Review and Analysis of Malaysia's Economic Policies

2097 Words9 Pages
Neighboring countries Singapore and Malaysia may be geographically within spitting distance but their economic polices, corporate culture, future goals and many more are independent. According to a book written by Mahathir Mohamad, Malaysia views Singapore as a Chinese nation while they consider Malaysia primarily as the Malay state. (Mohamad, 2005) One factor these two nations share in common is the pluralistic feature. Even though each has a different dominant race, both nations comprise of similar races from similar backgrounds but different perspectives mostly due to the influence of how each nation or leader governs their economic and social policy towards a better development of the overall country. This essay will look into the effect of different policies applied to both nations and how the education system in both countries will have an influence on what the future policies will evolve into. This paper will focus on explaining the economic policies adopted in the past and discuss the outcome from the policies in order to assess future policies. Some of the economic policies implied in Malaysia have a touch of racial discrimination to it while Singapore implements policies that are strictly to enhance competition through an incentive-based rewarding system, regardless of race. For instance, after Malaysia’s full independence in 1957, The New Economic Policy (NEP) was created to reduce poverty and disassociate economic functions and race. This is due to the Chinese population being able to naturally benefit from the tin industry’s lucrative return while the Malays or better known, as Bumiputeras are not enjoying the same advantage due to their lack of knowledge. The NEP provided Bumiputeras with a whole lot of opportuni... ... middle of paper ... ...malaysian-education-more-alarming-than-household-debt-says-w [Accessed 13 April 2014]. Mahathir, M., 2012. Education, Not Mere Qualification. In Telling It Straight. 1st ed. Editions Didier Millet Pte Ltd. p.264. Sidhu, J.S., 2013. Fixing problems in education is no easy task. [Online] Available at: http://www.thestar.com.my/Business/Business-News/2013/12/14/Fixing-problems-in-education-is-no-easy-task/ [Accessed 12 April 2014]. Chatterjee, S.R. & Nankervis, A.R., 2007. Asian Management in Transition Emerging Themes. 1st ed. Palgrave Macmillian. Ngerng, R., 2013. How Is Singapore’s Education System Unequal? [Online] Available at: http://thehearttruths.com/2013/11/21/how-is-singapores-education-system-unequal/ [Accessed 12 April 2014]. Cohen, D., 1997. Singapore wants its universities to encourage more creativity. The Chronicle of Higher Education, A71(2).
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