Author: Major M. Nazrul Islam
ISBN: 984-07-457-2, Bangla Academy (2007)
Asian America “Story of Malaysian Economic Success”
“Inclusion of the excluded” policy is a popular economic term which links with Malaysia. Illuminating these policies and research – in 2007, Nazrul Islam has been published a book on “Economic Success of Malaysia” from Bangla Academy. Author dedicates this manuscript who owns the economic transformation and collective development of mass people.
This book deals with – the economic perspective of Malaysia; genesis and growth of nationalism; political, social, economic, cultural collaboration; structure of state and nation building – problems indicated in Malaysia; role of Association of South East Asian Nations ( ASEAN) in economic cooperation and development; politico-strategic concept; development strategies of Malaysia.
Writer estimates how pragmatic resources allocation links to Malaysian macroeconomic development. Author clarifies the importance of Malaysian success through regional economic cooperation and how it facilitates by industry, agriculture, transport, trade and foreign exchange and export promotion.
As a developing country – Malaysia was an example of extreme and hardcore poverty, income poverty, food poverty, jobless poverty, housing poverty, education poverty, health poverty, child poverty, poverty of landless people, poverty of exterminate people; ecological poverty, insecurity induced poverty of mass people, poverty of political freedom, poverty of and marginal people.
Researcher mentions Malaysia utilized their natural resources for social welfare, economic development, urbanization, industrialization, transportation and communication systems. It is common that the presence or absence of natural resources need not stop a country from getting rich where it influences the process of getting rich both negatively and positively. African Countries are lagging behind in growth but all are resource-rich, while the countries like Malaysia, South Korea, Taiwan and Singapore − are all resource-poor but are growth smart.
Malaysia was committed to economic development through exploration, extraction and management of natural resources by their own national agencies and capacities as well as they discouraged the all sections of resource-curse model, extended hand of Rent-seekers, Influences of international companies, gap between policy formation and implementation.
The outcome of Malaysian strategic decision ensured a rapid and firm growth rate in their economic field. The growth pattern of their economic boom may some as a lesson for Bangladesh. If we compare the status of Malaysian economy with Bangladesh through the every indicators of economic development − the possibility if Bangabondhu alive, where Bangladesh would go financially and socially. The average GDP could be 9% from 1973 to 2011. Interesting point is, Mahathir Muhammad got the prime-minister ship again to lead the sustainable development.
Malaysian policies convert the situation ‘poverty’ which makes people powerless, isolate, hopeless, helpless and weak to the welfare society. During that context it was tough of middle class, extreme and hardcore poor people to acclimatize with health shocks and natural shocks.
Researcher explains that Malaysia − employs home grown development philosophies – provide moral and material incentive to mass people, exclude black economy politics, negative externality; stop the politics of religion, do not accept foreign aid with unfavorable conditions, ensure proper distribution system, ensure knowledge and skill based education, improving the mass people oriented health care system and ensure social safety nets.
This manuscript is very elemental for present-day circumstance as we are going to middle income country by the year of 2021 and developed country by 2041. We have to take up society, people and environment oriented strategies for economically, socially, environmentally sustainable Bangladesh.
This book is very compassionate for the development researchers and academicians.
Reviewed By Shishir Reza; Environmental Analyst & Associate Member, Bangladesh Economic Association.