Trump 2.0 can boost Malaysia-US economic, security relations - Analysts

KUALA LUMPUR - Donald Trump's victory in the US presidential election is seen as potentially strengthening US’ relations with Malaysia, especially in economic and security aspects.

Universiti Malaya Security and International Relations Analyst Collins Chong Yew Keat said Trump's oft-criticised "America First" approach may actually open up greater economic opportunities for Malaysia with a more transactional policy adjustment.

"We may see an increase in Trump's flexibility in this second term, with a focus on direct negotiations with major powers, such as China and Russia. This gives Malaysia an opportunity to strengthen its position in trade and maritime security.

"America is the world's largest economy, and this economic strength helps global stability. With Trump back, we may see a low unemployment rate and a surge in the stock market, which is good for the world economy," he said in an interview on Bernama TV's Ruang Bicara programme on Monday.

He said although many people are worried about the impact of high tariffs by Trump, Malaysia may be able to overcome this challenge through closer coordination and consultation with the US.

Chong added that Trump's policy of wanting to increase the US' role in international maritime security is seen as an important factor for Malaysia, a country that relies heavily on trade routes in the South China Sea.

In terms of regional security, he thinks the defence cooperation between Malaysia and the US will probably strengthen under Trump.

"The security of maritime trade routes is essential to the stability of the world economy, and the US plays a large role in maintaining these international rules.

"I expect Trump will continue to prioritise an effective deterrent approach, especially in issues related to the South China Sea. This opens up an opportunity for Malaysia to gain greater security support from the US," he said.

Commenting further, Senior Associate Fellow of the Economic and Financial Policy Institute, Universiti Utara Malaysia, Associate Prof Dr Irwan Shah Zainal Abidin, said Trump's main objective is to make the US economy more sustainable and globally competitive.

According to him, despite challenges in terms of international politics, Trump has the potential to strengthen economic relations with Asian countries, including Malaysia, through more transparent and transactional cooperation.

He explained that this is because Trump is seen as more inclined to a pro-business approach and sees steps to resolving global conflicts, such as the ones in Ukraine and the Middle East, as a prerequisite for a more stable US economic growth.

"We have to be fair because during the (Joe) Biden era, the world had just come out of the pandemic. Many economic issues such as unemployment and the high cost of living are a post-pandemic global phenomenon," he said.

Trump won a landslide victory over Democratic candidate Kamala Harris in the Nov 5 presidential election. The victory also made him the first Republican candidate to win the popular vote in two decades.

Trump will be sworn in as the 47th president of the United States on Jan 20 next year. - BERNAMA