January 15, 2021
–
31
–
The United States ‘Joe Biden’ hopes to strengthen Asian relations, while former Malaysian leader Dr. Mahathir expects to see differences in the US because of President Donald. Trump knows nothing about Southeast Asia. But Biden understood the region better.
Mahathir is confident Biden will help restore US and Asian relations. Ready to end the trade war between the US and China While opinion polls, business leaders in East Asia predict better US-China bilateral relations during the Biden era.
Dr Mahathir Mohamad, former Prime Minister of Malaysia In an interview, Reuters predicts that The United States under the administration of Joe Biden, who will be taking the oath of office of President of the United States on January 20, will come. It will improve relations between the US and Asian countries. It will also help end the trade war between the US and China. After two years of deteriorating in trade relations by President Donald Trump,
“I expect to see a difference from the days of President Trump. Because Trump knows nothing about Southeast Asia, Trump is hostile to all countries. But I think Biden wants to change this policy. And the Biden team understands It has friendly relations with many countries that are ready to support the United States, ”said Dr Mahathir.
Biden said last November that the United States was ready to lead the world again when it officially took over on January 20, after the world faced trade barriers under the policy. America must come first, ”said President Trump, who created hostility with allies and fueled a trade war with economic giants like China.
“I don’t believe Biden will go ahead and wage a stupid trade war with China. There should be some efforts that may help resolve the trade imbalance, but I am confident Biden is not going to continue the trade war with China, ”said the former Malaysian prime minister.
The world’s two largest economies have had deep ties since July 2018, when the United States called on China to adjust policies that protect its intellectual property for the United States and open up more Chinese markets to American companies than it does. are
The recent survey was conducted by the Nikkei website and leading newspapers in South Korea and in China. More than 50% of business leaders in China and South Korea predict that US-China relations will improve under President Biden’s administration and will help fuel the global economy to recover.
57% of respondents in China believed that bilateral relations of the two countries would improve. Or will it improve significantly after Biden’s presidency on January 20, as in South Korea, where 51% of respondents view the same, but business leaders in Japan are pessimistic. Only 25% say US-China relations will improve and 70% expect the two countries’ relationship to remain the same.
This survey was conducted on Dec. 7 last year. Inquiring opinions of 290 business executives from around 100 international companies
The positive view of the former Malaysian leader came on the same day that analysts from various offices took the lead. Together to lower Malaysia’s economic forecast this year. After Malaysia announced a lock-down measure. Including a state of emergency to control the spread of COVID-19
The Malaysian government has enacted a nationwide travel ban. And lock down in 6 different states for 2 weeks starting from Wednesday (13 Jan)
In addition, King Sultan Abdullah Ahmad Shah of Malaysia declared a state of emergency throughout the country. The goal is to allow the government to postpone elections as Malaysia is dealing with the COVID-19 virus. That spread heavily The emergency will last until Aug. 1 or ends sooner. Depending on the epidemic situation of COVID-19
Although it is not clear how the emergency will affect the lives of Malaysians. But regulations from declaring a state of emergency will stop all Congress meetings. In accordance with the law, the Prime Minister and the Cabinet can approve the bill without passing the Parliament.
But parliamentary opposition views that the Prime Minister of Malaysia Submit a request for an emergency declaration It is because the government wants to hold more power than the outbreak of the disease. Because now there is an opposition. Including allies of the government that try to pressure Muhyiddin Yassin resigned as prime minister.
After Malaysia announced such measures Analysts have downgraded Malaysia’s economic forecast this year. By analysts from Capital Economics predicts that The Malaysian economy will grow only 7% this year, down from the previous forecast of 10% expansion.
While UOB analysts Downgrade Malaysia’s economic forecast to 5% from 6%. Analysts at Mizuho Bank. Downgrade forecast to 5.9% from 6.7%, and Fitch Solutions analysts downgraded their forecast to 10% from 11.5%.
Malaysia was one of the worst hit Asian countries last year. By last month of October The International Monetary Fund (IMF) downgraded Malaysia’s 2020 economic forecast to a 6 percent contraction from its previous 4.3 percent expansion.
– .
