9 hours Ago By MUHAMMED AHMAD HAMDAN
KUALA LUMPUR: American commentator Bill O'Reilly's claim that Malaysians "have no money" to buy Chinese products has drawn sharp criticism from economists.They dismissed the remark as economically ignorant, disconnected from trade realities and undeserving of serious attention.The former Fox News anchor compared Malaysia's household income per capita to that of the United States (US), suggesting that Malaysians were too poor to afford goods from China.
The comment, widely ridiculed online, was further marred by a factual blunder as he appeared to confuse Malaysia with Indonesia when referencing former US President Barack Obama's childhood.Economists contacted by Business Times, however, were less amused than bemused.Describing the assertion as "absurd", Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid pointed out that international trade decisions are made based on careful economic assessments.
"Trade deals are commercial deals. Each country does its due diligence before entering negotiations," he said."Malaysia is a member of the Asean-China Free Trade Area, Regional Comprehensive Economic Partnership and hosts numerous Chinese investments.
That alone says a lot about our economic standing."Afzanizam also highlighted Malaysia's sovereign credit ratings — A3 by Moody's, A- by S&P Global Ratings and BBB+ by Fitch Ratings — all comfortably above investment grade."These are reputable international assessments.
Global investors have long done their due diligence on Malaysia. Remarks like his don't deserve serious airtime," he added.Putra Business School economic analyst Associate Prof Dr Ahmed Razman Abdul Latiff said the remark reflected more than just economic illiteracy.
"Such a statement not only reflects his ignorance of the current trade situation but also borders on arrogance, coming from the perception that the US will always remain the top economic superpower," he said."It's also a sign of desperation in realising that the rest of the world has begun consolidating global trade cooperation without the US at the centre, or at least with minimal dependency on it."He added that the World Bank is forecasting stronger economic growth in the Asia Pacific region than in any other part of the world, underlining the rising economic potential of Asean, wider Asia, India and Australia.
Singapore Institute of International Affairs senior fellow Dr Oh Ei Sun took a more measured tone, contextualising O'Reilly's claim within the current dynamics of US-China trade friction."Actually, the fear here is the opposite — that Chinese goods, unable to enter the US due to high tariffs, may be diverted or dumped in this region instead," he said.While acknowledging that Southeast Asian countries like Malaysia and Vietnam do not have the same purchasing power as the US, Dr Oh noted they remain significant emerging markets.
"Cambodia, of course, still has a long way to go," he added.Business Consultancy Sdn Bhd director Professor Geoffrey Williams took a more scathing — and witty — view."Nobody in Malaysia or Asia knows or cares who Bill O'Reilly is.
He's become notorious only because he sounds like a comedian on a news satire spoof," Williams said."His coverage has grown tired as he nears the end of his career. I imagine even people in US media circles are looking forward to his retirement.
"Williams ended with a tongue-in-cheek invitation: "He can always apply for the Malaysia My Second Home programme and see for himself how beautiful and successful this country really is."© New Straits Times Press (M) Bhd.
