Malaysia to have minimal impact from US-China trade war: Bank Negara

KUALA LUMPUR: Malaysia will have a minimal impact from the US-China trade war since the country is a small open economy, says Bank Negara Malaysia (BNM).

However, if the trade war continues to escalate, the whole global economy will be affected and there could be a reduction in global growth by 0.5% by 2020, said BNM Governor Datuk Noor Shamsiah Mohd Yunus.

“But having said that, one of our economy's strengths is that we have a diversified economic structure.

“So, perhaps our exports will be affected by lower global growth but domestic activities will continue to sustain and this will provide a foundation for growth in that kind of scenario,” she said in a press conference after announcing the Gross Domestic Product (GDP) for the second quarter of 2018 here today. — Bernama

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