Prof Michael Spence, Nobel Prize winner for Economics in 2001, talks about China's experiences of becoming a developed country, and Malaysia's challenges of doing the same. There is a need to shift the focus from industries that do not add value and do not contribute to Malaysia's competitive edge. While there could be strategic reasons to focus on the automotive sector, he does not think it's a good idea to do so, and does not agree with protectionism measures.
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