A Malaysian researcher expects the positive outcomes of the first meeting of the China-U.S. economic and trade consultation mechanism in London to bring much needed stability to the trade relationship between the two major powers which will benefit Malaysia and the wider ASEAN region.
In an interview with the China Global Television Network (CGTN), Peter TC Chang, former deputy director of the Institute of China Studies at the University of Malaya and a research associate at the China-Malaysia Friendship Association, said he was encouraged by the progress made at the China-U.S. trade talks in London from Monday to Tuesday.
An official from the Chinese ministry of commerce said the two sides conducted professional, rational, in-depth and candid exchanges during the two-day meeting, and have agreed in principle the framework for implementing the consensus between the two heads of state during their phone talks last Thursday, as well as those reached at the recent meeting in Geneva.
Giving his reaction, Chang said the London meeting has sent out positive signals which will encourage markets across Asia following the recent tariff escalation.
"We are happy to hear that both major powers have agreed in principle on a framework in which a deal with their trade, tariffs and exports control [can be made]. First, in Malaysia and ASEAN, we have always had this world view that the major powers of the world should really work together. It is to ASEAN and Malaysia's benefit that China and U.S. are able to strike up a cordial and respectful relationship. Therefore, the news coming out from London was indeed a good one for us," he said.
"China and the U.S. are both major trading partners for Malaysia and ASEAN in general. So, the tariff war has not only hurt the two major powers, but it has also hurt Malaysia and ASEAN as well. So, we just hope that this meeting coming out from London will bring some sort of stability to the very tense trade relationship between the two powers and that will really benefit Malaysia and ASEAN as a whole," he said.
China-US trade talks bring stability, benefits ASEAN region: Malaysian expert
China-US trade talks bring stability, benefits ASEAN region: Malaysian expert
