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 Business

Zeti: Asian economy to remain resilient amid ongoing trade war

12th July, 2018

KUALA LUMPUR: The Asian economy, including Malaysia, will remain resilient amid the ongoing trade war between the United States (US) and China, said former Bank Negara Malaysia Governor, Tan Sri Dr Zeti Akhtar Aziz.

Commenting on the latest news on the escalating trade conflict whereby the US in its latest move threatened to impose fresh tariffs on another US$200 billion of Chinese goods, she said this kind of global trade war (between the US and China) did not benefit anyone.

“But I believe in the resilience of the Asian economy and we will demonstrate the resilience going forward,” she told reporters after the Council of Eminent Persons meeting at Menara Ilham here on Wednesday.

In the latest spat on the imposition of fresh tariffs by Washington, Beijing has vowed to retaliate.

The US Trade Representative released a new round of proposed tariffs, listing 200 pages of items valued at US$200 billion which included baseball gloves, handbags and digital cameras.

This latest move came just two days after US$34 billion duties in good and services came into effect. –Bernama

   
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