6411. Aligning the maritime industry towards realizing the New Economic Model aspirations
- Author:
- Nazery Khalid
- Publication Date:
- 04-2010
- Content Type:
- Policy Brief
- Institution:
- Maritime Institute of Malaysia
- Abstract:
- Malaysia is at a crossroad. It has done well to boost economic growth, thanks to sound economic strategies and management. From being a developing nation dependent upon commodities and agriculture to power its economic growth, Malaysia is now one of the top 20 trading nations. However, it has found itself 'stuck' in so-called 'middle income trap'. The economy, while more diversified today compared to three decades ago, is still reliant upon labor intensive activities and, inevitably, cheap labor. Malaysia's vulnerability to external shocks, as seen during the recession and credit crunch, underscores the urgent need for the nation's economic planners and policymakers to take drastic actions to make the economy more robust and move it up the value chain.
- Topic:
- Economics, International Trade and Finance, and Maritime Commerce
- Political Geography:
- Malaysia and Southeast Asia