Cities, People & the Economy: A Study on Positioning Penang
By Francis E. Hutchinson
April 2011BOOK REVIEW
By Homi Kharas, Albert Zeufack and Hamdan Majeed Khazanah Nasional Berhad and the World Bank, 2010. 96 pages.PENANG HAS ALWAYS had to depend on its people for economic survival. For the last 40 years, this has been achieved through a development model focused on medium-intensity manufacturing and tourism. A core group of multinational corporations, significant investment and visitor arrivals, and consistent economic growth in Penang signalled the strength of this framework, and the state came to enjoy per capita income...
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