UOB Malaysia Optimistic Of Impact On Economies Of Trump's Pledge To Boost Infrastructure Spending

KUALA LUMPUR, Nov 10 (Bernama) –- United Overseas Bank Malaysia (UOB Malaysia) is cautiously optimistic of the long-term impact on the US as well as the global economies of the pledge by US president-elect, Donald Trump, to boost infrastructure spending. Its Economist, Julia Goh, said this came at a time when fiscal policy was needed to play a greater role in resuscitating global growth. Trump, in his speech after his victory Wednesday, had said he would fix the inner cities and rebuild highways, bridges, tunnels, airports, schools and hospitals. "We’re going to rebuild our infrastructure, which will become, by the way, second to none. And we will put millions of our people to work as we rebuild it," he said. Goh said there were concerns that this could widen US deficit and that it could stoke inflation. "For Asia, there is still uncertainty in terms of policy direction with Trump winning the election," she said at a media briefing here Thursday. She said the US would not likely go all out towards protectionism in trade policy, with possible action taken towards re-negotiating for fairer trade policy for US. -– BERNAMA