Rather than put resources and emphasis on focusing on exporting raw, unprocessed rubber exclusively, Malaysia is more and more involved in producing and exporting rubber-based goods such as gloves used in hospitals, car and truck tires, and other value-added goods derived from raw, unprocessed rubber. Discuss the motives for choosing this new strategy and the policies for implementing it.
A complete answer will include a discussion on price changes (present and future), income elasticity of demand, and the types of products produced in this scenario.