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Malaysia, Asean to benefit most from China s new economic strategies

Momentous meeting: China’s top political advisory body wrapped up its annual session recently. Xinhua CHINA’s most important meetings of the year – “Two Sessions” – have unveiled Beijing’s medium- and long-term economic goals and strategies that experts believe will not only boost China’s quality development and modernisation but will also benefit the world, in particular Asean. As Malaysia is part of the 10-nation Asean, China’s biggest trading partner, it will gain from Beijing’s strategies as long as Putrajaya continues to embrace foreign policies deemed as friendly – or at least non-toxic – towards Beijing. The “Two Sessions” or Lianghui refers to the annual meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC).

HSR project: Not the end of the line

Many U-turns: The KL-SG HSR booth at the Malaysian International Trade Exhibition Centre in 2017. The project has undergone a series of amended decisions under different governments. THE Kuala Lumpur-Singapore High Speed Rail (HSR) bilateral agreement was officially terminated after the top leaders of Malaysia and Singapore agreed to let the deal lapse on New Year’s Eve, but this mega project may not be dead and forgotten. In fact, this economically significant rail project may be revived once Malaysia sorts out its economic predicament brought about by the Covid-19 pandemic and political chaos. Touted as a possible major game-changer for Malaysia and Singapore, voices against the project cancellation are unlikely to subside as the financial interests of many private groups and the two economies will be affected.

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