from a special correspondent
U.S. investment would strangle Malaya's national economy, said the Malgan People's Party (Party Ratayat) in a statement on June 25th. The party expressed its opposition to the signing of a revised "investment guarantee" agreement on June 24th between the Malaysian Government and the U.S. Ambassador in Kuala Lumpur to facilitate the expansion of U.S. monopoly capital's economic influence in the country.
The statement said that in addition to exploiting the cheap labour of Malaysia, U.S. investments would enjoy a seven-year tax-free term under the agreement. Through economic expansion, U.S. monopoly capital would also exert its influence in the political and military fields of the countrys The Malaysian economy was already under the monopoly control of British big business. The inflow of U.S. capital would make the national economy suffer under a heavier -neo-colonialist pressure,’ and accelerate the outflow of the country's wealth, the statement concluded,
It would appear that Mr. Wilson's "East of Suez" policy has the role of protecting U.S. investment as well as that of British big business, The next time the question of solidarity with Malaysia is debated in the House of Commons it would be good if this was pointed oute