MALAYSIA SHOULD CAPITALISE ON CHANGING GLOBAL ECONOMY, SAYS PwC

KUALA LUMPUR, Nov 13 (Bernama) -- Malaysia should capitalise on the changing
landscape of the global economy, according to PricewaterhouseCoopers (PwC).

Despite the shrinking export markets that slowed the growth of emerging
economies, the country's financial system escaped the crisis that hit the United
States, Europe and developed economies, said the company which provides
industry-focused assurance, tax and advisory services.

"Malaysia needs a new paradigm, one where we compete based on our
productivity, innovation and creativity and where talent finds it," PwC
Malaysia's managing director Chin Kwai Fatt.

"Within Asean itself there is much potential," Chin said in a statement
Friday.

"Yet, many countries are still stuck in the old ways with their focus on
investors and markets outside the region," he said.

According to Chin, the Malaysian government should accelerate its plans and
lead the way in working with the neighbouring governments to make the Asean
Economic Community a reality.

In a survey conducted by PwC, it was found that 74 per cent of the 350
business leaders in the Asia Pacific Economic Cooperation (Apec) region had
identified that in order to have sustainable current account balances, promotion
of regional trade was the most important measure.

"Nearly all the respondents expect intra-Apec ex-US trade to increase in the
near future, with those from the Americans showing the highest expectation,"
Chin said.

PricewaterhouseCoopers (or PwC) is one of the world's largest professional
services firms.

-- BERNAMA