KEEP CALM AND INTEGRATE WITH ASEAN
Malaysia’s officials and officers may continue to convince traders and investors that the country is still committed to opened trade and investment. The government has established a National Geoeconomic Command Centre and a Taskforce for the Ministry of Investment, Trade and Industry to follow improvements in conversation with partners.
The ASEAN Economic Ministers ‘ immediate meeting on April 10 showed that they have collectively opposed punitive levies. Malaysia may further facilitate the smoothing of supply chain adjustments and lessen investor concerns by using its chairmanship to build ASEAN unity.
The Trump administration is more interested in upending the world’s trading program and seeing nations capitulate, as Vietnam’s unsuccessful attempts to offer tax concessions demonstrate. Malaysia and ASEAN nations should also prioritize negotiating with the US, either individually or collectively, and focus their official resources on fostering socially beneficial partnerships and keeping track of sector-specific improvements.
It is important to keep in mind that significant economic shocks frequently cause more harm to less fortunate people, smaller businesses, and poorer nations. Smaller firms suffered the biggest losses from Brexit, while the wealthier nations and citizens recovered more quickly from the COVID-19 crisis.
Places like Malaysia has intensify efforts to reduce risk because the US appears to be trying to do so.  ,
Dr. Stewart Nixon serves as IDEAS ( The Institute for Democracy and Economic Affairs ) Malaysia’s Deputy Director of Research.