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While the birth of global economic governance is conventionally dated to the end of World War II, Jamie Martin shows how its roots lie in World War I and its aftermath. The Meddlers explores the intense political struggles about sovereignty and self-governance provoked by the first attempts to govern global capitalism.
William L. Baldwin argues that while the structure, conduct, and performance of the world tin industry are subject to strongly competitive market forces, major intervention by international governments has exerted a controlling influence over the world tin market for the past sixty years.
Although colonies are often viewed as having been of crucial economic importance to Britain’s empire, those responsible for administering the colonies were often not at all interested in or supportive of commercial ventures, as this book demonstrates. Based on extensive original research, and including detailed case studies of the agricultural and mining sectors in late nineteenth and early twentieth century Malaya, the book examines how administrators and capitalists interacted, showing how administrators were often hostile to business and created barriers to business success. It discusses in particular contradictory colonial government policies, confusion over land grants and conflicts within bureaucratic hierarchies, and outlines the impact of such difficulties, including the failure to attract capital inflows and outright business failures. Overall, the book casts a great deal of light on the detail of how business and government actually worked in Britain’s colonial empire.
Malaysia's multicultural society supports one of the most dynamic economies in Asia. This completely revised new edition of the standard text, first published twenty years ago, traces the history of the country from early times to the present day. The authors give particular attention to the evolution of Malay polities and their close links with indigenous groups who lived on the oceans and in the deep jungles of the region, from Sumatra to Borneo. This provides the background to the establishment of the Malay port of Melaka, which was conquered by the Portuguese in 1511, foreshadowing the establishment of a British colonial regime in the late nineteenth century. Although the large numbers of Chinese and Indian migrants who arrived to work in the tin and rubber industries contributed to economic expansion, colonial policies did not encourage communal interaction. The authors trace the process by which post-independence leaders in Malaya attempted to counter the legacy of ethnic hostility while answering Malay demands for an affirmation of their rights and a stronger commitment to Islam. The incorporation of the Borneo states of Sarawak and Sabah into the Federation of Malaysia in 1963 rendered the goal of welding a nation from areas that were geographically separated and culturally disparate even more problematic. The intense emotions attached to issues of race were made tragically evident in the racial riots of May 1969, which this book sees as a watershed in modern Malaysian history. As Malaysia enters the twenty-first century, the government is determined to oversee the transition to an economy focused on manufacturing and advanced technology, and to eliminate poverty and the association between occupation and race. While several recent studies deal with the impact of colonial rule and Malaysia's spectacular economic transition, this book is unique because it tracks developments from early times and identifies continuities as well as change. Combining the authors' specialist knowledge of precolonial sources with the most recent contemporary research, this new edition reinforces the position of A History of Malaysia position as a standard reference for all those interested in the historical processes which led to the emergence of this culturally varied and economically energetic country.
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.