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Information Background
Malaysia is a country with developing economy. It belongs to group of the richest and developed countries among developing countries - to the group of New Industrial Countries. “In 2007, the economy of Malaysia was the 29th largest economy in the world by purchasing power parity with gross domestic product for 2007 was estimated to be $357.9 billion”-(from Wikipedia,free Encyclopedia).
Nowadays Malaysia became the world’s largest producer of tin, rubber, and palm oil. These three commodities along with other raw materials firmly set Malaysia's economic tempo well into the mid-20th century (from Wikipedia,free Encyclopedia).
In August 2007 Malaysia celebrated its 50 anniversary of independence. For almost 400 years Malaysia was a colony of British Empire and for that time when Malaysia got its independence, Malaysia was one of the poorest country in the world.
The GDP of Malaysia on that time was equal to GDP of such countries as Haiti, Honduras and Egypt and approximately less on 5% of GDP Ghana. Nowadays the income of Malaysia is greater than income of Ghana on 7,8 %, greater on 5 % of income of Honduras, and greater on 2,5 % of income of Egypt. In the list of world developing countries Malaysia taking the first place as China, Taiwan, South Korea and Thailand. The economists of the whole world called this phenomenon as “Malaysian Miracle”.
Research Question:
How Malaysia got out from economic crisis, by what way?
Features of Economic Development of the Country
In Malaysia agriculture is 7,3 % of gross domestic product, the industry - 33,5 %, and sphere of services - 59,1 % of gross domestic product. The population of the country is occu ...