Najib welcomes Trump… Guan Eng, not so much
Penang needs open trade but new US president thinks America “will gain only when the global economy suffers”, says chief minister.
BUTTERWORTH: While the Prime Minister of Malaysia welcomed President Donald Trump to the world stage, Penang Chief Minister Lim Guan Eng expressed some concerns.
In congratulating the newly-minted US president, Najib was quoted by Bernama as saying: “I look forward to working with President Trump.
“I’m confident that under his and my leadership, the relationship between the US and Malaysia will strengthen and we will be steadfast partners for peace and prosperity in the region.”
But over in Penang, Lim said about Trump: “He seems to be taking the position of opposing fair trade throughout the world.”
Lim told reporters at an event in Bukit Mertajam today: “This is something we are very concerned about… the fact that he still continues with his position on investment and trade, when what we need is fair trade.”
Yesterday, Trump was sworn-in as the 45th US President. In his inaugural speech, he spoke of the US “enriching foreign industry at the expense of American industry”.
He also said that “from this day forwards, it’s going to be — always — America First”.
Lim said Trump’s speech was “ominous”, especially for the world economy.
“We will wait and see if this can help the US economy. He thinks the world economy is a zero-sum game, where the US will gain only when the global economy suffers. (He thinks) the US needs to prevent the expansion of global trade so the US can grow.
“We feel it should not be a zero-sum game, but rather a win-win scenario for everyone, where we can all grow together,” he said.
Reuters has reported that the new US administration’s trade strategy to protect American jobs would start with its pullout from the 12-nation Trans-Pacific Partnership trade pact.
US was one of the signatories of the pact with countries from the Pacific Rim, including Malaysia. The pact, which excluded China, covered 40% of the world economy.
As an industrial state with half its economy in the manufacturing sector, Penang needs foreign investments from major trade partners such as the US.
Exposed to an investment condition that seemed to discourage investment outside the US, Lim said the state was worried.
Meanwhile, when Lim Kit Siang was asked what he thought of Trump, he said: “Under Najib, Malaysia is trump-ish enough.”
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