Raja Nazrin: Government’s policy measures helped the country weather the Asian financial crisis and put it on the road to recovery

The Raja Muda of Perak Raja Dr Nazrin Shah said Malaysia is a more suitable model for developing countries than the East Asian tiger economies. This, he said, this was because Malaysia shared features with many countries in Asia, Africa and, to a lesser extent, Latin America that makes it an ideal case study.

Among the reasons he attributed was that the country is a better model besides being among the few countries that have managed to transform its rich natural resource base into sustainable development. Adding to this, Raja Nazrin said Malaysia, like many countries in the developing world, has a multi-ethnic, multi-religious population.

"Despite initial scepticism, criticism and opposition at home and abroad, it is now generally acknowledged that the Government's policy measures, including capital controls, helped the country weather the Asian financial crisis and put it on the road to recovery," Raja Dr Nazrin said before launching the book, Malaysia: From Kampung to Twin Towers – 50 Years of Economic and Social Development by Datuk Dr Richard Leete in Kuala Lumpur yesterday.

Dr Leete is the United Nations Resident Coordinator for Malaysia, the United Nations Development Programme Resident Representative for Malaysia, Singapore and Brunei and the United Nations Population Fund Representative for Malaysia.