KUALA LUMPUR - The recent"Rise of the Asian Tiger Convention" put under one roof many heavyweight politico-economic leaders, including Prime Minister Tun Dr Mahathir Mohamad and Datuk Seri Anwar Ibrahim who addressed the participants.
Malaysians growing up in the 1980s and 90s should be familiar with the term"Asian Tigers" which to many of that era marked a golden age for this part of the world.Starting from 1988, Malaysia's economy had been growing at more than 9 per cent annually for nine straight years, breaching the 10 per cent mark in 1996.
Mahathir's"Bangsa Malaysia" slogan was very well received during those years because people were flushing with confidence and believed life would only get better the next day. Many economists predicted that Malaysia would soon join Singapore, Hong Kong, Taiwan and South Korea as Asia's fifth Little Dragon.
Having been bruised by the setback, the Asian Tigers that once held a lot of promises were fumbling to stay afloat. While some progress was made, they were never returned to their glorious past.The four Little Dragons had scaled new heights in technology and value chains, while the rise of China sucked away most of the international funds, throwing these Little Tigers far behind in many areas.
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