Key Takeaways from APAC Summit with Minister Fu

Main Themes

• Importance of collaboration among APAC member economies
  • Deepen relationships in investment and trade
  • Focus on integration and multilateralism
• Concerns about economic trajectories of certain economies

Goals for Growth

• Ensure growth is:
  • Inclusive
  • Sustainable
  • Resilient
• Importance of supporting SMEs, micro SMEs, women, and youth entrepreneurs

Impact of U.S. Elections

• Discussions on potential implications of the election of Donald Trump
  • Concerns over possible tariffs
  • Influence on global trade dynamics, especially between the US and China

Economic Statistics

• APAC economies comprise:
  • 3 billion people
  • 60% of global GDP
  • 50% of global trade
• Critical roles of the US and China in global economy

Market Responses

• Companies are proactively realigning their supply chains
  • Focus on resilience and security
  • Preference for regions with multiple FTAs

China's Influence

• Increased presence of China in global markets
• Perception of lower US presence compared to China
• Engagement with Chinese companies and economy

Impact on Malaysia and ASEAN

• Short-term benefits from US-China tensions
  • Increase in FDI inflows to ASEAN, particularly Malaysia
• Long-term concerns about global economic slowdown
  • Potential for higher consumer prices

Conclusion

• Global economic relations are shifting
• Key focus on ensuring sustainable and inclusive growth amidst geopolitical changes