Malaysia Needs To Adapt Economic Strategies To Global Changes – Jomo

KUALA LUMPUR, Oct 6 (Bernama) -- Malaysia needs to be astute in adapting its economic strategies to policy shifts by the world's major powers, while ensuring the nation's economic interests and development remain safeguarded.

Khazanah Research Institute (KRI) Research Advisor Prof Emeritus Dr Jomo Kwame Sundaram said competition among major powers was increasingly affecting trade, investment, technology and the global economic landscape.

"Geopolitical conflicts, economic sanctions, supply chain disruptions and inflationary pressures also pose challenges to Malaysia as an open economy that depends on international trade, investment, and finance.

"These changes have implications for Malaysia, particularly in terms of inflation, foreign investment flows, the stability of the ringgit, and the nation's economic competitiveness," he said.

He was speaking at the Executive Talk Programme titled 'World Powers: Current Economic and Political Implications for Malaysia' at the National Library of Malaysia (PNM) Auditorium here today.

The programme, organised by the National Unity Ministry (KPN) through PNM, focused on changes in the global economic and geopolitical landscape and their impact on Malaysia.

Among the focal points of the discussion were trade tensions between major powers, supply chain security, commodity market volatility, and the formation of new economic blocs influencing trade patterns and international economic relations.

Jomo, who is also a Fellow of the Academy of Sciences Malaysia and Professor Emeritus of Universiti Malaya, previously served as the United Nations (UN) Assistant Secretary-General for Economic Development and Assistant Director-General of the UN Food and Agriculture Organisation (FAO).

KPN, in a statement, said the programme was attended by 389 participants in person and 483 online, comprising public sector officers, university and school students, and members of the public.

The Executive Talk 2026 also aimed to strengthen PNM's role as a national reference institution and a platform for intellectual discourse, connecting experts with the community to discuss national and international strategic issues.

-- BERNAMA