Malaysia: Muslim and Prosperous. Prosperous, dynamic Malaysia is a country populated mostly by Muslims, a religion adhered to by a quarter of the world's population but which is widely seen in the West as wedded to an impoverishing system of economics and law.
Thus does Malaysia defy the stereotype, and underscore the universal effectiveness of market economies. It is now the tenth largest trading nation in the world. Its exports have grown from 1 to 100 billion dollars since 1963. Its economy has grown for 30 years with 7% average annual growth, with very varied agricultural and hi-tech manufactured exports. It has had a nearly 40% internal savings rate. GDP is nearly $10,000 per person for its population of 23 million. It is now also the U.S.'s tenth largest trading partner.
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Many commentators have asked the question of whether the West can really ever be at peace with Islam. Looking at Malaysia, the answer is clearly yes, provided governments permit market exchange and freedom of cultural contact, while avoiding imperial overreach and belligerence. [Ludwig von Mises Institute]
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