Is Malaysia a developed country? This question often sparks debates among economists, policymakers, and citizens alike. Malaysia, a Southeast Asian nation, has made significant strides in its economic and social development over the past few decades. However, whether it can be classified as a developed country remains a topic of discussion.
Malaysia’s journey towards development began in the 1960s when the country started to diversify its economy beyond its traditional reliance on agriculture and natural resources. The government implemented various policies and initiatives to promote industrialization, education, and infrastructure development. As a result, Malaysia experienced rapid economic growth, which led to an increase in its per capita income and improved living standards for its citizens.
One of the key indicators used to determine whether a country is developed is its Gross National Income (GNI) per capita. According to the World Bank, a country is considered a high-income country if its GNI per capita is above $12,236. In 2020, Malaysia’s GNI per capita was $11,590, which places it just below the high-income threshold. This suggests that Malaysia is on the brink of joining the ranks of developed countries.
Another important factor to consider is the Human Development Index (HDI), which measures a country’s average achievement in three basic dimensions of human development: a long and healthy life, access to knowledge, and a decent standard of living. In the 2020 Human Development Report, Malaysia was ranked 66th out of 189 countries, with an HDI value of 0.798. This ranking indicates that Malaysia has made considerable progress in human development, although there is still room for improvement.
However, despite these positive developments, Malaysia faces several challenges that question its status as a developed country. One of the main concerns is income inequality. While the country has experienced significant economic growth, the benefits have not been evenly distributed among all citizens. The Gini coefficient, a measure of income inequality, was 0.412 in 2019, which is considered high. This suggests that a significant portion of the population is still living in poverty or experiencing low income levels.
Moreover, Malaysia’s environmental sustainability is another area of concern. The country has been criticized for its reliance on natural resources, which has led to deforestation, pollution, and other environmental issues. Addressing these challenges is crucial for Malaysia to achieve sustainable development and maintain its status as a developed nation.
In conclusion, while Malaysia has made significant progress in its economic and social development, it is still debatable whether it can be classified as a developed country. The country’s GNI per capita and HDI rankings suggest that it is on the right track, but challenges such as income inequality and environmental sustainability need to be addressed. Only time will tell if Malaysia can overcome these obstacles and truly become a developed nation.
