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Western friendshoring benefits Malaysia amid US-China rivalry, - superadmin - 04-03-2023 Western friendshoring benefits Malaysia amid US-China rivalry, but could hurt global economy: trade minister  A complete decoupling among the superpowers would affect the world economy, says trade minister Tengku Zafrul Aziz Malaysia’s semiconductor industry is expected to continue growing in the short term as US companies look to boost their presence in the country Malaysia may be a short-term beneficiary of Western friendshoring amid the US-China rivalry, but it is not something to “shout about” as a complete decoupling among the superpowers – if realised – would imperil the world economy, trade minister Tengku Zafrul Aziz has said. In an interview with This Week in Asia on the sidelines of last week’s China Conference: Southeast Asia in Singapore, Zafrul said that along with Malaysia, the likes of Thailand and Vietnam were also gaining as the United States and its key partners adopt a policy of favouring friendly countries in building new supply chains that exclude China. “Companies are relocating, reshoring, friendshoring … but in the longer term, I personally believe that any hindrances or obstacles to global trade will not be good for the global economy,” he said. - More -