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Looking at how other countries are coping with the fundamental shifts taking place in the world economy often provides a helpful perspective for civic leaders in US regions.
Last week, Malaysia's government announced a new economic policy, which it
calls the New Economic Model.
The table of contents is framed around key strategic
questions:
- Where are we?
- What's happening around us?
- Which advantages do we have?
- Where do we want to be?
- How do we get there?
(This structure provides clarity to the document, a clarity that is often missing in economic and workforce strategy documents in the U.S.)
A good strategy tells a good story. Clearly, the government hopes with the New Economic Model to frame a different type of narrative about the country's future.
The document is also framed around a good graphic that outlines how economic development involves the balancing of different dimensions: high incomes; inclusiveness; and sustainability. (The term "rakyat" means people.)
I find this graphic a bit more accessible and understandable than the "triple bottom line" graphics of people, planet and profit. (See this example.)
You
can download a copy of the Malaysia strategy document here. You can read more about the strategy here.
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