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Malaysia's Economic Sustainability
Confronting New Challenges Amidst Global Realities
By Ramona V. Navaratnam
264 pages, 5 3/4" x 8 3/4"
The remarkable thing about the Malaysian economy is not how far it has come but how well it has recovered from the Asian financial crisis of 1997. Tough times now beckon with a slowdown in the Western economies, where the chill winds of global downturn are beginning to nip at the ankles. Malaysia has been acknowledged as the richest and best managed Islamic democracy in the World. The question, however, is whether Malaysia can sustain this outstanding record of socio-economic development, with its enviable political stability and its unique brand of social engineering that has strengthened racial harmony in one of the most complex societies in the world. Will Malaysia be able to seize the opportunities that well managed globalization can provide or will it be "gobble-ised" and dominated by the economic might of the Western industrial powers and the powerful multinationals in the painful process of economic liberalization. Malaysian Prime Minister Dato' Seri Dr. Mahathir Mohamad has undoubtedly led Malaysia impressively into the 21st Century. With him at the helm steering the nation forward, Malaysia is today a modern nation and is moving steadily towards industrialized-nation status by the year 2020. Dr. Mahathir with his deep convictions and firm charismatic leadership, he won many economic and political battles in his twenty remarkable years as Prime Minister of Malaysia. Besides providing an overview of the Malaysian economy and what makes it tick, this book looks at the continuing concerns as to whether Malaysia can overcome the many new challenges that it will confront with the rising tide of globalization.