Malaysia in Changing Geopolitical Economy: Navigating Great Power Competition between China and the United States

Chin, Kok Fay

doi:10.1080/10971475.2022.2136697

Cited by 5 publications

(3 citation statements)

References 13 publications

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“…In order to prevent dissatisfaction from the United States and reduce economic dependence on China, Mahathir also chose to re-examine economic cooperation with China through MRL, thereby sending an essential signal to the United States and the world that Malaysia's close cooperation with China is only for economic development. Malaysia will adhere to the neutrality of its foreign policy instead of taking sides, Malaysia will participate in the governance of significant global political affairs with ASEAN (Moeller, 2019;Chin, 2023).…”

Section: Transformation Period Of Mrl (2018-2020)mentioning

confidence: 99%

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Xinlei

2024

Preprint

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Existing research on how small (weak) states respond to the geopolitical rivalry of great powers often centers around the hedging strategy, where small states tend to maintain their diplomatic independence by taking non-explicit sides and stances to better safeguard their security and interests in the face of increasing external uncertainty. This paper, however, provides another powerful way of explaining this from the perspective of non-state actors through the changing attitudes and strategies of the Malaysian Rail Link (MRL) in the Malaysia-China East Coast Rail Link (ECRL) project. This paper shows that due to the unique nature of firms, small state firms will choose to respond to external great power games with economic hedging, and performance legitimization and particularistic legitimization determine the strength of small states' economic hedging and when firms and the governments they represent choose performance as a way to enhance legitimacy, small state firms will choose to use economic soft hedging as their primary mode of response. Conversely, economic complex hedging is more pronounced when particularistic legitimization is used to enhance legitimacy. The findings of this paper also demonstrate that small state firms have a complex connection with the government. On the one hand, small state firms are the implement and influential representatives of the ruling government's foreign policy, inheriting the government's essential interest pursuits and expectations. On the other hand, the enterprise itself is also a vital interest organization. It will also formulate economic policy according to its own needs. However, the MRL shows that the Malaysian government firmly controls the tiny state firms and is an important tool and instrument for the foreign economic game of the small state government.

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Section: Transformation Period Of Mrl (2018-2020)mentioning

confidence: 99%

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Xinlei

2024

Preprint

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“…Consequently, it becomes crucial to prioritise regional unity to ensure a cohesive and effective response to the escalating strategic competition between the U.S. and China. The question that remains is whether leaders from Malaysia and other ASEAN nations can collaborate closely and assume the necessary roles to navigate the unpredictable and heightened rivalry between the United States and China (Chin, 2023). There perhaps should be a tactical recalibration in Malaysia's foreign policy, transitioning from the erstwhile Asia-Pacific paradigm to the current Indo-Pacific construct.…”

Section: Ii) Decoding Malaysia's Hedging Strategy As a Regional Middl...mentioning

confidence: 99%

Sino-Us Strategic Competition in the Indo-Pacific: Exploring Responses From Malaysia and Indonesia

Khalid,

Mat

2024

JIS

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The Indo-Pacific region has emerged as a significant global focal point due to the increasing influence exerted by China and the UnitedStates. In light of the dynamic nature of the global geopolitical landscape, Malaysia and Indonesia, as two prominent Southeast Asianstates, find themselves at the nexus of this competition. China and the United States are two regional superpowers which have strategically positioned themselves in the Indo-Pacific. A systematic literature review was conducted to examine the crucial role of Indonesia and Malaysia in the context of the escalating Sino-US strategic competition in the Indo-Pacific region. By focusing on research articles, books and reports, this work explored the policy and strategic outlook, methodological approaches and methods underpinning Indo-Pacific discourse in Indonesia and Malaysia. The methodology adopted for this review was systematic by following the seven stages suggested by Petticrew and Roberts (2008). This review’s findings indicated the diverse range of theories, methodologies, practical strategies, and approaches that scholars have employed in examining the roles of Indonesia and Malaysia in the Indo-Pacific region. Consequently, this paper broadens the scope for scholars by expounding upon the strategic outlook of Indonesia and Malaysia within the Indo-Pacific discourse, along with the various methodological and theoretical frameworks and conceptual models that may inform future research endeavours. This study was however, limited to gathering input from journal articles, books, book chapters, and reports, and excluding other sources such as conference papers and op-eds. Furthermore, thescope of studies accessed was limited to data available from 2013 to September 2023.

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“…For example, the new Pakatan Harapan government has adopted moderately ambitious fiscal policies that presuppose oil price recovery will continue (Latif et al, 2021). The Russian invasion of Ukraine has similarly had a profound impact, extending beyond the immediate conflict, with oil prices surging past thresholds and prompting speculation about the possibility of revising fuel subsidies in Malaysia (Chin, 2022). Given the significant role that oil plays in global economic activity, the repercussions of oil price instability on economic expansion continue to be widely studied (Chien et al, 2021; Ike et al, 2020; Li & Leung, 2021; Murshed & Tanha, 2021; Qin et al, 2020) as the impact of oil price shocks can vary across different countries, depending on various factors, including sectoral makeup, import/export status, and tax structures.…”

Section: Introductionmentioning

confidence: 99%

Dynamic connection between energy prices, Malaysia's economic growth, and ecological footprint: An evidence from Morlet wavelet approach

Razi,

Afshan,

Cheong

et al. 2023

Geological Journal

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Using the Morlet Wavelet approach and other time‐frequency decomposition techniques, this study investigates the dynamic relationship between energy prices, economic growth, and ecological footprint in Malaysia from 1975 to 2021. Our analysis reveals several key findings. Firstly, despite the absence of oil price volatility, the size of Malaysia's ecological footprint varies significantly over the study period. Secondly, energy prices contribute significantly to the ecological footprint. Thirdly, the association between energy prices and ecological footprint is stronger during periods of economic growth. Lastly, energy prices contribute to economic growth and inflation in the short run, but after factoring in the ecological footprint, the association extends into the long run. These findings suggest that Malaysia's economic growth is driven not only by energy prices but also by its ecological footprint. Moreover, the size of Malaysia's ecological footprint is driven by factors at the microeconomic level rather than energy prices alone. Therefore, the impact of energy prices on the macroeconomy, especially when considering the impact on the environment, is non‐linear.

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Malaysia in Changing Geopolitical Economy: Navigating Great Power Competition between China and the United States

Cited by 5 publications

References 13 publications

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Economic Hedging by Small-State Firms in Great Power Strategic Competition: The Case of Malaysian Rail Link (MRL) (2013-2020)

Sino-Us Strategic Competition in the Indo-Pacific: Exploring Responses From Malaysia and Indonesia

Dynamic connection between energy prices, Malaysia's economic growth, and ecological footprint: An evidence from Morlet wavelet approach

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