Talk on ASEAN and the Great Power Competition

The UTAR Global Economics Society (GES) organised a talk titled "ASEAN and the Great Power Competition" along with the Belt and Road Strategic Research Centre (BRSRC) and the Faculty of Accountancy and Management (FAM) on 5 September 2023 at Sungai Long Campus. The talk was delivered by Executive Director of Capital Dynamics Asset Management Sdn Bhd Ms Low Guat Meng, who explained the power struggle between the United States (US) and China, and how ASEAN can benefit from it. FAM academic Dr Tun Yin Li was the moderator of the talk. Also present were FAM academic Dr Fok Kuk Fai and GES Advisor Mr Low Choon Wei. The talk aimed to enhance the knowledge and interest of students in international trade, expose students to career opportunities in the economic world, and explore areas for further research.

The United States and China have a love-hate relationship. Both are major trading nations and the people of both countries have benefited tremendously from their bilateral trade. However, politically, the relationship between these two largest economies in the world has not been particularly friendly. In recent years, the US animosity towards China has intensified with the introduction of many harsh trade measures against China. As a result, tensions between these two great powers have heightened significantly. The ASEAN’s pragmatic foreign policy, however, has benefitted from the Great Power Competition, with a strong increase in external trade.

Ms Low delivering her speech

The talk commenced with an introduction to Capital Dynamics Sdn Bhd by Ms Low, who highlighted its unique position as Asia’s first global fund manager. This company was also the first Asian fund manager to secure a retail Australian Financial Services License and a retail fund management license in Hong Kong. Additionally, it holds the distinction of being Malaysia’s first independent investment adviser and the first ASEAN investment firm with an office in Shanghai. Subsequently, Ms Low introduced and explained the career as an economist within an investment company and showcased the research conducted by the organisation.

The central theme of the talk revolved around the Great Power Competition, which primarily involved the economic strength and influence of the United States and China. The discussion focused on why countries engage in international trade, examining the economic prowess of these two global giants and their initiatives, such as the Belt and Road Initiative. Students gained valuable insights into the performance of the United States and China in various economic sectors, underscoring the importance of their roles in the global economic landscape.

The talk provided an in-depth discussion of how ASEAN responds to complex great power competition. ASEAN pursues a policy of non-alignment, aiming to maintain strong relations with the United States and China without becoming overly dependent on any one party. This approach enables ASEAN member states to safeguard their interests in an increasingly competitive world.

The talk, which was followed by a Q&A session, ended with a presentation of certificate to Ms Low and a group photograph.

Third from left: Mr Low, Ms Low, Dr Tun and Dr Fok with participants

Q&A session in progress

Mr Low (left) presenting a certificate to Ms Low