19 June 2019

Tun M’s contradictory opinion on US-China trade wars effect: Didn’t Guan Eng do his research or is he illiterate on the economy?

Following Prime Minister Tun Dr. Mahathir Mohammad’s speech on 17 June 2019 claiming Malaysia to suffer as the innocent victim of US-China trade wars, it shows that, Finance Minister Lim Guan Eng’s encouraging statement on the 7 June 2019 claiming Malaysia will benefit from the trade wars is utter lies!

Delivering a talk titled “Democracy in Malaysia and Southeast Asia” at the Cambridge Union forum on 17 June 2019, Tun Dr Mahathir had claimed during the QnA session, that Malaysia has not done the US any wrong but suffers the fate as an innocent victim in the US-China trade wars. He also claimed that Malaysia and the US are good friends, except with President Donald Trump (POTUS).

On the other hand, Lim Guan Eng published a press statement on 7 June 2019, claiming that Malaysia has benefited from the trade war through trade diversion and business relocation. He also claimed that Nomura, a Japanese financial institution, had recently identified Malaysia as the fourth biggest beneficiary of trade diversion after Vietnam, Taiwan and Chile. The Finance Minister added on saying apart from trade diversion resulting in rising exports, Malaysia will likely benefit from investment diversion that arises from the reconfiguration of the global supply chain.

If Lim Guan Eng does not admit to lying, then Tun Dr. Mahathir must be the one lying. Hence, we request Lim Guan Eng to explain this paradox.

One, a Prime Minister; another, a Finance Minister: Both their statements hold great sway over the Malaysian economy, now that their words are a direct contradiction to each other, the public and the foreign investors really need them to come out and admit their mistake.

I believe the majority of Malaysians would choose to believe the words of Tun Dr. Mahathir rather than Lim Guan Eng, considering how while the former retains a sharp mind at a golden age, the latter has todate been unable to produce proper certification of his accountancy background.

If Lim Guan Eng gave wrong information due to inadequate understanding of the subject, he should admit his mistake and apologise; However, if he deliberately lied through his teeth, an apology would be pointless, as his credibility would have reached rock bottom, considering the previous forged accountancy certificate faux pas.

The Finance Ministry once criticised foreign institutions as irresponsible for evaluating the Malaysian economy poorly; yet now as they laud the current economy as good, it appears to be a blatant mismatch on the reality of the Malaysian economy.

Tan Chee Hiong

MCA Youth Deputy Chairperson

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