World Chinese Economic Forum: Delegates see opportunities as well as downside
Updated 08:22, 13-Nov-2018
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The World Chinese Economic Forum is taking place in Kuala Lumpur against the backdrop of renewed hope that the US-China trade conflict could ease. Delegates from 25 countries including many business people and academics from China are discussing the biggest challenges of the day. They're also looking to create more business opportunities. The Chinese diaspora in Southeast Asia was a critical bridge to China when the country embarked on its reform and opening up 40 years ago. And it remains an important bridge today, as Rian Maelzer reports from Kuala Lumpur.
Last year, the World Chinese Economic Forum took place against the looming threat of the US imposing tariffs on China. And that has been the reality business people and policymakers have had to cope with for the past 10 months. Now, though, there is new optimism that the US-China trade conflict could ease if not end.
AMBASSADOR SU GE, CHAIR CHINA NATIONAL COMMITTEE FOR PACIFIC ECONOMIC COOPERATION "In the end, we hope that these countries will come up with something, something accepted to both and benefiting the region and the world."
Even now, some see a silver lining to the trade conflict.
DR. XIANG BING CHEUNG KONG GRADUATE SCHOOL OF BUSINESS, BEIJING "It will force many Chinese companies to truly go global. So many companies will come to this region: Malaysia, Vietnam and Thailand, and will go to Europe. Trade will continue. The supply chain will be reconfigured."
Still, while ASEAN countries might see some benefit, the region has benefited greatly from globalization, and business people and governments here would welcome a quick resolution to the US-China trade war.
RIAN MAELZER KUALA LUMPUR "The forum aims to strengthen economic linkages between China, Southeast Asia and Europe as well as bringing together the Chinese diaspora."
MICHAEL YEOH CO-FOUNDER, WORLD CHINESE ECONOMIC FORUM "The Chinese diaspora is an important source of investments and are key players in the global economy. 60 percent of FDI into China came from the global Chinese diaspora."
MAHATHIR MOHAMAD PRIME MINISTER OF MALAYSIA "Malaysia fully appreciates the Chinese contribution to the development of Malaysia. Indeed we feel that without them much of the development of Malaysia would be lagging somewhat behind."
And that diaspora will continue to forge new ties and seek new business opportunities regardless of any global trade friction. Rian Maelzer, CGTN, Kuala Lumpur.