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KUALA LUMPUR: The Sultan of Perak , Sultan Nazrin Shah ’s book Globalisation : Perak 's Rise, Relative Decline, and Regeneration offers some suggestions on what Perak can do to continue to regenerate its economy and improve the welfare of its residents.
"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. By the end of the 19th century, Perak’s production had already overtaken Cornwall’s,” Sultan Nazrin said in his Royal Address at the book launch on Saturday .
"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 and competing sources of supply. He added that the 1985 tin crash, which saw prices halve in just a few years, devasted Perak’s communities. Massive job losses and the closure of mines accelerated the outflow of residents.
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