Anwar S De Dollarisation Will It Hurt Malaysia



Dedollarisation is a process of substituting US dollar as the currency used for (i) trading oil and/or other commodities, (ii) buying US dollars for the forex reserves, (iii) bilateral trade agreements, and (iv) dollar-denominated assets.
Mont Kiara, April 12: The RM170 b worth of MOU Malaysia signed with China during Anwar Ibrahim’s state visit recently is “historic” not just because of the potential investment involved but also for marking the start of Anwar Ibrahim’s dedollarisation policy for Malaysia. 
The Prime Minister made his pursuit for dedollarisation quite clear when he told Parliament on April 4, a few days after his return from Beijing, that There is no need to continue depending on US dollar for investment.
The problem with many Malaysians, even the smarter ones, is that we are so obsessed with disputing our own Prime Minister’s claim that, just four months into his premiership, the country could actually attract that much investment potential. “Ah, those are just MOU” was the detractor’s favourite comeback line. (For context, read my first posting on the China visit here). 
The “bigger story”, as one analyst who resides in the US told me, is that China is pushing its own currency as Asia’s “reserves”. And that with the RM170 b trade deal with China, Anwar has started to steer Malaysia away from the US-D!
 Elsewhere, Anwar’s dedollarisation has not escaped notice. Because eslewehere in the world, dedollarisatio is taking shape. In its report Countries worldwide are dropping the US dollar: De-dollarsisation in CHina, Russia, Brazil and Asean the independent geopolitialeconomy.com noted how Malaysia is “publicly advocating dedollarisation”.

Malaysia’s Prime Minister Anwar Ibrahim met with Chinese President Xi in Beijing on March 31, where the two leaders discussed plans to weaken US dollar hegemony and even create an “Asian Monetary Fund”.
This is a frontal challenge to the US-dominated International Monetary Fund (IMF), which emerged from the 1944 Bretton Woods Conference that established the dollar as the global reserve currency.
Anwar proposed the Asian Monetary Fund at the Boao Forum in China’s Hainan province.
“There is no reason for Malaysia to continue depending on the dollar”, Anwar said, in comments reported by Bloomberg.
The media outlet added that Malaysia’s central bank is developing a payment mechanism so the Southeast Asian country can trade with China using its own currency, the ringgit.
ASEAN has also been talking about their predicament in relations to the US dollar. While Anwar was in China, the grouping’s finance ministers met in Bali and they talked about dumping the greenback. “We must remember the sanctions imposed by the US on Russia,” President Jokowi of Indonesia was quoted as saying. (Read Asean countries take steps to reduce reliance on US dollar),
However, an ASEAN consensus is not quite guarantee. As in the past (for example, when Tun Dr Mahathir Mohamad was advocating the East Asia Economic Group, later Caucus, idea), Singapore could be the dissenting voice. Understandably so, as Singapore is the only economy in the region that could be adversely affected by this policy, the analyst added.
“Singapore’s status as the financial centre of Southeast Asia has historically been closely tied to its connections with the West and their capital, technology and values. However, as China’s influence in the region grows and its currency gains prominence, Singapore could face significant challenges in maintaining its position,” he said.
But how is that good for Malaysia? 
How dedollarisation will benefit us is a national conversation that the Anwar Administration needs to initiate in haste. Right now, information is at best trickling out of the government’s communication apparatus. Wisma Putra is quiet on the matter; in the past, it would be its responsibility to take the lead. MITI has been rather shy, too, except for its Minister Tengku Zafrul Aziz’s commitment to ensure that the RM170 b MOU will be converted into contracts and jobs.
So far, Anwar is walking the talk. What is the rest of his Cabinet doing?
The media need to have a solid grasp on the matter in order to argue the idea of dedollarisation and the setting up of the Asian Monetary Fund. The financial and economic experts must help break down  the mechanics of this policy so that enterprises are aware of the opportunities that they may seize. The ordinary folk also want to know how this will improve their purchasing power and quality of life.



Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://www.rockybru.com.my/2023/04/anwars-de-dollarisation-will-it-hurt.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Commentary The Politics Of Malaysia Pm Anwar S Trips To Saudi Arabia And China

Commentary The Politics Of Malaysia Pm Anwar S Trips To Saudi Arabia And China

papar berkaitan - pada 4/4/2023 - jumlah : 398 hits
No amount of positive coverage from Malaysia PM Anwar s trip to China will change perceptions that he was intentionally snubbed by Saudi leadership during a recent trip says CNA s Leslie Lopez Leslie Lopez Channel News Asia Malaysian Prime ...
Malaysia Will Not Boycott 2024 Olympics In Paris

Malaysia Will Not Boycott 2024 Olympics In Paris

papar berkaitan - pada 8/4/2023 - jumlah : 235 hits
Minister Hannah Yeoh said the Road to Gold committee had decided not to follow other countries like the US and Australia in boycotting the 2024 Olympics PETALING JAYA Malaysia is not planning to boycott the 2024 Olympic Games in Paris and w...
Anwar If Dr M Wants Proof I Will Give It

Anwar If Dr M Wants Proof I Will Give It

papar berkaitan - pada 7/4/2023 - jumlah : 493 hits
Prime Minister Anwar Ibrahim has no qualms about providing evidence to Dr Mahathir Mohamad to prove that the former premier had amassed wealth to enrich himself when he was in power This comes after Mahathir served Anwar a on March 27 deman...
Anwar I Will Be Part Of Pardons Board Panel To Decide On Najib S Fate

Anwar I Will Be Part Of Pardons Board Panel To Decide On Najib S Fate

papar berkaitan - pada 8/4/2023 - jumlah : 355 hits
Prime Minister Datuk Seri Anwar Ibrahim will be part of the Pardons Board panel to decide on former premier Datuk Seri Najib Razak s request for a royal pardon Anwar also said that any individual can apply for a pardon in Malaysia and it wi...
Will Zahid Drag Anwar Down

Will Zahid Drag Anwar Down

papar berkaitan - pada 3/4/2023 - jumlah : 274 hits
Dennis Ignatius Prime Minister Anwar Ibrahim and his deputy Zahid Hamidi don t seem to share the same priorities Anwar is constantly emphasizing good governance accountability and the importance of political stability Zahid on the other han...
Beri Saya Beberapa Tahun Malaysia Akan Semarak Semula Sebagai Suara Raksasa Janji Pm Anwar

Beri Saya Beberapa Tahun Malaysia Akan Semarak Semula Sebagai Suara Raksasa Janji Pm Anwar

papar berkaitan - pada 15/4/2023 - jumlah : 258 hits
nbsp Perdana Menteri Datuk Seri Anwar Ibrahim meminta rakyat Malaysia memberikan tempoh kepada Kerajaan Perpaduan pimpinannya beberapa tahun dalam membuktikan pembentukan tatakelola pentadbiran yang baik selain menghapuskan amalan sakau men...
China An Important Trade Partner For Malaysia Says Anwar

China An Important Trade Partner For Malaysia Says Anwar

papar berkaitan - pada 31/3/2023 - jumlah : 336 hits
BEIJING Prime Minister Datuk Seri Anwar Ibrahim says his visit to China this week is a manifestation of the country s importance to Malaysia in various aspects especially trade He said China was important not only as a neighbour with a clos...
Malaysia Not Completely Free From Risk Of Quakes Says Ministry

Malaysia Not Completely Free From Risk Of Quakes Says Ministry

papar berkaitan - pada 18/4/2023 - jumlah : 308 hits
Bottles cans and snack food packets were strewn on the floor of a supermarket in Kota Belud Sabah following a 5 2 magnitude earthquake on March 8 2018 KUALA LUMPUR Malaysia is not completely free from the risk of earthquakes says the natura...
Legoland Malaysia S Summer Carnival Is Back With A Splash For A Third Year

Igp Malaysia Risks Becoming Terror Transit Hub As Is Linked Bangladeshis Recruit Migrant Workers Via Social Media

No Formal Protests Over Malaysia S Naturalised Players Says Afc

Buat Paper Bag Sendiri Untuk Produk Event Anda Bersama Mosumart Design

Satelit Berteknologi Ai Yang Beresolusi Tinggi Kesan Pencerobohan Tanah Hutan Di Pahang Menjelang 2027

Terima Kasih Untuk 13 Juta Pageviews Blog

Putra Heights Gas Pipeline Fire Mca Calls For Rci Says Residents Deserve The Truth

Sejarah Perang Mu Tah Sebab Terjadi Jalannya Pertempuran Dan Kemenangan Kaum Muslimin


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Tkbpg 3 November Tkbpg Top 5 By Octavio

Osmanthus In Bloom Minuman Baharu Kenangan Coffee Yang Beraroma Eksklusif

Untuk Hati Yang Sedang Letih

Penerbangan Terkejut Boeing 737 Menurun 26 000 Kaki Dalam 10 Minit

Kementerian Peralihan Tenaga Dan Transformasi Air Luluskan 38 Projek Air Rm5 9 Bilion Di Pahang

Cafa Nations Cup 2025 Senarai Pasukan Pemain Malaysia