Zeti: Asian economy will stay resilient amid US-China trade war

The Asian economy, including Malaysia, will remain resilient amid the ongoing trade war between the United States and China, said former Bank Negara Malaysia governor Zeti Akhtar Aziz.

Commenting on the latest escalation in the trade conflict, where the US threatened to impose fresh tariffs on another US$200 billion of Chinese goods, she said this kind of global trade war did not benefit anyone.

“But I believe in the resilience of the Asian economy and we will demonstrate the resilience going forward,” she told reporters after the Council of Eminent Persons meeting at Menara Ilham in Kuala Lumpur today.

In the latest spat on the imposition of fresh tariffs by Washington, Beijing has vowed to retaliate.

The US Trade Representative released a new round of proposed tariffs, listing 200 pages of items valued at US$200 billion which included baseball gloves, handbags and digital cameras.

This latest move came just two days after US$34 billion duties in good and services came into effect.

- Bernama