KUALA LUMPUR: Malaysia's central location within South-East Asia and its entry into the Regional Comprehensive Economic...

   

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KUALA LUMPUR: Malaysia's central location within South-East Asia and its entry into the Regional Comprehensive Economic Partnership (RCEP) makes the country an ideal gateway for businesses in China to venture into Asean, says Datuk Seri Dr Wee Ka Siong. The Transport Minister said Malaysia's participation in RCEP will boost the country's growth. *The RCEP agreement has come into force here in Malaysia on March 18 and it paves the way for us to integrate into the largest free trade agreement (FTA). connecting 15 countries with a total population of more than 2.2 billion. *This is a major milestone that allows Malaysia to grow exponentially and revitalise the state of various economic sectors. *As Malaysia is centrally located within South-East Asia, we are the perfect regional gateway for Chinese companies to venture into Asean, creating opportunities for investment expansion and business opportunities through projects and partnerships. *All these collaborations within the business communities will further enhance and promote future trades in transport and logistics, retail, and port-related services, ensuring a thriving economy for the future," he said in his speech at the Malaysia China Chamber of Commerce (MCCC) 32nd anniversary gala dinner here yesterday. Source: https://www.thestar.com.my/news/nation/2022/06/18/malaysias-strategic -location-ideal-for-trade You are required to: (a) Explain 6 advantages of international trade to Malaysia (b) Explain how the given situation (Chinese companies venture into ASEAN, creating opportunities for investment expansion and business opportunities through projects and partnerships) affects the exchange rate of the Malaysian ringgit. Explain your answer with an aid of a floating exchange rate diagram (c) Explain TWO (2) measures to correct an adverse balance of the payment account. KUALA LUMPUR: Malaysia's central location within South-East Asia and its entry into the Regional Comprehensive Economic Partnership (RCEP) makes the country an ideal gateway for businesses in China to venture into Asean, says Datuk Seri Dr Wee Ka Siong. The Transport Minister said Malaysia's participation in RCEP will boost the country's growth. *The RCEP agreement has come into force here in Malaysia on March 18 and it paves the way for us to integrate into the largest free trade agreement (FTA). connecting 15 countries with a total population of more than 2.2 billion. *This is a major milestone that allows Malaysia to grow exponentially and revitalise the state of various economic sectors. *As Malaysia is centrally located within South-East Asia, we are the perfect regional gateway for Chinese companies to venture into Asean, creating opportunities for investment expansion and business opportunities through projects and partnerships. *All these collaborations within the business communities will further enhance and promote future trades in transport and logistics, retail, and port-related services, ensuring a thriving economy for the future," he said in his speech at the Malaysia China Chamber of Commerce (MCCC) 32nd anniversary gala dinner here yesterday. Source: https://www.thestar.com.my/news/nation/2022/06/18/malaysias-strategic -location-ideal-for-trade You are required to: (a) Explain 6 advantages of international trade to Malaysia (b) Explain how the given situation (Chinese companies venture into ASEAN, creating opportunities for investment expansion and business opportunities through projects and partnerships) affects the exchange rate of the Malaysian ringgit. Explain your answer with an aid of a floating exchange rate diagram (c) Explain TWO (2) measures to correct an adverse balance of the payment account.

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a Advantages of International Trade to Malaysia 1 Access to New Markets One of the primary advantages of international trade for Malaysia is that it g... View the full answer