KUALA LUMPUR, July 6 — The Sultan of Perak, Sultan Nazrin Shah’s book Globalisation: Perak’s Rise, Relative Decline, and Regeneration launched today offers some suggestions...
KUALA LUMPUR, July 6 — The Sultan of Perak , Sultan Nazrin Shah ’s booklaunched today offers some suggestions on what Perak can do to continue to regenerate its economy and improve the welfare of its residents.
“All are places that initially prospered, but then lost their competitiveness and were subsequently blighted by the same forces of globalisation that had previously blessed them. While Sheffield, Pittsburgh, and Cornwall, have all found new ways to thrive, Scranton has yet to recover.“Perak’s early growth was driven by tin, with inflows of capital, technology, and new ideas from Cornwall in the first decades of the colonial period.
“After independence, Perak fared less favourably, however. Still heavily reliant on exports of tin and rubber, it remained exposed to dramatic swings in global demand, as well as competing sources of supply. His Royal Highness said the state’s skilled youth began to migrate to neighbouring states where more opportunities and higher incomes could be found.
“Since then, Perak has diversified its economy further into manufacturing and services and modernised its agricultural sector in order to rebuild its economic base. Considerable effort has been devoted to this process, and there are many success stories in all sectors,” he said. Sultan Nazrin said he hopes that with a New Vision, Perak can look forward to a period of renewed prosperity.“Some of you may be asking why I have written a book on globalisation and why now? The idea was sparked in part during research for my previous books, as the unique nature of Perak’s experience became apparent.
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