This photo taken on Jan. 19, 2024 shows video clips of 3D dragon in celebration of the Chinese zodiac Year of the Dragon on the LED screen outside a shopping mall in Kuala Lumpur, Malaysia. (Photo by Chong Voon Chung/Xinhua)
KUALA LUMPUR, March 8 (Xinhua) -- Developing nations, including Malaysia, will find it profitable to take advantage of the niche areas within China's technological advancement in high-tech industries, according to a Malaysian expert.
China has made substantial gains in several new emerging fields, particularly in artificial intelligence, electric vehicles, fintech, high-speed trains, and other high-tech sectors, creating the demand for commodities and finished products that Malaysia produces, Shankaran Nambiar, a senior research fellow at the Malaysian Institute of Economic Research, told Xinhua in a recent interview.
Nambiar said as Malaysia's largest trade partner since 2009, China will be the key economic driver in the region.
Malaysia should avoid being caught in bloc confrontation while taking advantage of the opportunities to draw investments and carry out technological cooperation, the expert added.
During the recent 2024 ASEAN-Australia Special Summit held in Melbourne, Australia, Malaysian Prime Minister Anwar Ibrahim said that the United States and some of its allies should not preclude Malaysia from being friendly to China.
China has maintained its position as the largest trading partner of Malaysia for 15 consecutive years and has been Malaysia's main source of investment for many years. Market demand from China will become an important force in driving Malaysia's export growth in 2024, according to a recent Kenanga Research report.
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