Asean To Benefit From China's Rise, Says Taiwan Body

By Norsyafawati Ab Wahab KUALA LUMPUR, Nov 3 (Bernama) -- Southeast Asian countries would benefit from the rise of China as the world's second largest economy, says Straits Exchange Foundation chairman Dr Chiang Pin Kung. "China's government has successfully attracted a lot of investors from other regional countries to invest in China. "This has benefited other Asian countries as they (investors) have been eyeing other countries in the region as potential investment destinations," he told Bernama at the third World Chinese Economic Forum here on Thursday. Dr Chiang was a Chinese Taipei representative at the APEC Leaders Summit in 1998 and 1999. He said China is developing its domestic market, giving a lot of opportunities for other Asian countries to tap into its economy. "Malaysia and Taiwan have already shifted their trade focus from the US to China, but we need to leverage more on it," he added. However, Ching said, the economic crisis in the US and Europe has threatened China's trade with both countries and indirectly affected Asean's exports to China. He said during the 2009 US economic crisis, China's exports to the US declined, adding the same thing is happening now amid the eurozone debt crisis. "I hope the efforts by the G20 and European leaders will solve the crisis quickly and turn things back to normal," he said adding that he expects the crisis to be over by next year. -- BERNAMA