ECONOMIC growth remains the objective of all nations, rich and poor. The imperative to grow, driven by aspirations of prosperity, is greatest with underdeveloped countries, those of the South. The dynamics of growth within a global economy of uneven development and unfair terms of trade, which is biased against raw materials, the main exports of Third World countries, means that expanding national economies is an uphill battle. But, Malaysia has the good fortune of being an oil exporter, the price of which is determined by the world market, and a prudent leadership that has invested the countrys riches into growth sectors. Today, the country is on the verge of joining developed countries, thus proving that poor nations are capable of catching up with old, mature, developed economies.
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