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Asia Unbound

CFR experts give their take on the cutting-edge issues emerging in Asia today.

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Showing posts for "Malaysia"

Malaysia’s Economy Faces Severe Strain

by Joshua Kurlantzick
malaysia-economy A woman walks past a money exchange shop in Kuala Lumpur, Malaysia, on August 25, 2015. The Malaysian ringgit hit a fresh pre-peg 17-year low on Monday as sustained worries about China's economy dented global risk appetite with European and Wall Street stocks suffering their largest one-day drop in nearly four years. (Olivia Harris/Reuters)

Like any Southeast Asian economy whose trade with China is a major foundation of growth, Malaysia was bound to suffer as the Chinese economy staggered and Chinese stock markets plunged. Malaysia is China’s largest trading partner in Southeast Asia, and Malaysia-China two-way trade topped $100 billion in 2014. Read more »

Malaysia’s Leadership Crisis

by Joshua Kurlantzick
najib-razak-1MDB scandal Malaysia's Prime Minister Najib Razak arrives at the 48th Association of Southeast Asian Nations (ASEAN) foreign ministers meeting in Kuala Lumpur, Malaysia, on August 4, 2015. (Olivia Harris/Reuters)

Since early July, when the Wall Street Journal and the Sarawak Report, an investigative website focusing on Malaysia, both reported that embattled Malaysian state fund 1MDB had allegedly transferred funds into the personal accounts of Prime Minister Najib tun Razak, Malaysia’s normally placid politics have exploded. Along with a battle within the ruling coalition between the prime minister and supports of longtime former Prime Minister Mahathir Mohamad, Najib is now apparently fending off challenges from some top leaders within the governing coalition. Read more »

Malaysia’s Political Crisis Deepens

by Joshua Kurlantzick
najib-razak-1MDB Men walk past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur, Malaysia, on March 1, 2015. (Olivia Harris/Reuters)

This past week, the crisis in Malaysia’s governing coalition has only grown deeper, with the sacking of several prominent ministers in a scene that could remind one of the Nixon administration’s October, 1973 Saturday Night Massacre. As stories continued to emerge alleging improprieties in Malaysia’s state 1MDB fund, including the alleged deposit of funds into the personal accounts of Prime Minister Najib tun Razak, sentiment in the governing coalition about Najib appeared to be split. Read more »

Friday Asia Update: Top Five Stories for the Week of July 31, 2015

by Guest Blogger for Elizabeth C. Economy
The Chinese People's Liberation Army (PLA) Navy guided missile destroyer Haikou (171) arrives at the Joint Base Pearl Harbor Hickam to participate in the multi-national military exercise RIMPAC 2014, in Honolulu, Hawaii, June 24, 2014. (Hugh Gentry/Reuters) The Chinese People's Liberation Army (PLA) Navy guided missile destroyer Haikou (171) arrives at the Joint Base Pearl Harbor Hickam to participate in the multi-national military exercise RIMPAC 2014, in Honolulu, Hawaii, June 24, 2014. (Hugh Gentry/Reuters)

Ashlyn Anderson, Lincoln Davidson, Lauren Dickey, Darcie Draudt, William Piekos, and Ariella Rotenberg look at the top stories in Asia today.

1. China conducts live fire drills in the South China Sea. More than one hundred naval vessels, dozens of aircraft, and units from China’s information warfare forces and missile corps participated in the live fire exercises Tuesday, which one Australian expert called a “needlessly excessive show of force.” Read more »

Allegations Against Prime Minister Najib Raise the Political Temperature in Malaysia

by Joshua Kurlantzick
Workmen are pictured on site at the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange development in Kuala Lumpur, Malaysia, March 1, 2015. Malaysian Prime Minister Najib Razak slammed a report that said close to $700 million was wired to his personal account from banks, government agencies and companies linked to the debt-laden state fund 1MDB, claiming this was a "continuation of political sabotage." Picture taken March 1, 2015. REUTERS/Olivia Harris Workmen are pictured on site at the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange development in Kuala Lumpur, Malaysia, March 1, 2015 (Olivia Harris/Reuters).

The past week has almost surely been the most challenging of Malaysian Prime Minister Najib tun Razak’s career. Late last week both the Wall Street Journal and the Sarawak Report, an investigative reporting website about Malaysia, reported that a group of companies linked to debt-ridden state fund 1Malaysian Development Bhd. (1MDB) had made deposits into Najib’s bank accounts. The WSJ further alleged that the biggest deposit into Najib’s account was worth $620 million, and that one of the other deposits was worth over $60 million. Read more »

What Will the TPP Mean for Southeast Asia?

by Joshua Kurlantzick
Australia's Trade Minister Andrew Robb (6th R) speaks at a news conference at the end of the Trans Pacific Partnership (TPP) meeting of trade representatives in Sydney, October 27, 2014. REUTERS/Jason Reed (AUSTRALIA - Tags: BUSINESS POLITICS) Trade representatives speak at a news conference at the end of the Trans Pacific Partnership (TPP) meeting in Sydney, October 27, 2014 (Jason Reed/Reuters).

With Tuesday’s vote in the U.S. Senate to give President Obama fast track negotiating authority on trade deals, the president is likely to be able to help complete the Trans-Pacific Partnership (TPP), with the United States in the deal, by the end of the year. With fast track authority completed, the United States will be positioned to resolve remaining bilateral hurdles with Japan, the key to moving forward with the TPP. Read more »

Friday Asia Update: Top Five Stories for the Week of June 12, 2015

by Guest Blogger for Elizabeth C. Economy
Zhou Yongkang, China's former domestic security chief, stands between his police escorts as he listens to his sentence in a court in Tianjin, China, in this still image taken from video provided by China Central Television and shot on June 11, 2015. According to CCTV, Zhou was sentenced to life imprisonment on Thursday, deprived of his political rights for life and his personal assets confiscated, for accepting bribes, abusing power and deliberately disclosing state secrets, the Tianjin Municipal No. 1 Intermediate People's Court ruled in its first instance. Zhou pleaded guilty and will not appeal. REUTERS/China Central Television via REUTERS TV Zhou Yongkang, China's former domestic security chief, stands between his police escorts as he listens to his sentence in a court in Tianjin, China, in this still image taken from video provided by China Central Television and shot on June 11, 2015 (CCTV/Reuters).

Ashlyn Anderson, Lincoln Davidson, Lauren Dickey, Darcie Draudt, William Piekos, and Ariella Rotenberg look at the top stories in Asia today.

1. China’s ex-domestic security chief Zhou Yongkang to serve life sentence. The former Politburo Standing Committee member was convicted of abuse of power, accepting bribes, and revealing state secrets and sentenced to life in prison Thursday, just shy of a year after his arrest. While officials initially suggested Zhou’s trial would be open and transparent, it wasn’t, with Xinhua adopting the amusing terminology “non-public open trial” (in Chinese) to describe the proceedings. Zhou is the most senior Chinese official to be convicted of graft in PRC history, but this isn’t likely to be the end of Chinese President Xi Jinping’s anti-corruption campaign (tigers beware!). Read more »

Friday Asia Update: Top Five Stories for the Week of May 29, 2015

by Guest Blogger for Elizabeth C. Economy
Men sleep on a temporary shade built over a drain next to a slum on a hot summer day in New Delhi, India, May 28, 2015. A heat wave in India has killed at least 1,371 people this week as temperatures soar above 47 Celsius (116.6 Fahrenheit), and doctors' leave has been cancelled to help cope with the sick. (Reuters/Anindito Mukherjee) Men sleep on a temporary shade built over a drain next to a slum on a hot summer day in New Delhi, India, May 28, 2015. A heat wave in India has killed at least 1,371 people this week as temperatures soar above 47 Celsius (116.6 Fahrenheit), and doctors' leave has been cancelled to help cope with the sick. (Reuters/Anindito Mukherjee)

Ashlyn Anderson, Lauren Dickey, Darcie Draudt, William Piekos, and Ariella Rotenberg look at the top stories in Asia today.

1. Death toll in India’s heat wave nears two thousand. Hospitals across India are struggling to meet the needs of victims of the most severe heatwave the country has seen in twenty years. With temperatures hovering above 110 degrees Fahrenheit for over a week, Indian citizens are anxiously waiting for monsoon rains to cool the smoldering air. Pictures of melting roads with swirled and distorted road markings illustrate the shocking intensity of the heat. Day workers, the homeless, and elderly people face severe danger, unable to take a day off from work or to find adequate shelter. Although heatwaves are not uncommon in India, climate change has led to more frequent and intense heatwaves in recent years. India’s Meteorological Department recorded temperatures just five degrees short of the nation’s record. Read more »

Amid Spectacle of Malaysia Infighting, Democratic Slide Continues

by Joshua Kurlantzick
najib-razak-malaysia Malaysia's Prime Minister Najib Razak speaks during the opening ceremony of the 26th ASEAN Summit in Kuala Lumpur, Malaysia on April 27, 2015. (Olivia Harris/Courtesy: Reuters)

Since the end of 2014, Malaysians, normally living in one of the most stable countries in Asia, have witnessed an extraordinary political spectacle. Although the same ruling coalition has run Malaysia since independence five decades ago, 89-year-old former Prime Minister Mahathir Mohamad recently launched a fusillade of public attacks on the current prime minister, Najib Razak, his longtime political protégé. Read more »

Friday Asia Update: Top Five Stories for the Week of April 10, 2015

by Guest Blogger for Elizabeth C. Economy
A ship (top) of Chinese Coast Guard is seen near a ship of Vietnam Marine Guard in the South China Sea, about 210 km (130 miles) off shore of Vietnam May 14, 2014. Vietnamese ships were followed by Chinese vessels as they neared China's oil rig in disputed waters in the South China Sea on Wednesday, Vietnam's Coast Guard said. Vietnam has condemned as illegal the operation of a Chinese deepwater drilling rig in what Vietnam says is its territorial water in the South China Sea and has told China's state-run oil company to remove it. China has said the rig was operating completely within its waters. (Nguyen Minh/Courtesy: Reuters) A ship (top) of Chinese Coast Guard is seen near a ship of Vietnam Marine Guard in the South China Sea, about 210 km (130 miles) off shore of Vietnam May 14, 2014. Vietnamese ships were followed by Chinese vessels as they neared China's oil rig in disputed waters in the South China Sea on Wednesday, Vietnam's Coast Guard said. Vietnam has condemned as illegal the operation of a Chinese deepwater drilling rig in what Vietnam says is its territorial water in the South China Sea and has told China's state-run oil company to remove it. China has said the rig was operating completely within its waters. (Nguyen Minh/Courtesy: Reuters)

Ashlyn Anderson, Lauren Dickey, Darcie Draudt, William Piekos, and Ariella Rotenberg look at the top stories in Asia today.

1. U.S. Secretary of Defense wraps up inaugural visit to Northeast Asia. Recently confirmed Secretary of Defense Ash Carter arrived in East Asia this week, reinforcing the importance of the rebalance policy under his watch at the Pentagon. On his way to the region from Washington, Carter spoke at the McCain Institute at Arizona State University on Monday, where he underscored the importance of U.S. presence in the Asia-Pacific through both military strength and economic growth. Read more »