chapter  3
20 Pages

The politics and policies of corporate development: race, rents and redistribution in Malaysia

ByEDMUND TERENCE GOMEZ

In 2009, when the Malaysian government announced that the economy was caught in a ‘high middle-income country trap’, it was an overt acknowledgement that domestic firms were unable to evolve beyond the point where they had the competence to develop and market new technology. This announcement was of major concern, because one key requisite to achieve the status of a modern high-income economy is a productive domestic business sector with the capacity to upgrade or change technological and market conditions so that higher-quality products and services become available.