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Economic Security vs Globalisation: The Case of Malaysia (Malaysia economy…
Economic Security vs Globalisation: The Case of Malaysia
Malaysia economy
0.4% from total world economy
https://www.visualcapitalist.com/80-trillion-world-economy-one-chart/
small and need outward looking
trade openness
basic intermediate product - oil palm produce soap, electronic good
must be export oriented
Problem
Malaysia keep on producing low value added product
That's why we can't pay high
FDI not the yardstick to show competitiveness
coordination work between agencies not good
principle
Free competition
doesn tment competitive
competitive -means lowest cost, produce high profit and consumer low cost
competitiveness inward looking
Globalisation
the whole global value chain, how much we capture
https://en.wikipedia.org/wiki/Global_value_chain
What strategy should we adopt in order to capture the value of high value chain
if our policy encourage and promoting, we might loose in capturing the value
Policy
Import substitution
Productivity - value added per worker
Balance of payment
Trekking of the economy
primary income always -ve
foreign labour
2 million registered 7million unregistered
Current account good.. 1,2,3,4 from the slide
Value added multiplier
we got skill, technology, productivity
need to be more selective in receiving FDI
WTO level
Import Dependency
we import Food more than we export
food security
Constant Market Share Analysis
Indicator
GDP per ca pita 15,000 USD
Household Income
