Malaysia Country Report Essay -- essays research papers fc

As the world prepares to move into the twenty-first century, many nations are rapidly developing their agricultural and manufacturing sectors. As these burgeoning industries become a larger part of the nation’s economy, the nation finds its population restructuring and streaming to the areas of growth. Just as the people are trying to compete for their survival, the nation is fighting its way to center stage in the world economy. The development of these countries is tied to the world’s economy, as is evidenced by the uneven development within each of the nations. Malaysia’s growing role in the world economy is likewise intertwined with the development of its industrial regions. Malaysia’s economy is centered on the production of rubber, timber, tin, and petroleum. Almost all of the country’s production of rubber and palm oil is raised solely for export. Historically, rubber was the dominant export, but now it is palm oil in terms of square miles used to cultivate it. Rubber, like â€Å"no other major commodity in the world,† was subject to â€Å"dramatic and rapid shifts in sources and derivation of demand† (McHale, 9). Thus, Malaysia has been moving away from its complete dependency on rubber for its income, and begun to diversify its economy. The peninsula’s forests produce approximately 1,100,000 tons of timber each year, and about two thirds of that is exported. Up to 1965, Malaysia was producing 40% of the world’s tin supply. However, with its quickly diversifying economy, Malaysia no longer depends on tin as a substantial part of its income. Small amounts of other useful minerals can be found all over Malaysia , as it is a naturally abundant land. Its major exports are electronic equipment, machinery, petroleum, palm oil, rubber, timber, and tin. The biggest trading partners are Japan, the United States, and Singapore. Other trading partners include the United Kingdom and Russia. About two thirds of the land on the peninsula is devoted to the cultivation of rubber, and Malaysia produces more than a third of the world’s rubber. Tin is the second largest export, and has been mined on the peninsula since the 17th century. Since Malaysia’s exports are mostly raw materials, and raw materials are susceptible to wildly fluctuating market prices, Malaysia’s economy is easily affected by market swings. For example, just a one cent fall in the price of rubber would decre... ...Cal Clark, eds. The Evolving Pacific Basin in the Global Political Economy. United States: Lynne Rienner Publishers, Inc., 1992. Cheok, Cheong Kee and Lin Lean Lim. Demographic Impact on Socio-Economic Development The Malaysia Experience. Canberra, Australia: The Australian National University, 1982. Drabble, J.H. Rubber in Malaya 1876-1922. Malaysia: Oxford University Press, 1973. Jomo, K.S. Growth and structural Change in the Malaysian Economy. London: The MacMillan Press Ltd., 1990. Lim, David, ed. Further Readings on Malaysian Economic Development. Malaysia: Oxford University Press, 1983. Lim, Lin Lean. Population and Development: Theory and Empirical Evidence. Malaysia: International Book Service, 1983. â€Å"Malaysia.† Encyclopedia Britannica: Macropaedia. 1973. McHale, T.R. Rubber and the Malaysian Economy. Singapore: M.P.H. Publications, 1966. Peng, Khor Kok. Recession and the Malaysian Economy. Malaysia: Institut Masyarakat, 1983. Schatzl, Ludwig H., ed. Growth and Spatial Equity in West Malaysia. Singapore: Institute of Southeast Asian Studies, 1988. Yee, Lo Sum. The Development Performance of West Malaysia 1955-1967. Malaysia: Heinemann Educational Books, 1972.