Govt still assessing economic impact of US political shift
KUALA LUMPUR: Malaysia is examining the short and medium-term impacts from US political developments following the Republican Party’s defeat in the midterm elections, says Prime Minister Datuk Seri Anwar Ibrahim.
He said the matter was discussed in depth during yesterday’s Cabinet meeting and Malaysia would continue to monitor the situation, including potential implications regarding the implementation of reciprocal tariffs.
“However, our relations with the current administration, the existing government, as well as both incumbent and newly elected members of Congress including the House of Representatives, will continue,” he told reporters after performing Friday prayers at the Taman Kosas mosque, near here, Bernama reported.
The US midterm elections on Tuesday led to what had been billed as a “blue tsunami” with the Democratic Party securing control of the Senate and the House of Representatives.
Offering a personal perspective on these developments, Anwar welcomed the shift, viewing it as a rejection by the electorate of politics rooted in racial and religious hatred including anti-Islamic sentiment and hostility toward minority groups.
“From a global standpoint, I see this as a positive signal, many (of those elected) oppose attacks and hostility toward Islam, as well as hostility toward Iran. Hopefully, this will help ease international geopolitical tensions.”
The Prime Minister said these developments serve as a lesson for Malaysia to avoid the politics of hatred, and instead focus on building a mature society and eradicating corruption.
“What is important for us to learn here in Malaysia? We must strive to cultivate integrity and to cleanse the nation of greed and corruption,” he said.
In a related development, Anwar said he received a call from US Secretary of State Marco Rubio yesterday to discuss preparations for a possible meeting between the Prime Minister and US president Donald Trump in either Manila, the Philippines, or Shanghai, China.
Anwar noted that the US side expressed hope that investment opportunities for American companies particularly in artificial intelligence and semiconductor sectors would not be compromised in other countries, including Malaysia.
However, he emphasised that Malaysia would not restrict investments from any nation, including China, provided that the companies in question comply with national regulations and respect the country’s interests.
He cited the example of Google’s US$15bil investment in Malaysia, which will be accelerated over the next two years and the company is required to independently cover costs related to water supply, training, and university facilities.
“The same applies to matters like rare earths, we welcome investment from any country, but on the condition that processing takes place domestically, that national regulations are followed, and that the materials are not used for equipment classified as weaponry.”
