Malaysian Prime Minister Anwar Ibrahim has put forth a proposition for countries seeking a “neutral and non-aligned location” amid the escalating US-China technology war: Choose Malaysia for semiconductor production, say these experts.
KUALA LUMPUR: US-China competition resulting in economic and technological decoupling is motivating small and middle powers to create middle-ground alternatives.for countries seeking a “neutral and non-aligned location” amid the escalating US-China technology war: Choose Malaysia for semiconductor production.
That said, Malaysia’s neutrality claim would attain more credibility if Anwar embraces the Indo-Pacific construct with the same zeal. The US-China competition, particularly over Taiwan and the South China Sea, continues to pose significant risks. Motivations for de-dollarisation are multi-faceted. They range from reducing a country’s exposure to the negative impact of “error-fraught monetary policy” to the continued weaponisation of the US dollar, for example, with sanctions.
While de-dollarisation and an Asian Monetary Fund may not immediately challenge the dominance of the US dollar or existing international institutions, they offer small and middle powers such as Malaysia greater flexibility and autonomy. These initiatives are designed to mitigate potential fallout from geopolitical rivalry and to shield Malaysia from uncertainties should the competition intensify.
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