Asean nations have yet to fully recover the effects of Covid-19 and current geopolitical currency tensions are not helping matters

SINGAPORE/KUALA LUMPUR: The ongoing geopolitical tensions and economic warfare between major powers has seen a strong push by the anti-Western bloc to promote trade in local currencies and de-dollarisation, further complicating the efficacy of international trade.

Citing practical challenges such as the possible oversupply of local currencies that could result from shifting away from the dollar, Samirul Ariff Othman, a former senior research officer with the Malaysian Institute of Economic Research (MIER) members of the Association of South-East Asian Nations (Asean) would be unwise to trade ease of doing business to score limited political points.