Buy British Last Policy of Mahathir
Mahathir Mohamad
Malaysia was a former British colony. By the 1980’s, Malaysia had been independent for almost two decades, beginning from 1957. In 1981, the Federation of Malaysia was a developing nation, striving to achieve a status of an industrialized country. By July of the same year, a new Prime Minister came to power, Mahathir Mohamad. Few months after taking office, he presided over a clash between the former colony and former colonizers.
The Buy British Last Policy was announced by Malaysian Prime Minister Mahathir Mohamad in 1981. The policy was a retaliation from a number of British aggravations. The main spark concerned the large British company of Guthrie. Guthrie owned about 200,000 acres of rubber plantation in Malaysia. In 1981, the Malaysian Perbadanan Nasional Berhad or the National Equity Corporation launched a dawn raid at the London Stock Exchange that resulted to the acquisition of Guthrie. The takeover of Guthrie was again a retaliation by the Malaysian government for the British company’s decision to sell its subsidiaries to the Multi-Purpose Holding of the Malaysian Chinese Association (MCA). This selling to the MCA was against the agenda of the …show more content…
The change of rules blocked any hope of owning British companies that had significant assets to the natural resources of Malaysia. The tuition increase resulted to the rise of government expenditures for sending students to Britain. As a result of the British government’s action, Prime Minister Mahathir announced the Buy British Last Policy.
Under the Buy British Last Policy, restrictions were placed on British imports and contracts. All contracts and imports from Britain must first be approved by the Prime Minister’s Office. Accompanying the requests, a list of possible substitutes from non-British companies or products must be sent as well. The policy hampered trade between Great Britain and
Mahathir Mohamad
Malaysia was a former British colony. By the 1980’s, Malaysia had been independent for almost two decades, beginning from 1957. In 1981, the Federation of Malaysia was a developing nation, striving to achieve a status of an industrialized country. By July of the same year, a new Prime Minister came to power, Mahathir Mohamad. Few months after taking office, he presided over a clash between the former colony and former colonizers.
The Buy British Last Policy was announced by Malaysian Prime Minister Mahathir Mohamad in 1981. The policy was a retaliation from a number of British aggravations. The main spark concerned the large British company of Guthrie. Guthrie owned about 200,000 acres of rubber plantation in Malaysia. In 1981, the Malaysian Perbadanan Nasional Berhad or the National Equity Corporation launched a dawn raid at the London Stock Exchange that resulted to the acquisition of Guthrie. The takeover of Guthrie was again a retaliation by the Malaysian government for the British company’s decision to sell its subsidiaries to the Multi-Purpose Holding of the Malaysian Chinese Association (MCA). This selling to the MCA was against the agenda of the …show more content…
The change of rules blocked any hope of owning British companies that had significant assets to the natural resources of Malaysia. The tuition increase resulted to the rise of government expenditures for sending students to Britain. As a result of the British government’s action, Prime Minister Mahathir announced the Buy British Last Policy.
Under the Buy British Last Policy, restrictions were placed on British imports and contracts. All contracts and imports from Britain must first be approved by the Prime Minister’s Office. Accompanying the requests, a list of possible substitutes from non-British companies or products must be sent as well. The policy hampered trade between Great Britain and