Plaza Accord
In the 1970s, the number of Japanese subsidiaries and joint ventures in Malaysia increased significantly. By 1979, roughly 43% of Japanese JVs in Malaysia were engaged in manufacturing, primarily in the electronics, chemicals, wood products, and chemicals. The movement of Japanese manufacturing to southeast Asia, including Malaysia, intensified with the implementation of strong-yen monetary policies under the 1985 Plaza Accord. Japanese subsidiary companies in Malaysia show a tendency to employ a far higher number of expatriate staff than their British or American competitors; a 1985 survey found a figure of 9.4 expatriate Japanese staff per subsidiary, though noted a declining trend.