Malaysia’s trade is expected to remain resilient in April and pugnaciously strong in the next few quarters, growing between 25 to 45 per cent in the coming months, an economist said.
Juwai IQI Global chief economist Shan Saeed said the Malaysian economic outlook is strongly linked with the positive outlook for China, ASEAN and the United States (US) and would benefit from these countries’ growth.
He said the Chinese economy is seen moving at a faster pace post-COVID-19 pandemic with domestic demand in the country remaining strong due to its dual circulation strategy.
“This is China’s strategic approach to adapting to an increasingly unstable and hostile outside world by placing a greater focus on the domestic market or internal circulation, and place less reliance on its export-oriented development strategy or external circulation without abandoning it,” he told Bernama.
He said with global economies opening up and ASEAN coming out of the pandemic situation, the region which is the largest trading partner with China would benefit more due to the regional proximity and strong commerce and economic ties.
Read more: Bernama