Latest news with #JeffreySachs
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Asean's balancing act in an era of US-China rivalry
Key themes discussed by Asean leaders at the bloc's 46th summit in Kuala Lumpur last month included regional resilience and strategic diversification. (Bernama pic) PETALING JAYA : As US-China geopolitical tensions escalate across multiple fronts, from tariffs to technology disputes, Asean finds itself navigating the complexities of balancing its ties with the world's two largest economies. The 10-member bloc depends on US investments and access to Western markets, while China, its top trading partner, has become deeply embedded in its supply chains. Denis Hew. Denis Hew, senior fellow at the Lee Kuan Yew School of Public Policy, said Asean's ability to stay neutral is shrinking fast, with China's economic reach across Southeast Asia constantly growing. 'The US is becoming more protectionist, but it's gone beyond that. It's beginning to undermine the existing economic order,' he said, pointing to the weakening of institutions such as the World Trade Organization (WTO) and the UN. 'China's trade and production linkages with Asean have grown significantly, making the relationship an important part of the region's economic landscape.' He warned that without stronger internal cohesion, Asean risks being shaped more by outside powers than its own priorities. Navigating a shifting global order Economist Jeffrey Sachs, a professor at Columbia University, said the global order is shifting towards multipolarity, with Asia coming to the fore after a long era of Western dominance. Jeffrey Sachs. He said Asean should resist the pressure to pick sides, and that global powers must learn to work with the 10-nation bloc and other similar groupings around the world. Tricia Yeoh of the University of Nottingham Malaysia said Asean must rethink how it engages with the US, especially in the light of Washington's inconsistent approach to the region. It should also not rely too much on China, she added. Tricia Yeoh. Yeoh said Asean must build broader ties with regions such as the EU, Latin America and Africa. 'These global ties will strengthen Asean's resilience in the face of growing conflict and deepening uncertainty—not just in economics and trade, but also in security and cultural spheres,' she said. Diversifying through strategic summits Asean, for its part, is trying to avoid being boxed in. The regional bloc recently held its first Asean-Gulf Cooperation Council-China Summit, aimed at strengthening trade and connectivity. This trilateral push reflects Asean's strategy to avoid dependence on any one power and instead anchor stability through a broad web of partnerships. However, this strategy of non-alignment is not something new. As far back as in 1970, Malaysia, then under prime minister Abdul Razak Hussein, led efforts to promote Asean's neutrality. The Zone of Peace, Freedom and Neutrality (Zopfan), was formalised two years later, affirming Asean's commitment to remain free from external interference amid the ongoing Cold War tensions. Sachs said Zopfan remains relevant, and the region must stay open to all without being pulled into global conflict. With the room for neutrality narrowing, Asean is left walking a tightrope. However, that does not mean it is powerless. 'If Asean can get its act together and integrate deeper, it can be a formidable economic entity. Some estimates suggest that by 2030, this could be a US$4 trillion regional economy, the fourth largest in the world, if integrated,' Hew said.
Time of India
26-05-2025
- Politics
- Time of India
Jeffrey Sachs exposes US, Israel's role in Syrian conflict
Turkish Deputy Foreign Minister Nuh Yilmaz, World Food Programme Chief Operating Officer Carl Skau, U.N. Special Envoy for Syria Geir Pedersen and U.N. Sustainable Development Solutions Network President Jeffrey Sachs participate in a panel discussion titled 'Syria: Reconstructing and Reconciling the Country' at the Antalya Diplomacy Forum. Exposing the US and Israel's role in the Syrian crisis, Jeffrey Sachs said, "American interference, at the behest of Netanyahu's far-right Israel, has left the Middle East in ruins." Show more Show less
New Straits Times
25-05-2025
- Business
- New Straits Times
Sachs to Asean countries: Prioritise global partnerships
KUALA LUMPUR: The upcoming summit with China and the Gulf Cooperation Council (GCC) is a critical opportunity for Asean to deepen cooperation and embrace a future-focused agenda. As such, United States-based economist Jeffrey Sachs urged Asean countries to prioritise regional integration, sustainable development and stronger global partnerships to navigate a changing economic and geopolitical landscape. Speaking ahead of the Asean Summit with China and GCC nations, which starts tomorrow, Sachs underscored the bloc's role in driving a green global economy, especially under Malaysia's chairmanship. Sachs, a professor at Columbia University and the president of the United Nations Sustainable Development Solutions Network, described the summit as a historic opportunity to deepen Asean ties with East Asia and West Asia. "This meeting brings together Asean, China and the GCC. "It's an important and promising moment, especially with Malaysia playing a leadership role." He expressed optimism that significant commitments would emerge during the summit and the Asean leaders' meeting later this year. "We can expect progress on regional integration, advancements in the sustainable development agenda and enhanced ties with global partners." He said this at a dialogue on "Asean Amid Shifting Global Order" organised by Sunway University and the Jeffrey Cheah Foundation in Petaling Jaya near here on Friday. A DECLINE IN US DOMINANCE Sachs addressed the shifting global economic landscape, highlighting the declining dominance of the US in politics and trade. "Just as the US no longer dominates the world economy, the US dollar is losing its stronghold in global trade," he said. He pointed to recent developments, including the downgrade of the US credit rating and rising interest rates, as indicators of growing uncertainty about the US economy and policies. "This presents a critical opportunity for Asean to explore alternative trade and financial arrangements that promote resilience and long-term stability." LEADING THE GREEN AND DIGITAL ECONOMY He emphasised Asean's potential to lead the global transition to a green and digital economy, advocating for the adoption of sustainable energy systems and new technologies. "Asean must embrace a new energy trajectory by adopting low- or zero-carbon technologies," he said, highlighting the need for renewable energy sources. He urged the bloc to implement an Asean power grid. "Asean needs a low-carbon, high-efficiency regional energy system that integrates all 10 member states," he said. He outlined the benefits of an interconnected energy marketplace, which would support electric vehicles, clean shipping, hydrogen economies and advanced biofuels. He stressed the importance of linking Asean's energy initiatives with regional partners, including China, Australia and Japan, to maximise impact. "Building a robust power grid and enhancing infrastructure will not only attract investments but also strengthen Asean's global competitiveness." STRENGTHENING PARTNERSHIPS AND TRADE RESILIENCE He highlighted the importance of Asean's economic partnerships with China and the GCC, describing them as vital for the bloc's global standing. Asean, he added, should have good relations with all parts of the world rather than be allied with other countries or groupings. "The idea is that Asean is a very open region, and trades with the US, Europe, China and others." On US trade protectionism, Sachs expressed confidence in a return to multilateralism. "The world prefers a rules-based trading system under the World Trade Organisation. "Asean, like others, should maintain open trade and avoid following the US into protectionist policies," he said, adding that Asean leaders should act collectively and decisively. "Together, we can create a sustainable and prosperous future by focusing on the Sustainable Development Goals — planet, people, prosperity and peace."
Free Malaysia Today
24-05-2025
- Politics
- Free Malaysia Today
Trump's Harvard foreign students ban ‘insane', says US professor
Harvard University has filed a suit against the Donald Trump administration, arguing that the ban on foreign students is a blatant violation of the US constitution. (Wikipedia pic) PETALING JAYA : American economist Jeffrey Sachs has slammed the move by the Donald Trump administration to bar international students from enrolling in Harvard University, the oldest and most prestigious Ivy League institution in the US. 'The US yesterday banished foreign students from Harvard University. That's not a joke, that's insane,' said Sachs, a professor at Columbia University, New York, and UN Sustainable Development Solutions Network president. 'It is self destruction at a rate that is absolutely impossible to understand other than in psychological terms. 'This is a backlash, resentment, aggression, and arrogance that will destroy the core of (America's) prosperity,' he said in his presentation at the 'Asean amidst shifting global order' forum organised by the Sunway Group yesterday. Sachs also linked this unprecedented move by President Trump to 'America's Cultural Revolution'. He compared it to China's Cultural Revolution launched by Chinese leader Mao Zedong in 1966 that lasted till his death in 1976. 'Cultural revolutions do not go well. It set back China for 20 years,' he said. In an earlier interview with Hindustan Times, Sachs noted that the Cultural Revolution was a 'disastrous period for China', where universities were closed down, and the economy was in turmoil. 'The Trump administration is attacking universities. It's said to be on the basis of antisemitism in these (elite) institutions. 'That is both a laughable and tragic claim. The whole idea is completely absurd,' said Sachs, who was a student and professor at Harvard. The university and US government have been at loggerheads for months as the administration demanded the university make changes to campus operations. The administration has homed in on foreign students and staff it believes participated in contentious campus protests over the Israel-Hamas war. On Thursday, Homeland Security secretary Kristi Noem dropped the bombshell that Harvard's student and exchange visitor programme certification has been revoked, effective immediately. This affects thousands of international students, who would have to transfer or face deportation. Noem accused Harvard of 'fostering violence, antisemitism, and coordinating with the Chinese Communist Party'. Harvard responded with a suit the next day, citing 'blatant violation' of the US constitution. A federal judge in Massachusetts temporarily blocked the White House from revoking Harvard's ability to enrol foreign students, who make up an estimated 27% of the student body or about 6,700 students. Malaysian support for Harvard The Harvard Club of Malaysia has rallied behind the institution against the Trump administration's shock move. 'We fully support our alma mater's stand and affirm our commitment to openness, inquiry, and service – principles that not only define Harvard, but also our enduring role in society,' it said in a statement yesterday. 'We are confident the university's ongoing commitment to its values, globalism, rule of law, and the betterment of humanity will continue to stand it in good stead, whatever the political winds of the day.' Club deputy president Krishnavenee Krishnan said the association is deeply concerned for Malaysian students at the university. 'They should not be robbed of their opportunity to receive a world-class education and to make world-class contributions,' she said. Earlier, Perikatan Nasional criticised the US decision, with its education portfolio chairman Saifuddin Abdullah calling the move 'uncivilised'. Saifuddin said universities are institutions of knowledge that 'cherish the values of truth and justice'. The former deputy higher education minister also urged Putrajaya to promptly engage with Malaysian students at Harvard and other US universities to ensure their welfare is safeguarded.
Free Malaysia Today
23-05-2025
- Business
- Free Malaysia Today
Asean should ‘choose neighbours' in US-China competition
US economist Jeffrey Sachs said Asean cannot do without its economic relations with China. PETALING JAYA : Eminent US economist Jeffrey Sachs said Asean should choose its neighbour – China – if it is forced by the US to pick a side in its great power competition with the Asian giant. 'The US should not try to make Asean choose. That would not only be unfair, but if Asean is forced to choose, you would choose your neighbour, China, obviously. 'This is because Asean cannot do without its economic relations with China. That's not even imaginable,' said Sachs, a professor at Columbia University and UN Sustainable Development Solutions Network president. He added that Asean should have good relations with all parts of the world rather than be in alliance with other countries or groupings. 'The idea is that Asean is a very open region, and trades with the US, Europe, China, and others. So, the US should not try to force Asean into making such choices,' he said during a dialogue on 'Asean amidst shifting global order' organised by Sunway University and the Jeffrey Cheah Foundation. Sachs made his comments in response to a question on whether strategic neutrality is still a viable option for Asean. For Malaysia, and Asean, China remains their largest trading partner. In 2024, Malaysia-China trade hit a record US$212 billion (RM917.4 billion), marking the 16th consecutive year China was Malaysia's No 1 trading partner. Since 2013, Asean-China trade has grown on average 7.5% a year, reaching US$982.3 billion (RM4.25 trillion) in 2024. A recent Bloomberg report said the administration of US president Donald Trump is preparing to pressure countries seeking reductions or exemptions on US reciprocal tariffs to curb trade with China. US treasury secretary Scott Bessent also said countries negotiating trade deals with the US should 'approach China as a group' together with Washington. In response, China has warned countries against striking an economic deal with the US at its expense, ratcheting up the temperature in a spiralling trade war between the world's two biggest economies. Sachs said if the US tries to put on secondary sanctions and impede Asean's economic relations with China, it would 'have to be resisted'. 'That's because neighbours need to trade, have common infrastructures and transport (links), manage riversheds, and so forth.' He said the 10-nation regional grouping should work closely with China in areas such as physical infrastructure and connectivity. 'This is a neighbourhood. The Belt and Road Initiative is a very important and positive initiative. It implements fast rail, renewable energy, and digital systems that are for everybody's mutual benefit,' he said. Sach added that Asean's goal should be openness to all. 'Be calm and don't get into a conflict. We don't want to be in the middle of your conflict, and there is no reason for conflict at all,' he said. In this regard, he suggested that foreign military bases in the Asian region be eliminated. The US has military bases in the Philippines, Japan and South Korea, all within striking range of its adversary China. 'Over time, I believe the US should leave (its bases in the region). We can't afford it anyway. 'President Trump says Japan and South Korea should pay for our services. I think Japan and Korea should say 'thank you very much but we don't need to pay'. If you want to leave, that's also fine,' he said.
