GDP, as one of the key indicators of national strength, can reflect the overall economic level of a country more comprehensively, although there are many controversies.
From a GDP perspective, the size of a country is not the only criterion for determining strength. Neighbouring Malaysia, for example, has an impressive GDP despite its modest terrain. So, why is Malaysia able to maintain such a high level of economy in the absence of obvious pillar industries?
First of all, in terms of land area, Malaysia is a relatively small Asian country, with a total population of less than 35 million, which is not even one-third of China's Guangdong Province. However, on the economic front, the scarcity of the population has become an advantage, especially under the influence of the epidemic, Malaysia's GDP has reached 370 billion US dollars, which is impressive.
While Malaysia is not without its pillar industries, it does not dominate the world. Tourism and the rubber industry have long been the most prominent pillars of Malaysia's economy.
Malaysia is blessed with a unique tourism environment and is located in a tropical region, which attracts a large number of tourists. Although the tourism industry has been hit hard during the pandemic, Malaysia's tourism industry has been able to recover quickly thanks to exports from places such as Singapore. This industry provides nearly a quarter of the country's jobs, resulting in a significant reduction in unemployment, which has boosted the economy.
Secondly, the rubber industry, as one of the largest rubber exporters in Asia, has built a huge industrial chain relying on the global demand for rubber. Although rubber is a natural product, it is in extremely high demand in terms of climate, and many developed countries are still very dependent on imports. As long as the demand for rubber continues, Malaysia's economy will be able to maintain its growth.
However, Malaysia's development is inseparable from its unique strategy. As early as 1957, after independence, Malaysia chose a development model that depended on other countries. After Singapore's independence, Malaysia shifted its development focus to Japan. During Japan's economic boom, Malaysia became an important source of resources for Japan in Asia, with economic growth reaching an astonishing 10%.
However, over-reliance on Japan led to an economic crisis in 1997. With the explosion of the real estate economic bubble in Japan, Malaysia suffered huge losses. At this critical juncture, Malaysia faces a dilemma: to change its development model or to remain dependent
At this moment, neighboring Singapore came to the fore. Singapore has achieved world-class achievements in high-end manufacturing, finance and technology, and has achieved independent development. Seeing the rise of Singapore, Malaysia chose to rely on Singapore and began to adjust its domestic development structure.
After a short run-in, Malaysia has formed a development model dominated by tourism, low-end manufacturing and raw materials, and has achieved great success with the support of Singapore. Tourism has become the backbone of Malaysia's economy, thanks to close cooperation with Singapore, and Singapore's high-tech industry provides a higher level of resource exports.
However, the dependency model also comes with its own set of challenges. Under the influence of the epidemic, Malaysia's domestic economic level has declined, and the number of unemployed people has been increasing. As a high-welfare state, the expenditure on national security is also quite large. Perhaps under the impact of the epidemic, Malaysia will face a new round of choices.
Although Malaysia's GDP is high, the country's overall economic aggregate is not considerable, and it is extremely unstable, and it is easily affected by external factors. Compared with China, Malaysia has yet to find a stable path of independent development.
Perhaps in terms of GDP, Malaysia may never be able to catch up with Malaysia, but this epidemic has brought a new transformation to Malaysia. It is believed that in the near future, the economic development of various regions in our country will become faster and faster, especially in the field of high technology. Perhaps, the next pillar of our country's economy will be our own legs.
This article provides an insightful look at Malaysia's economic development path and the strategic choices behind it, providing readers with an in-depth understanding of the Southeast Asian country's unique development trajectory. First, the article draws attention to Malaysia, a seemingly inconspicuous but economically powerful country by emphasizing that the size of a country is not the only measure of strength through an interpretation of GDP.
Explaining the reasons for Malaysia's success, the article mentions the country's unique pillar industries: tourism and the rubber industry. Through the development of these two industries, Malaysia has successfully transformed the disadvantage of sparse population into an advantage in economic development. The tourism sector, in particular, is well illustrated in the article, highlighting the resilience of Malaysia's economy during the pandemic and its positive impact on the unemployment rate.
On the other hand, the article highlights Malaysia's strategic choices, especially the choice between dependent development and independent rise. From its initial attachment to Japan to its later attachment to Singapore, Malaysia's transformation has demonstrated its flexibility and sensitivity to the international situation. This strategic choice has enabled Malaysia to find a relatively solid foothold in global economic fluctuations, thereby maintaining a high level of economy.
However, the article also provides an objective analysis of the drawbacks brought about by this dependency model. Under the influence of the epidemic, Malaysia's domestic economic level has declined, the number of unemployed people has increased, and the problem of high welfare expenditure has gradually emerged. This makes it easier for readers to see the fragility of dependency patterns, as well as the uncertainties faced in the midst of international economic fluctuations.
Finally, the article concludes with an outlook on China's future development, emphasizing the new changes that the epidemic has brought to China's economy. By comparing Malaysia, the article seems to imply that Malaysia may rise in the high-tech field and achieve a greater economic breakthrough. Such an outlook not only provides readers with optimistic expectations for the future of our country, but also echoes the article's initial statement that GDP is not the only criterion.
Overall, the in-depth interpretation and objective analysis of the article in this review** provides readers with a comprehensive understanding of Malaysia's unique economic development model. Through detailed examples and data, the article vividly shows how a country can achieve economic breakthroughs and development through strategic choices in a complex international environment.
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