PETALING JAYA: With 50 years of mutual trust and understanding under the belt, relationships between Malaysia and China are expected to soar higher, particularly in the field of emerging technologies, experts say.
Malaysian Institute of Economic Research’s (MIER) head of research and senior research fellow Dr Shankaran Nambiar said there are tremendous opportunities for both nations to propel their economic ties forward, especially in the realm of emerging technologies.
“There is ample scope for cooperation in emerging technologies such as AI (artificial intelligence), IoT (Internet of Things), blockchain technology and the like.
“China is a leader in these technologies, and it can channel investments in these areas in Malaysia and also enter into joint ventures with Malaysian companies.
“The government-linked companies can take the lead in these efforts,” he said.
He said Malaysia is also pursuing an independent economic policy path under Prime Minister Datuk Seri Anwar Ibrahim.
“The Prime Minister shares a similar line of thinking with China. In particular, Anwar is in agreement that it is time to float an Asian Monetary Fund.
“He is also fully supportive of the idea of dedollarisation, something that he expressed during his visit to China,” he said.
He said that Anwar will be able to work with Chinese leader Xi Jinping to usher in a new era of South-South cooperation to place the developing world at the centre of the global economy.
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Assoc Prof Dr Ngeow Chow Bing, a director of the Institute of China Studies, Universiti Malaya, said China has grown to become one of the most important trading partners for Malaysia over the past five decades.
“Besides trade, we are now looking towards the significant technological breakthroughs in China to be part of the continuing relationship between both nations,” he said, adding that Malaysia and China relations are expected to be further boosted when Malaysia chairs Asean in 2025.
“China is one of the most active dialogue partners in Asean and the event would provide a good platform for engagement not only with Malaysia but with Asean as a whole,” he added.
Despite some differences between Malaysia and China, he emphasised that both nations have resorted to diplomacy and engaged in calm, rational and mature dialogue to iron out differences.
“This will be the basis for both nations as they move forward in their relationship,” he said, adding that both countries share similar positions on several current issues.
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Ngeow also noted that Malaysia and China relations are expected to reach new heights as both Anwar and Xi have placed importance on “civilisational heritage” as a guiding factor.
Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan said the win-win relationship between the two nations over the past 50 years has brought significant Chinese investment into the country.
“Without China’s Belt Road Initiative, investment and technology, the construction of the East Coast Rail Link would remain only a dream for us,” he said.
He said the ongoing trade war between China and the United States may pose a challenge for the country to remain neutral in a polarised Indo-Pacific region.
However, he noted that strong relations and mutual understanding between Malaysia and China have helped both nations resolve issues without jeopardising trade.
