RESILIENCE BEGINS WITH RIGHT POLICIES -- PM ANWAR

By Saraswathi Muniappan

JOHANNESBURG, Nov 22 (Bernama) -- Countries can withstand global shocks only when their policies are sound, aligned and ready for stress, Prime Minister Datuk Seri Anwar Ibrahim said.

He said that as the ASEAN Chair this year, Malaysia has seen firsthand that resilience is not an accident but the result of deliberate choices and clear rules that help nations absorb volatility.

“Working with our Southeast Asian neighbours to navigate tariff shocks, supply-chain pressures and rapid technological developments. We have found that when policies are aligned and rules are predictable, shocks pass through with less damage.

“The lesson is clear, (that) resilience comes from common preparedness, not isolation,” he said this during Session 1 of the G20 Leaders Summit, titled “Inclusive and Sustainable Economic Growth Leaving No One Behind: Building Our Economies; the Role of Trade; Financing for Development; and the Debt Burden” here, today.

Anwar, who is also the Finance Minister, said the lesson matters because the next disruption will likely be harder to contain. 

“Artificial intelligence (AI) will reorganise labour markets at a pace our institutions will struggle to match.

“Without early investment in transitions, workers, especially the young, will face these shifts alone,” he said.

Anwar said history has shown the consequences of societies being unprepared for globalisation — stagnant wages, eroded trust and the rise of politics that feed on grievance.

“With AI, destabilisation becomes a real risk if countries enter this transition unprepared. This will be one of the defining challenges of our times,” he said.

Anwar said that to face the challenges, countries must first equip their people, especially the youth, to keep pace with technological change.

“Opportunities for training and credible safety nets are essential, (while) small and medium-sized firms, which carry much of the employment burden, will (also) need support.”

Secondly, Anwar said it is vital to ensure trade remains open and predictable. 

“In Southeast Asia, we are doubling down on international trade. We have seen that connected markets and clear, stable rules strengthen supply chains and give firms the confidence to invest,” he said.

The region has therefore moved quickly on the ASEAN Digital Economy Framework Agreement, which will set common standards for data, payments and digital trade, he added.

Thirdly, Anwar said global resilience cannot be built on fiscal exhaustion and noted that many developing economies now spend more on servicing debt than on education or investment. 

“Countries need the capacity to invest ahead of disruption, not after. Multilateral development banks must be ready to deploy more quickly and work closely with countries to support the investments that build resilience.

“Malaysia is therefore ready to work with all partners to meet this common challenge and to help sustain an open, predictable global economy that gives our people a fair chance to thrive,” he said.

Also present were Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz and Foreign Affairs Ministry Secretary-General Datuk Seri Amran Mohamed Zin.

This marks Anwar’s second participation in the G20 Leaders Summit as a guest country.  The first was in Brazil last year.

South African President Cyril Ramaphosa extended this year’s invitation to Malaysia in its capacity as ASEAN Chair for 2025.

Later, Anwar will deliver Malaysia’s statement in Session 2, titled “A Resilient World — the G20’s Contribution: Disaster Risk Reduction; Climate Change; Just Energy Transitions; Food Systems”.

Following his address in Session 2, the Prime Minister will attend the G20 Leaders’ Dinner hosted by Ramaphosa at the NASREC Expo Centre.

-- BERNAMA