Compare and Contrast Essay
Malaysia is one of the well known developing country in this new global era. The economy of Malaysia is getting improved from time to time. It is because Malaysia wants to compete against other well developing countries such as Singapore. Singapore is a country that has a highly developed market-based economy which is well known all around Asia.
There are a lot of differences in terms of economy in both of this country. The differences is Malaysia is still consider as developing country while Singapore already known as a well-developed country. Singapore depends heavily on exports and refining goods, especially in manufacturing the products of electronics, petroleum refining, chemicals, mechanical engineering and biomedical science sectors. While Malaysia mostly actively in macroeconomics plan and the economy of the agriculture.
The products that exist in Singapore is much more better than the one in Malaysia. It is because Singapore is much more developed than Malaysia. But Malaysia also one of the largest producer of tin, rubber and palm oil in the world these days. Malaysia also has developed itself into a centre of Islamic Banking which can contribute a lot in improving the economy of this particular country.
In conclusion, Malaysia and Singapore have a lot of differences in terms of the economy. We can see that Singapore has a better economy and a lot of good products compare to Malaysia. In mean time, Malaysia need to be improved so that can compete with other developing countries in this world.