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A Team 239 foreign 179,180,183,185,197, acce1erated expansion 123 201; increased 235,236; accountability 245 industrialization 128, 129, action, affirmative 243 222; public sector 187,199 administrative/managerial bourgeoisie 154,234,239,240 level 165 brain drain 227 AEU (Airline Employees Bretton Woods 17,18 Union) 219 Bricklin contract 132 agrarian reforms 226,241 budget 100, 110, 166 Agricultural Census 1977 145 deficits 175-80 agriculture 105,200,208 Bumiputera Assistance Unit 155 capi talist 13 Bumiputera Malaysia Finance future investment 210 (BMF) scandal 235 ownership 154 Bumiputera population 157, 160, peasant 229 201 restructuring 164 ownership 156 Aid and Trade Provision 217 restructuring 154, 164-5 AIDS scare 62 bureaucracy 142, 166 Alliance 101,143,231,243 bureaucrat-managers 134 planning under 107-10 businessmen 156 Amanah Saham N asional Bumiputera 154 (ASN) 160 Chinese 144 AMCJA 7 political inftuence 201,236,237 Andic's 96 bargaining position of labour 218 Anglo-American culture 230 Antah Biwater 216,217 capacity , consumption/ anti-labour 201,219 purchasing 206 ASEAN 245 capacity , excess 135 Asian Development Bank 213 capital 76 assimilationist national culture Bumiputera 154 formula 230 Chinese 109,144,157,160, austerity campaign 169, 171, 182 234,237 autarky, near-national 227 domestic accumulation 223, authoritarianism 210, 237 224,225 foreign dominance 155,239 BTeam 239 inftows 76, 77,238 balance-of-payments 23,66-77, mediating between management 130,133,181,208,238 andlabour 218 Bank Pertanian 210 outftows 29,190,191,224,227 Barisan Nasional coalition 231, self-aggrandisement 224 232,245 shortage 223 Berjaya regime 133 capitalism 101,161,201,234 borrowing 110, 166, 193 career advancement 206,229,230 domestic 180, 183, 187, 199 cash payments 175

255 256 Index cement plants 131,182 corruption 230,235,240 Central Information Collection CPI 89 Unit (CICU) 182 CPM 6 charges, contract and credit professional 75 agricultural 210 Chia, Eric 131 international 236 Chinese capital 109, 144, 157, Malaysia's high rating 182 160,234,237 private sector 199,200 Chinese population 165 Credit Guarantee CKD automotive packs 136 Corporation 155 class 102, 104, 143, 144,240 culture 230,241,244 coalition, ruling 245 currency, losses 130 Cobbold Commission 8 Cyprus 231 Code of Industrial Harmony 245 cold-rolling mill 133 DARA 155 Colombo Plan 104 Dayabumi 182, 204 Colonial Development and Welfare de-nationalisation 214 Act (1945) 104 debt 133, 18~3 colonial period 1-3 private sector 188, 196, 197, planning 103-7 199 COMIT 75 public sector 7~7, 183-91; commerce, expenditure on 112 servicing 75,191-200 commodity exports 54, 64 Third World 23, 25-37 commodity prices decolonisation 241 boom 59,67 default, avoided 35 collapse 222 defence allocation 112, 166, declining 30,210 172,173,179 favourable 53,221 deficits, budgetary 175-80 low 21,174,175,222,238 demand poverty reduction 152 pattern of effective 119 primary 20,82, 180, 201 weakening 121 recovery 222 democracy 225,226,242 Communist-led insurgency 104 Democratic Action party Companies Act 111 (DAP) 246 competition 128 Dependency school 222 competitiveness 141 deposit-taking cooperative 236 Confucian values 202 deregulation 223,236 Considerations tor aNational devaluation 223 Agricultural Policy 207 development 105,110,223 Constitution 243 capitalist path 101, 102 construction industry 67,81,200, economic 143 203-4 expenditure 77,104,109,111, Consumer Price Index 151 112,171,179,182 consumption Malay business community 143 goods 69 regional authorities 155 manufacturing items for unsustainable 240 local 118 diversification, economic 101, 110 public-sector 51 dividends 175 private 52 Index 257

East-West Highway 182 Manufacturers(FMM) 227 education 105,154,165 FELDA 100,209,210 Egypt 213 FFYP 105 elections 172 FIDA 12,120 May 1969 144 FifthMalaysiaPlan 113-17,145, April1982 169, 182 156 August 1986 173 First Malaysia Plan (lMP) 109 electoral choice 232 fiscal problem 115,130,133 electrical/e1ectronics industry 121, fiscal profile 172 136,139 fixed deposits 191 electricity 99 foreign-equity-ownership 141 elites 240,244 foreign firms 122, 137 emigration of Malaysian Fourth Malaysia Plan 157 labour 219 free enterprise 101 employment 78-85,134,207 free-trade zones 120, 121, 137 distribution 154 freight and insurance 75 electronics industry 139 generation 121 GATI 17 wages and 123--8 Gini ratio 89 Employment Ordinance (1955) 85 gluts, severe existing 135 enthusiasm 239 government environmental management 241 capitalist interests 211 EPF 96, 180, 183 discrimination 144 essential services 87 economic policy 234 estate-workers, welfare 153 expenditure see expenditure Ethiopia 231 insufficiently responsive 143 ethnic divide and rule formula 230 neutral arbiter 218 ethnic relations 144, 165,229-33, officials 144, 156 240-1 tax collection 173 development strategy 243--4 Green Revolution 53,94, 152 ethno-populisms 243 gross domestic product 38-45, exchange rate shift 20 114,208 executive, shift in power to 242 gross national product 46, 52, expectations, rational 212 113,114 expenditure, government 166, gross national savings 46, 115 179,201,206-7 growth 16,38-53,222,238,240 development 77,104,109,111, export-Ied 13,38, 120,222,237 112,171,179,182 5MP 113-17 distribution patterns 98-100 GNP 52,113 trends 169-73 income 91 export-orientation 120-3 industrial 119,120-1,123,140 exports 22,23,51,53-66 manufacturing 113 duties 175 rapid 101,119,213 earnings 69, 114 sustained economic 223 manufactured 59,64,65,116 planning 116 half-measures 234 hardwoods, tropical 51 family size 205 Harrod-Domar growth model 110 Federation of Malaysian health 105 258 Index heavy industrialisation 128-34 expenditure 112 HICOM 129,131,133,214 Mahathir's new policies 203, historic compromise 246 206 Honda 133 inflation 18,19,179,180 Hong Kong 202 infrastructure, economic 105 house-owning democracy 245 in-house unions 89,218 Household Income Survey integrated circuits 121 (1984) 145 inter-capitalist rivalry 19 housing 200,241 interest rate 28,30,130,133,179 dec\ine 190, 193 Ibrahim, Anwar 209 floating 25 IBRD 17 high 20,82, 180, 185, 195 ideology 143, 243 international agencies 35 IMF 17,35,141,180,191,236 intervention, state 101,102,111, stabilisation and adjustment 141,154,190,226,230,234 policy 223 limits 235 immigrants market-augmenting 225,226 illegal 85 investment 76,98,122,128,191 labour 89,218,219 foreign 25,77,129,137,138, import-substitution 67, 119-20, 144,236,237,238,239; 122 corporate 76,115; imports 69,71,103,121,209 inflows 101 incentives 123, 141 government's private sector 112 income incentives for 116, 223 concept of 148-9 private 114, 115,223,238 national 52 productive 69-71, 77 per capita levels 206 public sector 46,51,115,166, income distribution 89-95,119, 223-4 143,206 Investment Incentives Act 120 economic democratisation 226 Iran 231 manufacturing sector 126 Iraq 231 povertyand 151, 164 iron and methanol plants 133 tax effects 98 irrigation infrastructure 209 Independence 143 ISA (Internal Security Act) 219 after 12 Ishak, Aziz 109 India 213,231 Islam 203,232 Indian share capital 157 ITC 64 Indonesia 87,213,219,231 inducement, use of 102 Jalan Kuching toll fly-over 214 Industrial Coordination Act 141, Japan 6,201-5 passim, 225 160 joint ventures 131,133,138,214 Industrial Incentives Act 12 Industrial Master Plan KADA 155 (IMP) 134-42 Kampuchea 112 Industrial Relations Act (1967) 87 Kedah State Development industrialisation 118-42,201,226, Corporation 131 235 Kelantan 133 borrowing to finance 222 Kenya 213 colonialism 12 Kesatuan Melayu Muda 6 Index 259

KETENGAH 155 Finanee (MIDF) 155 Keynesianism 238 Malaysian International Shipping Komtar complex 182 Corporation 214 Korean War boom 104 management practices 211 Kuantan Port 182 manufaeturing 51,110,135,200 Chinese dominance 129 labourforce 78-85 employment and wages 123-8 promotion of discipline 203 industrialisation and 121-2, 136 recent policies 218-20 ownership 94 shortages 140 share of GNP 119 labour law 88, 120,219 MARA 155 labour militancy 85, 87, 89, 218 MARDEC 210 labourpoliey 85-9,128,218-20 market Labuan Island gas projeet 133 domestie 119,206,226,235 Lady Templer Hospital 214 international 122, 135,223 laissez-faire 234 need for new aeeess 238 land development seheme 210 property 82,131,200 landlords, absentee 210 MAS (Malaysian Airline Langkawi Island 131 System) 214,219 legislation, reform 142 MCA 143,161 liabilities, repudiation of 223 MCS 156 liberties, eivil 243 merehandise aeeount 66,67,71, LIBOR 28 238 lieensed manufaeturing warehouse balance 71-3 (LMWs) 137 defieit 67 linkages 129, 137 Merdeka University issue 165 liquefied natural gas 51 MIC 143 living standards 52, 149,222,241 middle dass 143, 165,240,247 loans see debt minerals and fuels 21,114 logging 222 mini-estates 210 Look East Poliey 89,202-5,212 mining 153, 200 loyalty 243 Mitsubishi Corporation 131,132, 214 MADA 155 MNP 7 Mahathir Mohamad 128, 129, money polities 156,230, 236 233,237,244 monopolies 110,211 malaria 105 natural 213 Malay Dilemma 201, 233 Morgan Guaranty Trust Malay population 144,155,157 Company 190 development strategy and motor-eyde engine joint eulture 243-4 projeet 133 politieal dominanee 237 MPAJA 6 split of elite 239 multilateral ageneies 30 Malayan Railways 105 Malayan Union proposal 243 National Agrieultural Poliey 'Malaysia Incorporated' 204, 211 (NAP) 134,207-11 Malaysian Industrial Development National Culture Poliey 229 Authority 88 National Edueation Poliey 230 Malaysian Industrial Development National Front 143,144 260 Index national income 52 People's Constitution 7 nationalism 201,241,243 per capita income levels 206 militancy 85,87 PERNAS 155 ne ar-national autarky 227 Perwaja steel mill 182 New Economic Policy (NEP) 95, Perwaja Trengganu Sdn. Bhd. 130 111-12,143-65,221,228 petroleum 13,64,174 deficit 179 indirect taxes 97 national unity 245 net earnings 61 Outline Perspective Plan 150 prices 175,221-2 New Straits Times Press production off the East Berhad 214 Coast 171 newly-industrialising countries Petronas Corporation 133,175, (NICs) 89,128,129,202,203 180 Malaysia as 199, 201 Philippines 213,219,231 Nichirin Holdings Sdn. Bhd. 131 philosophy 102,205 Nigeria 231 pioneer status 119 Nippon Steel Corporation 130 PMFTU 7 non-market income 91 politics non-financial public contradictions 233-7 enterprises 76,166,199,201, ethnic issues 229,231-3 222,235 recent developments 244 borrowing 197 pollination techniques 208 expenditure 171, 182 population policy 205-7 growth 180 Port Kelang 214 North Port Kelang toll road Post-Enumeration Survey of the bypass 214 Population Census (1970) 145 Northern Ireland 231 post-war boom 202 post-war reconstruction 19 OECD 13,238 pound 103 off-budget agencies (OBAs) 166, poverty 110,161,164,209 201,235 reduction 145-54 Official Secrets Act (OSA) 217 poverty line income (PLI) 151 officials, government 144,156 prices oil-exporters 16 commodity 53,114,151,152, oil-price hikes 221-2 238 Opposition 232, 246 elastic 62 output 139,140,221 freeze 220 overcapacity 131 fuel 23,113,175,221-2 ownership 156-7,160,224,228 rising 220 private 101 private financial institutions 210 reduction in foreign 161 private lending 30 state 225 private sector 101,229,234 debt 188,196,197,199 palm-oil 51, 110,208 inadequate initiative 140 export duties 174 relations with government 211 output 64, 221 savings 115 processing 120 privatisation 134,204,211-18, PBS state government 133 223,236 Penang Bridge 182 production 161,164,210,224 Index 261

productivity 153,203,209,226 rights professionals 154,164, 165 democratic 245 projections for 1987-97 195 human 243,245 Promotion of Investments Act women's 206 (1986) 141 worker's 241 pro-natalist policy 85 ringgit property market 82,131,200 depreciation 180,199 protectionism 116, 128, 142, 180, strengthened 134 222 riots Proton 131,182,203,214 May 1969 87,234 public agencies 209 race 143,234,247 public sector 111,219 RISDA 209 debt 75,76-7,183-200 Royal House 156 expenditure 82,114,155, royalty payments 138, 175 169--73,222,223 rubber 51,53,62,64,152,221 investment 46,51, 115, 166, export duties 96,174 223-4 replanting scheme 105 privatisation and 212, 213 smallholdings 95,150 public services 213,229 switch to oil-palm 209 pulp and paper mills 133 tappers 226 PUTERA 7 Rukunegara 245 rule of law 243 race riots 143,234,247 racialism 143-4 Sabah 67,133 Raja Mohar Committee 119 Sarawak 67 rational expectations 212 Second Five Year Plan Razak era 245 (SFYP) 109 Reagan, R. 211,212 SEDC 155 Reagonomics 204 self-employed producers 154 real wages 219 semiconductors 121,136,139 realignments, political 144 SERU per capita monthly PLI 151 receptivity 222 service account 66, 71 recessions 15,51,69,82,200,219 sewerage disposal 99 effects 133,216 Singapore 13,202,224,225 global economic 130 Sistem Televisyen Malaysia nature 238 Berhad 214 regulations, relaxation of 141 social services 241 religious tension 247 socialism 225 remittance for education SOCSO 88 abroad 76 South Korea 201,202,204,213, repression 237 225 research and development sponge-iron and steel-billet activities 139 plant 130 resource-based products 135 squatters 247 resources,natural 241-2 Sri Lanka 231 restructuring 112, 154--65 States of Emergency 85, 87 revenue 173-5 sterling 104 rice 150,152,209,221 stock-market collapse 82 RIDA 143 subsidies 119,150 262 Index

substitution, problematic 131 Trengganu state development Suzuki 133 corporation 130 Sweden 225 tripartism 245 Syarikat Telekom Malaysia Tun Abdul Razak 144 Berhad 214 Tunku Abdul Rahman 143

Taiwan 202, 225 UDA 155 Tan Koon Swan 235-6 Ultras 143 Tanaka, Premier 202 UMNO 109,143,169,214,237, tariffs 141,225 245 tax business scandals 235 export earnings 141 deficit budgeting 233 redistribution 95-100 outflanking PAS 246 reforms 225 palace coup 143,234 revenue 173-5 unemployment 78,81,85,128, technology 227, 238 219 dependency 138 see also employment IMP and 140, 141 unions see trade unions transfer 130, 138-9,227 United Motor Works (UMW) 220 Tee Ann Chuan 236 USA 17,238 Temasek Holdings Ltd 131 Tengku Razaleigh Hamzah 172 variable interest rate tension 165,247 borrowings 32 term of trade 23, 66, 114 Vellu, Samy 236 tertiaryeducation 165 Vietnam 112 textiles and garments 136 Volcker, Paul 30,130,221,222 Thailand, South 219 Thatcher, Margaret 211,212 wages 89, 139 Thatcherism 204 employment and 123-8 Third Malaysia Plan 157 labour policies 219-20 Third World 17,20,205,213,222 value added 125,139-40 debt 23,25-37 water supply 99,216 tin 51,53,63,64,221 wealth 201, 229 export duty 97,174 welfare 213 trade Western fascination 202 international 20--5 work ethics, government's terms of 23,66, 114 emphasis 218 see also exports; imports World Bank 118,191,207,209, Trade Disputes Ordinance 213,236 (1949) 85 World Population Conference 206 Trade Union Ordinance 87 world trade 21,22,34,59 trade unions 85,87,89,218,220, 245 Yamaha 133 transfer-pricing 136, 138 yen 133 transfer payments 98 YoungTurks 143 transnational corporations 12, 138 transport equipment 71 Zainuddin, Daim 212, 235 travel deficit 76 ZOPFAN 245 Treasury bills 183