Lessons from the East

Malaysia’s economy shrank last year due to the impact of the Covid-19 pandemic but is expected to rebound this year. — RAJA FAISAL HISHAN/The Star

PETALING JAYA: There are many examples of economies that have managed to break through the middle-income trap and experts suggest that Malaysia harness on improving innovation and technology to achieve that.

Alliance Bank Malaysia Bhd chief economist Manokaran Mottain pointed out that Malaysia can learn from Asian economies which have transitioned to high-income status, such as South Korea and Taiwan.

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