This book attempts to understand economic developments in Malaysia in the early and mid-Eighties, focusing on growth, balance of payments, fiscal and debt trends. They are all seen against global trends, earlier developments in the Malaysian economy and other changes in Malaysian society.

Part 1 Malaysia's economic heritage: colonial transformation; political background; post-colonial change. Part 2 The new world economy: the post-war world; international trade; Third World debt. Part 3 Growth and the open economy: growth; exports; balance of payments. Part 4 Employment and income distribution: employment; labour laws and policies; income distribution; wealth distribution. Part 5 Economic planning?: the colonial experience; the alliance phase; the NEP phase; the fifth Malaysia plan. Part 6 Industrialization: from ISI to EOI; employment and wages; heavy industrialization; the industrial master plan. Part 7 The new economic policy: poverty reduction; restructuring ownership. Part 8 Fiscal and debt problems: expenditure trends; revenue trends; budgetary deficits; the fiscal-debt nexus; public debt; debt servicing. Part 9 Mahathir's new policies: look East policy; 70 million population target; national agricultural policy; "Malaysia incorporated"; privatization; recent labour policies. Part 10 Predicaments and prospects: Malaysian experience; ethnic issues; political contradictions; prospects; transition?.