Re: Malaysia's GDP per capita (2004): A global comparison
- From: alex® <alexcsm@xxxxxxxxxxxx>
- Date: Mon, 01 Aug 2005 21:13:49 +0800
In response to the discussion about GDP per capita in a post entitled 'Oil price...?', here are some statistics:
Out of 232 countries/territories, Malaysia ranks No. 82 in terms of GDP per capita (at PPP).
Malaysians have lower income per capita than:
- Chile - South Africa - Lithuania - Mauritius - Puerto Rico - Brunei - South Korea
Botswana, an African country with one of the highest AIDS infection rates in the world, has a GDP per capita of US$ 9200, which is not very disimilar to Malaysia's, which is US$ 9600.
South Korea had a GDP per capita of US$ 2440 in 1980, and Malaysia had a GDP in 1980 that was similar, US$ 2170. By 2002, S. Korea's GDP per capita had risen to US$ 16950 whereas Malaysia's notched at US$9120. The latter's GDP per capita for 2002 was 53% of the former's.
I'm just thinking here that the reasons S. Korea, and I guess Singapore as well, has been able to beat Malaysia so spectacularly is because they did not have multi-ethnic society. The economic leaders back in the 80s were Chinese, and their growth were retarded and held back so that the Malays could catch up. Because of this, we have not been able to keep up with these countries.
Consider also S. Africa. Why was it more successful than Malaysia considering that it also had an economic situation where a minority in the country controlled the economic pie. They did nothing to address this balance [until the last decade] and as such there was no holding back the economy. Those who were better at business were allowed to flourish and no one tried to balance the difference in equity between the whites and the blacks. As a result, racial tensions remained high until it boiled over and now the majority are in power. Let's see how they fare now.
Anyway that's just my theory... might be a load of bollocks for all I know but feel free to share your views and opinions.
Sources: CIA Factbook. Available from: http://www.cia.gov/cia/publications/factbook/
UN Globalis Database. Available from: http://globalis.gvu.unu.edu/ [A highly comprehensive interactive resource]
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