Description
Malaysia's economic transformation has been nothing short of remarkable. Within the span of a generation, Malaysia has become a newly-industrialised country with exports outstripping agricultural produce. Malaysia has become the world's 19th largest trading nation in less than 40 years of independence.
The push towards high-technology industries and away from labour-intensive assembly-line operations brings forth new challenges for Malaysia. At the same time, new stresses and strains have emerged as a result of the nation's economic success. The acute labour shortage, for instance, has caused wage costs to spiral, whilst dependence on foreign labour has resulted in social problems.
MALAYSIA TODAY TOWARDS THE NEW MILLENNIUM provides a multi-faceted overview of Malaysia's vision, hopes, strategies and direction. By chronicling Malaysia's achievements and successes, it provides an insight into the nation today and its future direction. By delving into areas as diverse as economics, infrastructure, industry, defence and foreign policy, and the Malaysian experience, it paints a picture of far- sighted strategic thinking and planning, determined leadership and the search for solutions to age-old problems. In order to remain globally competitive, Malaysia will have to depend on its ability to promote new sources of growth. Capital-intensive and high value-added technology-based industries will be the cornerstone of its economic development strategy.
