The Transition Of Knowlede-Based Economy

Q: What are the characteristics of knowledge parsimony? Discuss the ch each(prenominal)enges faced by Malaysia in building a knowledge saving. 1.0 Introduction In this 21th century, discipline age lies upon us, in which of the advancement of information gyration was brought in a way of moving towards a globalize economy. In line with this context, the terminus of K-economy must be clarified. As such, the term of knowledge-based economy is resulted from the recognition of immensity of knowledge and engineering inwardly the emerging economy. Also, knowledge is embodied in gentle be as human capital and technology that standoff to the stinting nurture (OECD 1996; Ahmed n.d.). Over the years, many countries have know that its importance is growing, so to Malaysia. Currently, Malaysia is experiencing in revolutionary structural transplant from universe agriculture-based to production-based economy and currently towards knowledge-based economy (K-economy). The knowled ge economy travel by provides us a platform to affirm the quick economy harvest-feast as well as to achieve combat internationally in order to realize Vision 2020.

As to attain Vision 2020, our government has established the Multimedia tops(predicate) Corridor (MSC) in 1996, in order to promote transformation towards K-economy by add-on the integration of information communication technology (ICT) into all kinds of economic activities (Mustapha et al. 2008). In addition, our former Prime Minister of Malaysia, Dr. Mahathir Mohammed said, the give wayment of a knowledge-based economy is extremely importan t for the country to sustain rapid economic ! appendage and enhance international competitiveness. Indeed, in that location is a need to strengthen our capability to innovate and urine indigenous technology as well as excogitate and market new products. By increasing the knowledge input, we lead be able to change from an input-driven strategy to a productivity-driven growth strategy (Mahathir 2001). Dr. Mahathirss speech at the Dewan Rakyat...If you want to permit down a full essay, order it on our website: OrderCustomPaper.com

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