Economic miracle
Malaysia can be proudly called an economic miracle of South-East Asia. Malaysia has had one of the best economic records in Asia, with GDP growing an average 6.5 per cent annually from 1957 to 2005. Malaysia’s economy in 2014–2015 was one of the most competitive in Asia, ranking 6th in Asia and 20th in the world, higher than countries like Australia, France and South Korea. In 2014, Malaysia’s economy grew 6%, the second highest growth in ASEAN behind Philippines’ growth of 6.1%. The economy of Malaysia (GDP PPP) in 2014 was $746.821 billion, the third largest in ASEAN behind more populous Indonesia and Thailand and the 28th largest in the world. In July 1981, following the resignation of Hussein Bin Onn, the post of Prime Minister was taken by Dato Seri Mahathir Muhammad (ruled 1981-2003). The term of rule of Dr. Mahathir Mohamad is associated with the modernization of Malaysian society. The Government has committed itself to strengthening the order of production and social life, improving the efficiency of the administrative apparatus, strengthening the fight against corruption.   During the term of Mahathir Mohammad important substances as petroleum and natural gas were added to the traditional Malaysian export – rubber and palm oil. Industrial production later joined the list and became one of the most important contributors. Economic growth was accompanied by a reduction in the proportion of the population below the poverty line from 20,7 to 4.5% in 2007. Malaysia has achieved those results by relying on exports, the proceeds of which in 2002 amounted to 95.2 billion dollars.    During the term of Mahathir Mohammad important substances as petroleum and natural gas were added to the traditional Malaysian export – rubber and palm oil. Industrial production later joined the list and became one of the most important contributors. Economic growth was accompanied by a reduction in the proportion of the population below the poverty line from 20,7 to 4.5% in 2007. Malaysia has achieved those results by relying on exports, the proceeds of which in 2002 amounted to 95.2 billion dollars.   An interesting fact is that at the conference of Muslim countries the former prime minister stressed that Malaysia did not develop on the suggestions of foreign advisers but acted in completely different and sometimes opposite ways. Foreigners advised Malaysia to retain as an exporter of cheap raw materials, but Malaysia industrialized. Foreigners warned against the beginnings of social justice, while Malaysia is implementing a new economic policy that harmonized society and prevented friction between ethnic and religious groups. Foreigners advised not to commence the development of the automotive industry, while Malaysia has done it and achieved notable success. Foreigners advised not to start big infrastructure projects, and the leaders of Malaysia thought in broad mind – large projects provide great economic benefits. 840-kilometer highway from north to south, Pinang bridge, KL Tower, Kuala Lumpur International Airport (KLIA), designed to service 25 million passengers annually (this amount will be sufficient in the next century), and other basic infrastructure projects.