KUALA LUMPUR, Aug 8 — A strong Malaysia-China economic relationship is expected to help the country face and overcome the adverse effects of a US recession, said Capital Dynamics Asset Management Sdn Bhd.
Its managing director, Tan Teng Boo, said China is set to introduce aggressive policies to shore up its economy on the back of the latest development in the country and the US, helping to cushion the impacts of a possible global recession.
Therefore, he believed Malaysia’s economy would still grow relatively better than other countries due to its links with China.
Tan also said that Bursa Malaysia’s FBM KLCI would be able to end the year at the 1,600 level and the ringgit between 4.40 to 4.50 level, as US recession risks are set to induce monetary policy change in the world’s largest economy.
“China has always been an important country to the world and to Malaysia, not just for businesses and investments but also for the nation’s economy and foreign policies,” he told reporters during a media conference today. — Bernama
