{"id":7675,"date":"2025-02-14T15:34:19","date_gmt":"2025-02-14T07:34:19","guid":{"rendered":"https:\/\/x-press.my\/?p=7675"},"modified":"2025-02-14T15:34:22","modified_gmt":"2025-02-14T07:34:22","slug":"aseans-economic-future-not-a-decline-but-a-strategic-realignment-led-by-malaysia","status":"publish","type":"post","link":"https:\/\/x-press.my\/?p=7675","title":{"rendered":"ASEAN\u2019s Economic Future: Not a Decline, But a Strategic Realignment Led by Malaysia"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Western analysts often paint a pessimistic picture of ASEAN\u2019s economic trajectory. Henny Sender\u2019s recent article, \u201cASEAN\u2019s Tiger Economies Have Lost Their Roar,\u201d is a prime example\u2014arguing that China\u2019s manufacturing dominance, global supply chain realignment, and high U.S. interest rates have eroded ASEAN\u2019s competitiveness.<\/p>\n\n\n\n<p>However, this perspective grossly underestimates ASEAN\u2019s economic resilience and, more importantly, ignores Malaysia\u2019s pivotal role in reshaping global supply chains. If ASEAN is adjusting its course in the global economy, Malaysia is in the captain\u2019s seat\u2014positioning the region for a new era of economic influence.<\/p>\n\n\n\n<p>ASEAN Is Not \u201cLosing Its Roar\u201d\u2014It Is Strategically Recalibrating<\/p>\n\n\n\n<p>ASEAN is not a passive observer in global economic shifts. As the 2025 ASEAN Chair, Malaysia has the unique opportunity to redefine regional economic leadership and global positioning.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>ASEAN\u2019s Supply Chain Evolution: An Upgrade, Not a Replacement<br>\u2022 Global giants\u2014including Apple, Samsung, BYD, CATL, and Foxconn\u2014are expanding their ASEAN footprint, not because China is failing, but because ASEAN has become the biggest winner of the \u201cChina+1\u201d strategy.<br>\u2022 Malaysia\u2019s semiconductor industry is a linchpin of the global supply chain. ASEAN\u2019s regional division of labor is already well-defined:<br>\u2022 Thailand leads in automotive manufacturing.<br>\u2022 Vietnam is a key electronics assembly hub.<br>\u2022 Indonesia dominates nickel and battery supply chains.<br>\u2022 Malaysia is the regional high-tech manufacturing and semiconductor leader.<br>\u2022 In 2023 alone, ASEAN attracted over $150 billion in foreign direct investment (FDI)\u2014outpacing India, Latin America, and Africa.<\/li>\n\n\n\n<li>ASEAN Is Not Under Pressure from China\u2014China Is Becoming More Dependent on ASEAN<br>\u2022 Henny Sender claims ASEAN is struggling under China\u2019s competition. The reality is the opposite\u2014China is increasingly reliant on ASEAN markets.<br>\u2022 In 2024, Chinese investment in ASEAN surged over 30%, particularly in EV production, battery technology, and digital finance. Companies like BYD and NIO are setting up production hubs in ASEAN, confirming the region\u2019s status as a new global manufacturing destination.<br>\u2022 China\u2019s trade dependence on ASEAN has reached an all-time high of 24% (2024), surpassing its reliance on the U.S., Japan, and the EU.<\/li>\n\n\n\n<li>ASEAN\u2019s Economic Challenges Have Solutions Already in Motion<br>\u2022 Thailand\u2019s auto sector may be experiencing short-term headwinds, but Malaysia is already positioning itself as ASEAN\u2019s EV (electric vehicle) supply chain leader. The Johor-Singapore Special Economic Zone (JS-SEZ) and Malaysia-Singapore Joint Technology Park are attracting high-end manufacturing investments.<br>\u2022 Indonesia\u2019s growth may have slowed, but its nickel reserves are critical to the global EV battery market, making it indispensable in the clean energy transition.<br>\u2022 ASEAN\u2019s financial integration is accelerating. The upcoming ASEAN Digital Payments Interconnectivity Initiative (2025) will revolutionize cross-border transactions, strengthening regional trade dynamics.<\/li>\n<\/ol>\n\n\n\n<p>Malaysia\u2019s Role in ASEAN\u2019s Economic Renaissance: Anwar\u2019s Three-Pillar Strategy<\/p>\n\n\n\n<p>As the 2025 ASEAN Chair, Malaysia must not only lead ASEAN\u2019s collective economic revival but also secure its position as the driving force behind it. Here are three strategic imperatives for Anwar Ibrahim\u2019s administration:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Johor-Singapore Special Economic Zone (JS-SEZ): ASEAN\u2019s \u201cShenzhen-Hong Kong\u201d Model<br>\u2022 Malaysia and Singapore must deepen industrial integration, with JS-SEZ serving as the primary hub for global investment.<br>\u2022 Target: Attract at least $20 billion in new manufacturing investments by 2026, creating ASEAN\u2019s largest cross-border industrial supply chain.<\/li>\n\n\n\n<li>ASEAN-GCC Energy Investment Fund: Mobilizing Middle Eastern Capital into ASEAN\u2019s Economy<br>\u2022 At the 2025 ASEAN Summit, Malaysia should champion the creation of an \u201cASEAN-GCC Energy Investment Fund\u201d to channel Saudi and UAE capital into ASEAN\u2019s renewable energy, infrastructure, and industrial sectors.<br>\u2022 Target: Secure at least $50 billion in Middle Eastern investments into ASEAN markets by 2026.<\/li>\n\n\n\n<li>ASEAN Semiconductor Supply Chain Alliance: Strengthening ASEAN\u2019s Position in the Global Chip Industry<br>\u2022 Malaysia must lead ASEAN\u2019s semiconductor supply chain development, working alongside Thailand, Vietnam, and Indonesia to reduce dependence on the U.S. and China.<br>\u2022 Target: Establish an ASEAN Semiconductor Cooperation Agreement at the 2025 ASEAN Summit and develop a regional chip manufacturing hub by 2027.<\/li>\n<\/ol>\n\n\n\n<p>Conclusion: ASEAN\u2019s Future Is Malaysia\u2019s Opportunity<\/p>\n\n\n\n<p>Henny Sender\u2019s article reflects a classic Western \u201cpessimism bias\u201d\u2014focusing on ASEAN\u2019s challenges while ignoring the region\u2019s ability to capitalize on supply chain shifts and industrial transformation.<\/p>\n\n\n\n<p>The reality is that ASEAN\u2019s economy is not \u201closing its roar.\u201d It is evolving into a more precise, high-value, and sustainable growth model. As ASEAN\u2019s 2025 Chair, Malaysia is uniquely positioned to lead this transformation.<\/p>\n\n\n\n<p>Malaysia must be ASEAN\u2019s economic leader\u2014not a follower. This is not just about national interests; it is about how Anwar Ibrahim\u2019s administration can demonstrate economic leadership ahead of the 2026 general elections.<\/p>\n\n\n\n<p>In 2025, the world will be watching ASEAN. And ASEAN\u2019s direction will be determined by Malaysia\u2019s leadership. &#8211; 14\/2\/2025 &#8211; <strong>By Phar Kim Beng and CW Sim<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Western analysts often paint a pessimistic picture of ASEAN\u2019s economic trajectory. Henny Sender\u2019s recent article, \u201cASEAN\u2019s Tiger Economies Have Lost Their Roar,\u201d is a prime example\u2014arguing that China\u2019s manufacturing dominance, global supply chain realignment, and high U.S. interest rates have eroded ASEAN\u2019s competitiveness. However, this perspective grossly underestimates ASEAN\u2019s economic resilience and, more importantly, ignores [&#8230;]\n","protected":false},"author":1,"featured_media":7676,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[102],"tags":[],"class_list":["post-7675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-suara-pembaca"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/x-press.my\/index.php?rest_route=\/wp\/v2\/posts\/7675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/x-press.my\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/x-press.my\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/x-press.my\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/x-press.my\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7675"}],"version-history":[{"count":1,"href":"https:\/\/x-press.my\/index.php?rest_route=\/wp\/v2\/posts\/7675\/revisions"}],"predecessor-version":[{"id":7677,"href":"https:\/\/x-press.my\/index.php?rest_route=\/wp\/v2\/posts\/7675\/revisions\/7677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/x-press.my\/index.php?rest_route=\/wp\/v2\/media\/7676"}],"wp:attachment":[{"href":"https:\/\/x-press.my\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/x-press.my\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/x-press.my\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}