Sultan Nazrin recounts M’sia’s economic evolution in new book
KUALA LUMPUR: The presentday structure of the Malaysian economy is broad- based and reasonably diversif ied with the shares of agriculture and mining in gross domestic product (GDP) declined below 20 per cent combined, while services grew to above 50 per cent.
What is the economic legacy of British colonialism in the Malay Peninsula, and how differently has the economy performed under national management? Sultan Nazrin Muizzuddin Shah, Sultan of Perak
By contrast, the economy of Malaya a century ago was largely agrarian, supported by two primary commodity pillars, namely tin and rubber, produced to meet the needs of the industries and people in European countries and North America following their industrial revolutions.
The study was outlined in a new book entitled “Charting the Economy, Early 20th Century Malaya and Contemporary Malaysian Contrasts” authored by the Sultan of Perak, Sultan Nazrin Muizzuddin Shah.
The hardcover book, which was launched by Sultan Nazrin himself here today, charts the course of Malaya’s commoditydependent economy during the first 40 years of the 20th century under British colonial control, contrasting that course with the economic growth and development in contemporary Malaysia.
Sultan Nazrin gave the first copy of the book, which was published by the Oxford University Press, to his PhD adviser at Harvard University, Prof Dwight H. Perkins. “What is the economic legacy of British colonialism in the Malay Peninsula, and how differently has the economy performed under national management?” asked Sultan Nazrin in 234-page book.
By deriving estimates of Malaya’s GDP and its components for 1900-1939, and analysing trends and their interrelationships, it deepens understanding of the dynamics of economic performance during these four decades.
The book traces the country’s economic development in early 20th century (chapter 2), which was closely related to population dynamics. Turn to Page B4, Col 4