Latest news with #FutureofAsia
Nikkei Asia
10-06-2025
- Business
- Nikkei Asia
AIIB stresses 'inclusive' approach as lender downplays China's sway
TOKYO -- The Asian Infrastructure Investment Bank's doors are "open for any country that wants to join, anytime," the Beijing-headquartered lender's president said in a recent interview, as it continues a nearly decade-long effort to shape an image of a truly multilateral institution. President Jin Liqun, who spoke with Nikkei Asia on the sidelines of the annual Future of Asia conference in Tokyo, stressed that "the bank is inclusive," including when it comes to hiring and contracting projects. As for the membership, he said, everyone is "welcome."
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Business Standard
03-06-2025
- Business
- Business Standard
Ex-Malaysia PM urges stronger Asean ties with China, India to replace US
Former Malaysian Prime Minister Mahathir Mohamad has urged Southeast Asian countries to strengthen trade relations with China and India to bypass steep US tariffs. In an interview with Nikkei Asia, Mahathir said, 'Malaysia should have a bigger trade with China and India to replace the loss of trade against America.' Mahathir was speaking on the sidelines of the Future of Asia forum in Tokyo last week. Mahathir emphasised that trade with China significantly surpasses that with the United States, and noted that there is still potential to further expand trade with India. Asean reels from US tariffs The US, under President Donald Trump, imposed tariffs ranging from 10 per cent to 49 per cent, heavily impacting Asean (Association of Southeast Asian Nations) economies that rely on US exports. Six of the Asean bloc's 10 member states are among the worst affected, likely impacting the Asean's 4.7 per cent growth target for the year. Following Trump's announcement of a 90-day tariff pause last month, several Asean countries - including Malaysia, Indonesia, Thailand, and Vietnam - initiated trade talks with Washington to mitigate the economic fallout. Malaysia calls for regional integration Malaysia's Foreign Minister Mohamad Hassan also called for faster regional economic integration to buffer the effects of global trade disruptions. 'Asean nations are among those most heavily affected by the US-imposed tariffs,' Mohamad said. 'We must seize this moment to deepen regional economic integration; so that we can better shield our region from external shocks.' Asean has responded by intensifying ties with China and the Persian Gulf, including a landmark trilateral summit held in Kuala Lumpur last month. Trade between Asean, China, and the Gulf Cooperation Council (GCC) reached over $900 billion last year — nearly double its $453 billion trade volume with the US, according to Aseanstats. Push for Asean-US dialogue As the current Asean chair, Malaysia has formally requested a special summit with the US to discuss trade issues. Mohamad expressed hope that the meeting would take place later this year. China will be 'No 1 country in the world': Mahathir Mahathir stated that China is on track to become the world's leading power, asserting that the United States lacks the capacity to halt its rise due to growing domestic preoccupations. 'China has been there much longer than the US. I don't think China is going to be easily defeated by the US,' he said. 'I don't think the US will recover and become No 1 again. China looks like it is going to be the No 1 country in the world.'
Nikkei Asia
03-06-2025
- Business
- Nikkei Asia
Mahathir urges ASEAN to trade with China and India to replace US
TOKYO -- Former Malaysian Prime Minister Mahathir Mohammad urged countries in Southeast Asia to deepen their trade relations with China and India amid sweeping U.S. tariffs and Washington's shift toward protectionism. Speaking in an interview with Nikkei Asia on the sidelines of the Future of Asia forum in Tokyo last week, Mahathir said that Malaysia "should have a bigger trade with China and India to replace the loss of trade against America."
Nikkei Asia
03-06-2025
- Business
- Nikkei Asia
Laos president says must lure more countries to invest
TOKYO -- Laos is looking to lure investment from more countries in the face of growing uncertainty over global trade, its president told Nikkei Asia, increasingly turning to nations like the U.S. and its Southeast Asian neighbors as it pushes to diversify beyond traditional partner China. "Laos needs to rebuild its economy and become economically independent," Thongloun Sisoulith said in an exclusive interview last Friday on the sidelines of Nikkei's annual Future of Asia forum.
Nikkei Asia
02-06-2025
- Business
- Nikkei Asia
Trade, environment, change: Highlights of Future of Asia talks
TOKYO -- From trade uncertainties to environmental protection, Nikkei's annual Future of Asia conference held last week in Tokyo underscored a number of critical issues for the region, with experts from a variety of fields and entrepreneurs sharing their concerns and ideas.
