Recently, Mahathir Mohamad—Malaysia’s Prime Minister—said he would opt to take side with China above the U.S., if his country was asked to take sides in the trade spat, the South China Morning Post stated. Though the 93-Year-old Malaysian prime minister has been a tough critic of Chinese ventures in his home country, he accepted that China is a financial power that offers opportunities. He further said to South China Morning Post, “Malaysia has to believe that China is close to us and it is a gigantic market. We want to advance through China’s rising wealth.” Mahathir told that the Southeast Asian nation will decide how to deal with relations with China separately.
In an interview, in Manila on his official visit Mahathir said, “Well, it also depends on how they act. Presently, the U.S. is very impulsive with the things they do.” Weighing on apprehensions regarding China’s growing power, he said, “China’s attitude is to achieve as much power as possible. But till now China does not seem to wish to form an empire. So we would remain liberated people.” The prime minister reported that China will make use of its financial strength to gain and to grow richer and richer, which is the aim of all countries. “With their affluence, they are going to be in the same place that the Western nations were in the past,” he said.
Speaking of the ongoing trade war, recently, new paper found that trade war has cost $7.8 Billion. The 2018 trade war amid two largest economies globally cost the U.S. economy $7.8 Billion dollars in lost GDP (gross domestic product), as reported by a new paper by a group of economists at Columbia University, UC Berkeley, UCLA, and Yale University. The paper titled, “The Return to Protectionism,” states that President Donald Trump’s trade war with nations like China, in fact, hampered the general American economy, even as the Trump government alleged to be protecting technology, jobs, and intellectual property.