Catching the Wind: Penang in a Rising Asia

ISBN-13: 9789814379878 / Angielski / Miękka / 2013 / 236 str.

Francis E. Hutchinson; Johan Saravanamuttu

Opis

However impressive the economic success of Penang has been over the past four decades structural conditions in the region call for a fundamental reconfiguration of this Malaysian statea's competitive advantage. In the 1970s the ageing entrepAi??t transformed itself into a manufacturing hub for the electronics industry and a well-known tourist site. This outward-looking model of economic growth has underpinned Penanga's economic development up until the present. The question that now arises is whether Penanga's present mode of development will continue to be effective or whether it will have to transform itself. First Malaysia in general and Penang in particular are caught in a middle-income trap. Second while the evolving weight of the global economy is shifting towards Asia many of its emerging powers are competing with Penang in areas where it formerly excelled. Third Penang is a state within a federation and its capital George Town is a secondary city. Neither can rival Kuala Lumpur in terms of size or facilities and thus must offer investors other attributes. Effectively meeting these challenges while retaining Penanga's vibrant and living culture are the key issues that are dealt with in this second volume of the Penang Studies Series.