TRADE WARS, TARIFFS AND SANCTIONS WEAPONISED IN BROADER STRUGGLE FOR DOMINANCE -- PM ANWAR

KUALA LUMPUR, March 14 (Bernama) -- Trade wars, tariffs and sanctions have been transformed from economic tools into weapons in a broader struggle for dominance, fostering an atmosphere of suspicion and distrust that is eroding the foundations of international cooperation, according to Datuk Seri Anwar Ibrahim.

The Prime Minister said countries that long viewed others as partners or competitors in a global marketplace now see only adversaries or proxies in a global contest for influence and dominance.

As the competition between the United States and China disrupts economies, technologies and alliances around the world, smaller and midsize countries are often forced to pick sides or risk becoming pawns in a larger geopolitical game, he said.

“As a new world order takes shape, we must also be mindful of the growing challenges facing countries across the Global South. Many of the mechanisms that once drove their development are weakening, while the very concept of development aid is coming under intense scrutiny from some of the world’s most powerful countries. 

“Economic interdependence, once the cornerstone of global prosperity, has now become a source of tension. If this trend continues, interconnectedness could ultimately become a vulnerability, even for countries that have long flourished under globalisation,” he said in his commentary titled “The Global South Path's to Economic Resilience” published on the Project Syndicate website today.

As a country that relies on international trade, the Prime Minister said, Malaysia recognises that the crosswinds of uncertainty and protectionism make it more important than ever to remain adaptive and ambitious. 

“But we will not lose sight of our paramount goal: sustainable, inclusive, and equitable growth. We are also determined to solidify our position as a vital nexus of trade, investment, and technological innovation," he added.

For these reasons, Malaysia made the strategic decision to join the BRICS group of major emerging economies, Anwar said. 

He said its pursuit of BRICS membership advances the goal of narrowing the development disparities between the Global South and Global North.

“Contrary to some pundits’ claims, our decision was not about taking sides in the Sino-American rivalry. On the contrary, it reflects a clear-eyed understanding of the shifting geopolitical and geoeconomic landscape in which we operate.

“By engaging with rival power blocs and creating a diverse array of viable economic opportunities, middle powers like Malaysia can pave the way for lasting peace and prosperity for their citizens in the Global South. For us, that remains a critical goal and urgent priority,” he added.

Project Syndicate is an international nonprofit media organisation that published and syndicates commentary and analysis on a variety of global topics by world’s leading thinkers, policymakers and civic activists.

-- BERNAMA