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Globalisation in Malaysia

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Introduction

EC280: International Business Analysis Globalisation in Malaysia Contents: Page: Introduction 1 Malaysia and its economy 1 Globalisation and the challenges Malaysia face 2 Education 3 Corruption 4 Family planning 5 Investing in R&D and ICT 5 Conclusion 6 Bibliography 7 Appendix 1: Map of Malaysia 9 Appendix 2: Table to show Origin of GDP in Malaysia 10 Introduction: This paper is based on the challenges that globalisation presents to Malaysia and assesses how Malaysia is responding to those challenges. Malaysia: Malaysia is located along the southern part of the Southeast Asian peninsula. Countries that neighbour Malaysia include Singapore, Thailand and Indonesia and Philippines (see Appendix 1 for map of Malaysia). The country produces rice, rubber, oil and electronics. The capital, Kuala Lumpur is a centre of international business and boasts one of the world's highest office buildings, the 452 metre high Petronas Twin Towers (Steele, 2000, pg.94). Malaysia's economy has experienced rapid growth since the 1980s, having made the transition from being an agricultural-dependent economy to an industrial-based one. This growth was mostly driven by exports -mainly electronics. Today, Malaysia is one of the biggest exporters of hard drives and memory chips across the world (gov.my). ...read more.

Middle

Education: The demand for education in Malaysia is high, however the standard of it has been criticised for being extremely low and basic, with too much focus on learning and not enough on developing creative and analytical skills. In order for Malaysia to achieve its targeted goal of becoming a fully developed nation by 2020, it needs to create a higher educated and skilled workforce. This can only be done by improving the quality of education. Malaysia needs to change aspects of its curriculum to make it more versatile and innovative, and start focusing more on applying higher technology and developing life and work skills. This will result in a highly-skilled and knowledgeable workforce who possesses IT, creative, critical and analytical skills. These skills can then be used to boost the services sector in Malaysia and sustain high economic growth. Training teachers on how to use new technology and software will ensure higher quality education. Facilities and equipment must be up to date, so teaching is more current and meaningful. Training teachers to use different styles and methods of teaching will help increase the quality of education (unicef.org). Education in Malaysia continues until University (Higher Education). ...read more.

Conclusion

Malaysia's National Broadband Plan target of penetrating broadband into 25% of households by 2006 failed, and so the government has planned to achieve the target by 2010. To reach this goal, incentives such as free first-time installation schemes were set up. Computer vouchers are also given to low-income families to purchase computers (Malaysian Budget 2008). This scheme would appear to be a positive one, although no data has been released yet, as it gives the whole of Malaysia an opportunity to experiment with ICT and develop important skills. Conclusion: Malaysia's economy has strengthened since the 1980s. It has suffered through the 1997 Asian financial crisis but has successfully recovered, and is likely to do so again as the global economy slows down in 2009. To strengthen further and achieve its target of becoming a developed nation by 2020, Malaysia now needs to focus on developing its service sector by investing more in R&D and ICT, and on education to produce the skilled human capital needed in these fields. Malaysia also needs to eradicate corruption in society and promote a peaceful and harmonious country. This will attract more foreign companies to invest in Malaysia and increase FDI and competition amongst other countries. With hard work and innovation, Malaysia can achieve its full potential and reap the benefits of globalisation. ...read more.

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