Among the four main criteria above. Malaysia rank high in Economic Performance. Minister of international Trade and Industry, Dato' Sri Mustapa Mohamed issued a media statement, which specifically stated :
8. It should be highlighted that the ranking for Economic Performance, which gives a
macro economic evaluation of the domestic economy and is based on real/hard data,
improved to 7th position this year ahead of Taiwan, Sweden, Canada, Australia, UK and
Switzerland. Malaysia has come a long way since 2007 where we were ranked 12
Let see the trend as usual:
IMD 2011
Economic Performance:
2011 2010 2009
United States 1 1 1
Qatar 2 2 5
China 3 3 2
Hong Kong 4 4 3
Singapore 5 5 8
Germany 6 9 6
Malaysia 7 8 9
Luxembourg 9 11 4
Thailand 10 6 14
Australia 13 7 15
Netherlands 19 14 7
Economic Performance is only criteria that Malaysia has 3 consecutive uptrend. From 9th in 2009 move up to 8th in 2010 and again to 7th position in 2011.
Malaysia has overtake Luxembourg, Thailand, Australia and Netherlands, which ranked higher than Malaysia one or two years ago.
However, Germany, which ranked lower than Malaysia previous year, has overtake Malaysia in 2011, thanks to Germany buoyant exports and a more flexible labor market. Coincidentally, Germany also ranked 10th in IMD world competitiveness ranking. A spot Malaysia occupy in 2010.
We have benchmark German against Japan in Asia in 2005. Germany banking industry relation with business is like Keiretsu of Japan. It is this form of banking relation that cause Japan into prolong recession, of which, Malaysian ex-Finance Minister Tun Daim has prevent such banking industry relationship that prevent Malaysia into a Japan like recession during 1997-98 Asian Financial crisis
The relation of Deutsche bank with Siemen and daimlerchrysler is like of Mitsubishi in Japan.
However, Germany has a large SME base which is similar to Taiwan and Malaysia. German SME, which is family base like Malaysia, however, able to continuesly advance in technology. SME in Malaysia usually unable to advance in technology or technology will loss after pass to next generation. This is largely due to popularity of Germany vocational training. Malaysia in correct direction by promoting vocational training among non-bumiputra entrepreneur recently. Vocational training common among bumiputra but not common among non-bumiputra despite there is no quota of entry like other institute of higher learning. Malaysia should make full used of German Malaysia Institute
As Malaysia able to overtake Germany last year. There is a possibility that Malaysia will overtake Germany again.
It seem a bit difficult to challenge US(1) and China(3) as this is the two economic giant in the world. Hong Kong(4) benefited from China with it close proximity. This leave only Singapore. Malaysia able to leverage on Singapore economy with it close proximity among the two.
The Southern Development Corridor and Iskandar Malaysia is a way of Malaysia try to leverage on Singpore economy. However, Malaysia should solved it biometric system mess at second crossing fast.
It is undeniable that Malaysia moving to the right direction by implementing Greater Kuala Lumpur under Economic Transformation Programme (ETP), which will expand the economic effect of Singapore from Iskandar Malaysia further to Kuala Lumpur. However, this is a long term project hat will take time to see it effect. Malaysia only able to leverage on Singapore via Southern Development Corridor and Iskandar Malaysia in short term. Thus, Malaysia should solved the mess cause by biometric system fast.
Part 1 : My Comment on IMD 2011 World Competitiveness Ranking - Part 1
Next Post : Part 3: Infrastructure
Switzerland. Malaysia has come a long way since 2007 where we were ranked 12
Let see the trend as usual:
IMD 2011
Economic Performance:
2011 2010 2009
United States 1 1 1
Qatar 2 2 5
China 3 3 2
Hong Kong 4 4 3
Singapore 5 5 8
Germany 6 9 6
Malaysia 7 8 9
Luxembourg 9 11 4
Thailand 10 6 14
Australia 13 7 15
Netherlands 19 14 7
Economic Performance is only criteria that Malaysia has 3 consecutive uptrend. From 9th in 2009 move up to 8th in 2010 and again to 7th position in 2011.
Malaysia has overtake Luxembourg, Thailand, Australia and Netherlands, which ranked higher than Malaysia one or two years ago.
However, Germany, which ranked lower than Malaysia previous year, has overtake Malaysia in 2011, thanks to Germany buoyant exports and a more flexible labor market. Coincidentally, Germany also ranked 10th in IMD world competitiveness ranking. A spot Malaysia occupy in 2010.
We have benchmark German against Japan in Asia in 2005. Germany banking industry relation with business is like Keiretsu of Japan. It is this form of banking relation that cause Japan into prolong recession, of which, Malaysian ex-Finance Minister Tun Daim has prevent such banking industry relationship that prevent Malaysia into a Japan like recession during 1997-98 Asian Financial crisis
The relation of Deutsche bank with Siemen and daimlerchrysler is like of Mitsubishi in Japan.
However, Germany has a large SME base which is similar to Taiwan and Malaysia. German SME, which is family base like Malaysia, however, able to continuesly advance in technology. SME in Malaysia usually unable to advance in technology or technology will loss after pass to next generation. This is largely due to popularity of Germany vocational training. Malaysia in correct direction by promoting vocational training among non-bumiputra entrepreneur recently. Vocational training common among bumiputra but not common among non-bumiputra despite there is no quota of entry like other institute of higher learning. Malaysia should make full used of German Malaysia Institute
As Malaysia able to overtake Germany last year. There is a possibility that Malaysia will overtake Germany again.
It seem a bit difficult to challenge US(1) and China(3) as this is the two economic giant in the world. Hong Kong(4) benefited from China with it close proximity. This leave only Singapore. Malaysia able to leverage on Singapore economy with it close proximity among the two.
The Southern Development Corridor and Iskandar Malaysia is a way of Malaysia try to leverage on Singpore economy. However, Malaysia should solved it biometric system mess at second crossing fast.
It is undeniable that Malaysia moving to the right direction by implementing Greater Kuala Lumpur under Economic Transformation Programme (ETP), which will expand the economic effect of Singapore from Iskandar Malaysia further to Kuala Lumpur. However, this is a long term project hat will take time to see it effect. Malaysia only able to leverage on Singapore via Southern Development Corridor and Iskandar Malaysia in short term. Thus, Malaysia should solved the mess cause by biometric system fast.
Part 1 : My Comment on IMD 2011 World Competitiveness Ranking - Part 1
Next Post : Part 3: Infrastructure
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