KUALA LUMPUR: The Sultan of Perak, Sultan Nazrin Shah’s book ‘Globalisation: Perak’s Rise, Relative Decline, and Regeneration’ launched today offers s...
The Sultan of Perak, Sultan Nazrin Shah’s book ‘Globalisation: Perak’s Rise, Relative Decline, and Regeneration’ launched today offers some suggestions on what Perak can do to continue to regenerate its economy and improve the welfare of its residents.
“Perak’s early growth was driven by tin, with inflows of capital, technology, and new ideas from Cornwall in the first decades of the colonial period. By the end of the 19th century, Perak’s production had already overtaken Cornwall’s,” Sultan Nazrin said in his Royal Address at today’s book launch. “After independence, Perak fared less favourably, however. Still heavily reliant on exports of tin and rubber, it remained exposed to dramatic swings in global demand, as well as competing sources of supply.
He added the 1985 tin crash, which saw prices halving in just a few years, brought devastation to Perak’s communities and massive job losses and the closure of mines accelerated the outflow of residents. The ruler said Perak has undoubtedly suffered as global trade patterns have shifted but it has greatly prospered as well.
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