomes, and highlights how institutions and policies have impact growth or decline. It is a valuable resource relevant to analysts, researchers and students who are interested in the political economy of the national industrial policy and automotive industry in Malaysia and beyond.
This book examines state-state relations and new forms of state business relations that have emerged with an increase in China’s foreign direct investments in Malaysia. Focusing on investments in the industrial sector and through in-depth case studies, this book adopts a novel framework to analyse these different types of state-business relations. These new forms of state-business relations are created from the different modes of negotiations between different key actors in each of the cases. Diverse outcomes were found, reflecting the disparate forms of power relationships and state cohesiveness with unique institutional architectures formed in each case. The book identifies a major shift in structural power in these new forms of state-business relations as China’s large multinational state-owned enterprises increasingly invest in Malaysia. A well-constructed institutional architecture is needed, not just in Malaysia but for other Southeast Asian countries, if foreign investments are to be harnessed to promote effective industrial development.
This book presents the future development of Malaysia. It puts together building blocks to achieve a better future. These blocks are poverty and income inequality, population, demography and urbanization, growth and technological progress, education, human capital and skills, finance, labor, the environment, and health care. It examines the reasons for the decline in the agricultural sector with an emphasis on food security. It discusses Malaysia’s economic growth and structural change compared to some of the Northeast East Asian and Southeast Asian countries. It explains the projections of population and demographic change and its bearing on government policies. It evaluates the country’s education sector and discusses the strategies to improve its role in the country further. It argues for replacing ethnic-based approaches with a needs-based system for the future direction to build a plural Malaysia. This insightful book is of interest across several fields, including demography, economic development, and urbanization.
In the wake of Malaysia’s 13th General Election some commentators speak of a sharpening of ethnic politics — with Prime Minister Najib blaming a “Chinese tsunami” for his government’s polling setbacks; others are optimistic about the arrival of a new “non-racialized form of politics” and the emergence of “transethnic solidarity”. This book, which engages with both the race paradigm and its opponents, warns that change is likely to come slowly — but is not impossible. Malaysia’s race paradigm is a man-made ideological construct — one that has been contested in the past, and could realistically be contested in the future. In confronting the continuing challenge of globalization, Malaysians should not neglect the history of ideas — and ideology — as they search for new options.
Malaysia’s Taxation System: Contemporary Practices, Issues and Future Direction offers a clear and concise analysis of Malaysia’s taxation system in terms of its origin and its adaptation to changing economic and social conditions. With unique insights from experienced legal, accounting, and tax practitioners and eminent academics, this book highlights the need for a holistic review of the taxation system going forward as the country strives for high-income status in the near future.
Supporting and Sustaining Well-Being in the Workplace: Insights from a Developing Economy covers unique perspectives on issues effecting personal well-being, including depression, working conditions that affect home life, mindfulness, and character building at the workplace.