There are no winners in trade war, says Guan Eng
Finance Minister Lim Guan Eng and Penang Chief Minister Chow Kon Yeow with Hotayi Malaysia chairman Datuk Lee Hung Lung and Taipei Economic and Cultural Office representative for Malaysia Anne Hung at the launch of Hotayi Electronic Sdn Bhd’s newly expanded electronics production facility in Batu Kawan June 15, 2019. — Bernama pic
The trade war between the two economic superpowers has benefited Malaysia in terms of business relocations as well as trade and investment diversions, but in the long run, the country would be affected by the global economic slowdown. “We hope that both China and the US can come to a settlement. We hope that when the US President Donald Trump visits Japan for the G20 Summit, he will consider the larger global interest,” he told a press conference after the launch of Hotayi Electronic Sdn Bhd’s newly expanded electronics production facility here today.
Meanwhile, earlier in his speech, Lim congratulated Hotayi’s move to invest RM1 billion to expand its production facility in Penang and become a strategic partner for smart manufacturing in Asean.
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