The Asia Recovery
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The Asia Recovery

Issues and Aspects of Development, Growth, Trade and Investment

Edited by Tran Van Hoa

This book explores in-depth the major issues and important aspects of this economic recovery and its potential impact on growth, development, trade and investment. Expert contributors also discuss the global directions in international economic and financial relations, corporate and public governance and the challenges to be met and managed in the 21st century.
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Chapter 5: Malaysia's recovery: issues in economic management, trade policy, knowledge-based industries and globalization

Tran Van Hoa

Extract

5. Malaysia’s recovery: issues in economic management, trade policy, knowledge-based industries and globalization Tran Van Hoa INTRODUCTION 1 Malaysia is a modern growing Asian economy with a complex family of peoples and cultures and a melting pot of traditions stemming from the Malay Archipelago as well as from China, India and, in recent times, Portugal, Holland, Great Britain and Japan. Small Malayan kingdoms existed in the second or third centuries AD, when adventurers from India arrived and started what has become known as the Indian influence for more than 1000 years. Sumatran exiles founded Malacca (or Malega) in about 1400 AD and secured Chinese protection for the city-state. It later became a commercial and Islamic religious centre, but was captured by the Portuguese in 1511 and the Dutch in 1641, and lost its commercial status shortly after. The Minangkabau peoples from Sumatra migrated to Malaya during the late 17th century and brought with them a matrilineal culture. Also, in the 18th century, the Buginese from the island of Celebes invaded Malaya and established the sultanates of Selanggor and Johore (Encyclopaedia Britannica, Internet, June 2000). In more recent times. the British founded the Straits Settlements – Malacca, Singapore, and Penang (or Pinang) Island – in the late 1800s, and the Chinese also began to migrate to Malaya in the late 19th century. During their rule in Malaya, the British invested heavily in the country, especially from the 1890s, developing in the process transport and rubber planting. This can be regarded as the setting...

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