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Word Count: 1,666
As the world prepares to move into the twenty-first century many nations are rapidly developing their agricultural and manufacturing sectors As these burgeoning industries become a larger part of the nations economy the nation finds its population restructuring and streaming to the areas of growth Just as the people are trying to compete for their survival the nation is fighting its way to center stage in the world economy The development of these countries is tied to the worlds economy as is evidenced by the uneven development within each of the nations Malaysias growing role in the world economy is likewise intertwined with the development of its industrial regionsMalaysias economy is centered on the production of rubber timber tin and petroleum Almost all of the countrys production of rubber and palm oil is raised solely for export Historically rubber was the dominant export but now it is palm oil in terms of square miles used to cultivate it Rubber like no other major commodity in the world was subject to dramatic and rapid shifts in sources and derivation of demand McHale 9 Thus Malaysia has been moving away from its complete dependency on rubber for its income and begun to diversify its economy The peninsulas forests produce approximately 1100000 tons of timber each year and about two thirds of that is exported Up to 1965 Malaysia was producing 40 of the worlds tin supply However with its quickly diversifying economy Malaysia no longer depends on tin as a substantial part of its income Small amounts of other useful minerals can be found all over Malaysia as it is a naturally abundant landIts major exports are electronic equipment machinery petroleum palm oil rubber timber and tin The biggest trading partners are Japan the United States and Singapore Other trading partners include the United Kingdom and Russia About two thirds of the land on the peninsula is devoted to the cultivation of rubber and Malaysia produces more
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