2018年CRI MayCham: Malaysia not spared from China-US trade war

 

It has been just over three months since Malaysia saw a change in government after being ruled by the same previous administration for 61 years.

Observers will be keen to see how the country will iron out its economic relations, as Malaysia’s 93-year old Prime Minister Mahathir Mohamad is due to arrive in China for a state visit – his first since being re-elected in May – on Friday.

This comes on the heels of the suspension of Malaysian projects amounting to some 23 billion US dollars backed by Chinese state-owned firms.

While the Malaysian Chamber¹ of Commerce and Industry in China is elated with this change in administration, its chairman, Will Fung, said it is still too soon to tell of any meaningful outcome – when asked about the impact towards Malaysian businesses in China.

“Generally, we are confident and positive that right now Malaysia needs some time to do some internal housekeeping. But going forward, I believe that we’ve got better more room to collaborate² [together],” Fung told CGTN.

“From the chamber level, we are spreading the word that… we can’t do without working and collaborating³ together with China. It is the second largest economy in the world,” Fung said. 

The interaction of people-to-people exchanges at a grassroots level, Fung said, is particularly important. Fung, who is a practicing lawyer advising foreign clients on corporate⁴ mergers⁵ and acquisitions, has been living in China for the past 12 years.

“We have the advantage – right now we have close to 8 million Chinese in Malaysia who can be used as a bridge. Many of our fellow Malaysians are going ‘over and beyond’ to learn the Chinese language, and we are also learning the cultural aspects and differences.”

China has been Malaysia’s largest trading partner for the past nine years. It has also remained as Malaysia’s biggest source of imports, accounting⁶ for one fifth of its total imports last year.

In 2017, bilateral⁷ trade between the two nations rose 10.5 percent year-on-year to 96 billion US dollars. According to China’s Ministry⁸ of Commerce, this made up 18.7 percent of all trade between China and ASEAN.

Amid an escalation⁹ of sorts in the trade war between China and the United States, Fung said Malaysian businesses in China have been impacted to some extent. 

“You have to bear in mind that quite a few companies are manufacturing semiconductors¹⁰ here, they use it (China) as a hub, but their final destination is not just within China, it is to the US and Europe,” he said. 

As such, these Malaysian intermediary products made in China have also been slapped with tariffs¹¹, Fung quipped. “I don't think a trade war benefits anyone, everyone tends to lose.”

Meanwhile, some companies have made plans to relocate their production bases from China to other parts of the world, such as Southeast Asia, because of this trade war. But for Fung, he said this has been something that’s already been happening gradually. 

“As far as foreign direct investments are concerned, the cost of investment in China is getting very high. There has been a lot of discussion whether is it still viable¹² to continue to have their base here or would a third world developing country a preferred destination,” Fung added.

1 chamber   

n.房间，寝室；会议厅；议院；会所

参考例句：

• For many,the dentist's surgery remains a torture chamber.对许多人来说，牙医的治疗室一直是间受刑室。
• The chamber was ablaze with light.会议厅里灯火辉煌。

2 collaborate   

vi.协作，合作；协调

参考例句：

• The work gets done more quickly when we collaborate.我们一旦合作，工作做起来就更快了。
• I would ask you to collaborate with us in this work.我们愿意请你们在这项工作中和我们合作。

3 collaborating   

合作( collaborate的现在分词 )； 勾结叛国

参考例句：

• Joe is collaborating on the work with a friend. 乔正与一位朋友合作做那件工作。
• He was not only learning from but also collaborating with Joseph Thomson. 他不仅是在跟约瑟福？汤姆逊学习，而且也是在和他合作。

4 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

5 mergers   

n.（两个公司的）合并( merger的名词复数 )

参考例句：

• Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。 来自辞典例句
• Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。 来自英汉非文学 - 政府文件

6 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

7 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

8 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

9 escalation   

n.扩大，增加

参考例句：

• The threat of nuclear escalation remains. 核升级的威胁仍旧存在。 来自辞典例句
• Escalation is thus an aspect of deterrence and of crisis management. 因此逐步升级是威慑和危机处理的一个方面。 来自辞典例句

10 semiconductors   

n.半导体( semiconductor的名词复数 )

参考例句：

• Crystals may be insulators, semiconductors, or conductors. 晶体可以是绝缘体，半导体，或导体。 来自辞典例句
• Semiconductors containing such impurities are called p-type semiconductors. 含有这类杂质的半导体叫做P型半导体。 来自辞典例句

11 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

12 viable   

adj.可行的，切实可行的，能活下去的

参考例句：

• The scheme is economically viable.这个计划从经济效益来看是可行的。
• The economy of the country is not viable.这个国家经济是难以维持的。