Johannesburg: Countries can withstand global shocks only when their policies are sound, aligned and ready for stress, Prime Minister Datuk Seri Anwar Ibrahim said. He emphasized that as the ASEAN Chair this year, Malaysia has observed that resilience results from deliberate choices and clear rules that enable nations to absorb volatility.
According to BERNAMA News Agency, Anwar highlighted that working with Southeast Asian neighbours to navigate tariff shocks, supply-chain pressures, and rapid technological developments has shown that when policies are aligned and rules are predictable, shocks pass through with less damage. He shared these insights during Session 1 of the G20 Leaders Summit, titled ‘Inclusive and Sustainable Economic Growth Leaving No One Behind: Building Our Economies; the Role of Trade; Financing for Development; and the Debt Burden’.
Anwar, who also serves as the Finance Minister, noted that the lesson matters because future disruptions may be harder to contain. He warned that artificial intelligence (AI) will reorganize labor markets at a pace that institutions will struggle to match, emphasizing the need for early investment in transitions to prevent workers, especially the young, from facing these shifts alone.
He reflected on history, pointing out the consequences of societies being unprepared for globalization, including stagnant wages, eroded trust, and the rise of grievance-based politics. Anwar cautioned that with AI, destabilization becomes a real risk if countries enter this transition unprepared, marking it as one of the defining challenges of current times.
To face these challenges, Anwar stressed the importance of equipping people, particularly the youth, to keep pace with technological change. He advocated for opportunities for training and credible safety nets, highlighting the role of small and medium-sized firms in carrying much of the employment burden.
Anwar also emphasized the necessity of open and predictable trade, noting that Southeast Asia is intensifying efforts on international trade. He pointed out that connected markets and clear, stable rules strengthen supply chains and give firms the confidence to invest. The region is swiftly advancing the ASEAN Digital Economy Framework Agreement to set common standards for data, payments, and digital trade.
Lastly, Anwar underscored that global resilience cannot be built on fiscal exhaustion, noting that many developing economies spend more on servicing debt than on education or investment. He stated that countries need the capacity to invest ahead of disruption, not after, and called for multilateral development banks to be ready to deploy quickly and work closely with countries to support investments that build resilience.
Malaysia, Anwar stated, is prepared to collaborate with all partners to meet this common challenge and help sustain an open, predictable global economy. The Prime Minister’s participation in the G20 Leaders Summit marks his second attendance as a guest country, following his first in Brazil last year. South African President Cyril Ramaphosa extended this year’s invitation to Malaysia in its capacity as ASEAN Chair for 2025.
Later, Anwar is set to deliver Malaysia’s statement in Session 2, titled ‘A Resilient World – the G20’s Contribution: Disaster Risk Reduction; Climate Change; Just Energy Transitions; Food Systems’. Following his address, he will attend the G20 Leaders’ Dinner hosted by Ramaphosa at the NASREC Expo Centre.