Paths to Prosperity: CGTN speaks with Malaysian PM Mahathir Mohamad
Updated 09:30, 04-May-2019
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Malaysian Prime Minister Mahathir Mohamad is currently the oldest state leader in the world. The 94-year old was one of 37 world leaders who attended the Second Belt & Road Forum in Beijing over the weekend. This was Mahathir's ninth trip to China. CGTN's Wei Lynn Tang sat down with the Prime Minister to get his thoughts on China's opening-up efforts and the likelihood of a looming financial crisis unfolding.
WEI LYNN TANG CGTN REPORTER "China has committed to further open up its markets. For one, it is lifting of foreign ownership limits in key sectors, it is further cutting tariffs. What are your thoughts on China's approach and pace of opening-up?"
MAHATHIR MOHAMAD MALAYSIAN PRIME MINISTER "China has always been a good market for Malaysia, even before. But now with the opening up of the Chinese market, we think we could increase our trade with China. I think this is a good thing because always there must be a two-way access. You must be able to export, but if you want your export to be accepted, you must also accept imports into your own country. So China is opening up."
WEI LYNN TANG CGTN REPORTER "What would Malaysia like to export more of to China, besides palm oil?"
MAHATHIR MOHAMAD MALAYSIAN PRIME MINISTER "Well we don't have much by way of technology, but we have durian, which is a good export to China and we have other raw materials but we also produce microchips which although China is very far ahead in manufacturing, still there are Chinese companies which need products that we produce from Malaysia. And a number of electronic products are also being exported to China and we hope to increase these exports."
WEI LYNN TANG CGTN REPORTER "China is moving up the value chain. Where previously it was a source of ample, cheap labour, now it also wants to produce high-quality products. How can Malaysian businesses really capitalize on this?"
MAHATHIR MOHAMAD MALAYSIAN PRIME MINISTER "Well we can learn from China. For example, in the automotive industry. We remember the first Chinese car, the Cherry, it was very poor quality. But now Chinese cars are as good as European-made cars, certainly the new produced by Geely and Proton, SUVX 70, it is a very good car. It is as good as any car that I've driven."
WEI LYNN TANG CGTN REPORTER "It's been 20 years since the Asian Financial Crisis and 10 years since the GFC. Do you believe in the 10-year cycle that some may subscribe to? If yes, in what shape and form would the next crisis be?"
MAHATHIR MOHAMAD MALAYSIAN PRIME MINISTER "Well in the first place it's not always 10 years. It may be longer it may be shorter. But so far nothing adverse has happened. To repeat what happened in 1997/98 and I think we are better prepared for such eventualities. We have learned how to handle the attacks against our currency, and we think that we are now much better protected than before. In any case, we see these things affecting many other parts of the world. It is what happened to them that affects us. For example the trade war between China and the US has affected our economy as well."
WEI LYNN TANG CGTN REPORTER "What would you like to see an outcome perhaps between China and the US? They are still in talks."
MAHATHIR MOHAMAD MALAYSIAN PRIME MINISTER "We would like to see an end to trade war. Trade war is very negative. It doesn't produce anything good at all."
WEI LYNN TANG CGTN REPORTER "My final question, I'd be remiss if I don't ask you this. You are the oldest serving state leader now in the world. How does it feel to be working and leading a nation at age 94?"
MAHATHIR MOHAMAD MALAYSIAN PRIME MINISTER "Well it is the same if I am 70 years old. It's not the age that's the problem. It's the ability to function, to think, work, discuss, and to argue our cases. I feel that I can still perform. I don't know for how long but at this moment I can still lead Malaysia, and be able to contribute towards its development."