Malaysia's Economy...

Economy - overview:
Malaysia, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move farther up the value-added production chain by attracting investments in Islamic finance, high technology industries, medical technology, and pharmaceuticals. The NAJIB administration also is continuing efforts to boost domestic demand and to wean the economy off of its dependence on exports. Nevertheless, exports - particularly of electronics - remain a significant driver of the economy. As an oil and gas exporter, Malaysia has profited from higher world energy prices, although the rising cost of domestic gasoline and diesel fuel, combined with strained government finances, has forced Kuala Lumpur to reduce government subsidies. The government is also trying to lessen its dependence on state oil producer Petronas, which supplies at least 40% of government revenue. The central bank maintains healthy foreign exchange reserves and its well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments and the global financial crisis. Nevertheless, decreasing worldwide demand for consumer goods hurt Malaysia's exports and economic growth in 2009, although both showed signs of recovery in 2010. In order to attract increased investment, NAJIB has also sought to revise the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but he has encountered significant opposition, especially from Malay nationalists.
GDP (purchasing power parity):
$416.4 billion (2010 est.)
country comparison to the world: 30

$388.8 billion (2009 est.)

$395.5 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$219 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.1% (2010 est.)
country comparison to the world: 18

-1.7% (2009 est.)

4.7% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$14,700 (2010 est.)
country comparison to the world: 78

$14,000 (2009 est.)

$14,500 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 9.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 41.6%
[see also: GDP - composition by sector - industry country ranks ]
services: 49.3% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
11.62 million (2009 est.)
country comparison to the world: 45
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 13%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 36%
[see also: Labor force - by occupation - industry country ranks ]
services: 51% (2005 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3.5% (2010 est.)
country comparison to the world: 28

3.7% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
5.1% (2002 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.5% (2005 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
46.1 (2002)
country comparison to the world: 36

49.2 (1997)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
20.1% of GDP (2009 est.)
country comparison to the world: 85
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $49.69 billion
[see also: Budget - revenues country ranks ]
expenditures: $62.91 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
52.6% of GDP (2010 est.)
country comparison to the world: 48

53.3% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1.8% (2010 est.)
country comparison to the world: 50

0.6% (2009 est.)
note: approximately 30% of goods are price-controlled
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1% (31 December 2009)

NA% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.08% (31 December 2009 est.)
country comparison to the world: 136

6.08% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$69.03 billion (31 December 2010 est)

$57 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$337.6 billion (31 December 2010 est.)

$280.7 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$314.7 billion (31 December 2010 est.)
country comparison to the world: 33

$265.2 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$256 billion (31 December 2009)
country comparison to the world: 26

$187.1 billion (31 December 2008)

$325.7 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
Peninsular Malaysia - rubber, palm oil, cocoa, rice; Sabah - subsistence crops, coconuts, rice; rubber, timber; Sarawak - rubber, timber; pepper

Industries:
Peninsular Malaysia - rubber and oil palm processing and manufacturing, light manufacturing, pharmaceuticals, medical technology, electronics, tin mining and smelting, logging, timber processing; Sabah - logging, petroleum production; Sarawak - agriculture processing, petroleum production and refining, logging

Industrial production growth rate:
8.5% (2009 est.)
country comparison to the world: 22
[see also: Industrial production growth rate country ranks ]

Electricity - production:
103.2 billion kWh (2007 est.)
country comparison to the world: 32
[see also: Electricity - production country ranks ]

Electricity - consumption:
99.25 billion kWh (2007 est.)
country comparison to the world: 30
[see also: Electricity - consumption country ranks ]

Electricity - exports:
2.268 billion kWh (2007 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
693,700 bbl/day (2009 est.)
country comparison to the world: 27
[see also: Oil - production country ranks ]

Oil - consumption:
536,000 bbl/day (2009 est.)
country comparison to the world: 31
[see also: Oil - consumption country ranks ]

Oil - exports:
511,900 bbl/day (2007 est.)
country comparison to the world: 30
[see also: Oil - exports country ranks ]

Oil - imports:
314,600 bbl/day (2007 est.)
country comparison to the world: 35
[see also: Oil - imports country ranks ]

Oil - proved reserves:
2.9 billion bbl (1 January 2010 est.)
country comparison to the world: 32
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
57.3 billion cu m (2008 est.)
country comparison to the world: 17
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
26.27 billion cu m (2008 est.)
country comparison to the world: 30
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
31.03 billion cu m (2008 est.)
country comparison to the world: 8
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 98 [see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
2.35 trillion cu m (1 January 2010 est.)
country comparison to the world: 16
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$34.83 billion (2010 est.)
country comparison to the world: 13

$34.08 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$192.8 billion (2010 est.)
country comparison to the world: 25

$157.5 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals

Exports - partners:
Singapore 13.9%, China 12.2%, US 10.9%, Japan 9.8%, Thailand 5.4%, Hong Kong 5.2% (2009)

Imports:
$149.2 billion (2010 est.)
country comparison to the world: 29

$117.3 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals

Imports - partners:
China 13.9%, Japan 12.5%, US 11.2%, Singapore 11.1%, Thailand 6%, Indonesia 5.3% (2009)

Reserves of foreign exchange and gold:
$104.1 billion (31 December 2010 est.)
country comparison to the world: 14

$96.71 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$62.82 billion (31 December 2010 est.)
country comparison to the world: 47

$58.79 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$77.44 billion (31 December 2010 est.)
country comparison to the world: 43

$74.64 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$82.65 billion (31 December 2010 est.)
country comparison to the world: 27

$75.62 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
ringgits (MYR) per US dollar - 3.2182 (2010), 3.5246 (2009), 3.33 (2008), 3.46 (2007), 3.6683 (2006)

~ From the report aboved, are we satisfied enough with Malaysia's economy?
~ Why Malaysia is not in the list of 10 of development country although Malaysia is more richer than Indonesia? Is it something wrong with Malaysia's economy?

Good Government or People Needs

Report: Government Intensifies Efforts To Eradicate Hardcore Poverty

KUALA LUMPUR, Oct 15 (Bernama) -- To increase income and raise the living standard of the rakyat, the government continues to provide resources for eradicating hardcore and urban poverty, assisting the poor and vulnerable groups, increasing home ownership, expanding public health facilities and enhancing the social safety net.

According to the 2010/2011 Economic Report released today, to further alleviate hardcore poverty in rural areas, the government continued with a scheme which involved integrated land development for agriculture, and in addition, the e-Kasih database was continuously updated to identify and assist the poor.

The Gerakan 1AZAM programme which consists of four components, namely AZAM Tani, AZAM Niaga, AZAM Kerja and AZAM Khidmat, are among the initiatives aimed at creating jobs through employment and entrepreneurship, in line with government efforts to tackle hardcore poverty.

In line with the target to reduce the poverty rate to 2.8 per cent by end-2010, intensified efforts have been made to enhance the earning capacity of the rural poor.

According to the report, the government has established a scheme to implement income-enhancing, skills training and capacity building programmes, as well as Program Kecemerlangan Pendidikan in benefiting the target groups.

Efforts were undertaken to provide affordable housing and restore dilapidated houses to benefit 1,368 households.

As of July this year, 3,255 women underwent skills training and entrepreneurship programme through the Department of Women's Development and Amanah Ikhtiar Malaysia (AIM).

The federal territories and urban wellbeing ministry has launched a Strategic Plan for the period of 2010-2014, to address urban poverty in a holistic manner, including to assist households with monthly income of below RM3,000.

To support the urban poor venture into becoming small businesses, RM60.5 million was disbursed to 16,907 applicants under the Urban Micro Credit programme by AIM, during the first eight months of this year.

The report said that continous efforts were undertaken to provide affordable housing to the rakyat, particularly those in the low and middle-income groups. The government launched the Flexible Housing Withdrawal scheme that enables Employees Provident Fund contributors to utilise current and future savings in Account 2 to obtain higher financing.

The government also guaranteed bank loans for those without fixed income to encourage home ownership, as well as offering for sale to current tenants, by the Dewan Bandaraya Kuala Lumpur and National Housing Department.

In addition to increasing revenue, the government also focused on health aspects, in which the focus was on building and upgrading hospitals and clinics. A total of 51 premises have also been modified to 1Malaysia clinics in selected urban areas in Selangor, Kuala Lumpur, Penang and Johor.

The government also remains committed to providing welfare assistance for the disabled, senior citizens and single mothers. Furthermore, the monthly allowance for disabled children was increased from RM50 to RM150 for each child enrolled in special schools run by non-governmental organisations.

To provide investment opportunities and improve the income of the rakyat, the Government issued a Sukuk 1Malaysia which guarantees a return of 5.00 per cent per annum to be paid quarterly and provides flexibility for subscribers to buy and sell before the maturity period.

To assist the self-employed and those with no fixed income, the government has introduced the 1Malaysia Retirement Scheme with a minimum contribution of RM50 to a maximum of RM5,000 per month.

Wakaf properties nationwide will be developed to benefit under-privileged Muslims through income generating as well as education and social welfare programmes.

To develop wakaf properties, a total of 69 areas with potential were identified for development as a Wakaf Mart and Bazar Wakaf Rakyat at selected mosques nationwide.

-- BERNAMA

>> how long Malaysian citizen must depend on financial assistance provided by the government?
>> why Malaysian citizen are too pampered with amenities?

The world hunger problem : Facts, figures and statistic

• In the Asian, Africa and Latin America countries, well over 500 million people are living in that what the World Bank has called "absolute poverty".
•  Every year 15 million children die of hunger.
• For the price of one missile, a school full of hungry children could eat lunch every day for 5 years.
• Throughtout the 1990's more than 100 million children will die from illness and starvation. Those 100 millions deaths could be prevented for the price of ten Stealth bombers, or what the world spends on its militaryin two days.
• The World Health Organization estimates that one-third of the world is well-fed, one-third is under-fed and one-third is starving. Since you've entered this site at least 200 people have died of starvation. Over 4 million will die this year.
• One in twelve people worldwide is malnourished, including 160 million children under the age of 5. United Nations Food and Agriculture

• The Indian subcontinent has nearly half the world's hungry people. Africa and the rest of Asia together have approximately 40%, and the remaining hungry people are found in Latin America and other parts of the world. Hunger in Global Economy
• Nearly one in four people, 1.3 billion - a majority of humanity - live on less than $1 per day, while the world's 358 billionaires have assets exceeding the combined annual incomes of countries with 45 percent of the world's people. UNICEF
• 3 billion people in the world today struggle to survive on US$2/day.
• In 1994 the Urban Institute in Washington DC estimated that one out of 6 elderly people in the U.S. has an inadequate diet.
• In the U.S. hunger and race are related. In 1991 46% of African-American children were chronically hungry, and 40% of Latino children were chronically hungry compared to 16% of white children.
• The infant mortality rate is closely linked to inadequate nutrition among pregnant women. The U.S. ranks 23rd among industrial nations in infant mortality. African-American infants die at nearly twice the rate of white infants.
• One out of every eight children under the age of twelve in the U.S. goes to bed hungry every night.
• Half of all children under five years of age in South Asia and one third of those in sub-Saharan Africa are malnourished.
• In 1997 alone, the lives of at least 300,000 young children were saved by vitamin A supplementation programmes in developing countries.
• Malnutrition is implicated in more than half of all child deaths worldwide - a proportion unmatched by any infectious disease since the Black Death
• About 183 million children weigh less than they should for their age
• To satisfy the world's sanitation and food requirements would cost only US$13 billion- what the people of the United States and the European Union spend on perfume each year.
• The assets of the world's three richest men are more than the combined GNP of all the least developed countries on the planet.
• Every 3.6 seconds someone dies of hunger
• It is estimated that some 800 million people in the world suffer from hunger and malnutrition, about 100 times as many as those who actually die from it each year.
  
  

top 10 poorest countries in the world 2011

Here is the list of top 10 poorest countries in the world according to data gathered by International Monetary Fund and the CIA World Factbook. As you might have guessed 9 out of 10 poorest countries in the world are situated in Africa. The wealth of a country is measured by GDP per capita.

**meaning of GDP per capita : An estimate of how much an individual spends as a consumer compared to the total population spending on products and services.

1. Democratic of Republic of Congo (US$ 328)
2. Zimbabwe ( US$ 395)
3. Liberia (US$ 392)
4. Burundi (US$ 410)
5. Somalia (US$ 600)
6. Eritrea (US$ 681)
7. Central African Republic (US$ 744)
8. Niger (US$ 755)
9. Sierra Lione (US$ 759)
10. Afghanistan (US$ 906)

From the list given we can say that poverty always happen during globalization. What can we do to increase the GDP of the poorest countries?  

poverty around the world...

Around the world, in rich or poor nations, poverty has always been present. In most nations today, inequality, the gap between the rich and the poor is quite high and often widening. The causes are numerous, including a lack of invidual responsibility, bad goverment policy, exploitation by people and businesses with power and influence, or soem combinations of these and other factors. Many feel that high levels of inequality will affect social cohesion and lead to problem such as increasing crime and violence.

Inequality is often a measure of relative poverty. Absolute poverty, however is also a concern. World Bank figures for world poverty reveals a higher number of people live in poverty than previously thought. For example, the new poverty line is defined as living on the equivalent of $1.25 a day. With that measure based on data available (2005), 1.4 billion people live on or below that line.

Furthermore, almost half the world (over 3 billion people) live on less than $2.50 a day and at least 80% of humanity lives on less than $10 a day.

So, as a human being what should we do to reduce the poverty around the world? What is/are the best way to reduce this?

THE MEANINGS !!!

When we talk about globalization and poverty, firstly we should know what is actually the globalization and poverty means to us. Let's check the definitions of :

~GLOBALIZATION~

>> The system of interaction among the countries of the world in order to develop the global economy.

>> Its refers to the integration of economics and societies all over the world.

>> Its involves technological, economy, politicial, and cultural exchanges made possible largely by advances in communication, transportation, and infrastructure.



~POVERTY~

>> Some people describe poverty as a lack essential items - such as food, clothing, water, and shelter - need for proper living.

>> At the UN's World Summit on Social Development, the 'Copenhagen Declaration' described poverty as"...a condition characterised by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information". When people are unable to eat, to go to school, or have any access to health care, then they can be considered to be in poverty, regardless of their income.

Book for Globalization

finally I had found an interesting book for my globalization subject. the title of the book is " The Impact Of Globalization On The World's Poor : Transmission Mechanisms". the book were edited by Machiko Nissanke and Erik Thorbecke. It was first published on 2007 by PALGRAVE MACMILLAN. The 380 pages book actually a research projects of UNU-WIDER. It was launched as a project name 'The Impact Of Globalization On The World's Poor' in 2004. the project aims to produce a set of rigorous theoritical and empirical economic analyses, which could allow us to deepen our understanding of how conditions facing the world's poor have been evolving under globalization and  provide a framework yielding the elements of a strategy for 'pro-poor globalization'.