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Malaysia and Singapore to Boost Cybercrime Cooperation in Cross-Border Crime Agreement

Key Takeaway: Cybercrime will be included in Malaysia-Singapore cross-border crime cooperation , as the two countries prepare to renew their Memorandum of Understanding (MOU) on the matter. Malaysia’s Home Minister, Datuk Seri Saifuddin Nasution Ismail, announced that cybercrime will be a new focus in Malaysia-Singapore cross-border crime collaboration . The updated MOU will be signed on Nov 14 during Saifuddin’s meeting with Singapore’s Minister of Home Affairs and Law, K. Shanmugam. This move reflects the growing threat of cybercrime , which costs ASEAN an estimated US$64 billion annually. The agreement emphasizes capacity-building, intelligence-sharing, and joint operations as vital components for addressing cybercrime. The exchange of MOU documents will occur at the Annual Leaders' Retreat on Dec 8 in Malaysia, which will be attended by the prime ministers of both nations. Saifuddin also highlighted plans to discuss border congestion issues and will visit Singapore’s Immi
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China Edges Toward $1 Trillion Trade Surplus, Raising Global Trade Tensions

China is on track to achieve a record $1 trillion trade surplus in 2024, a shift likely to increase tensions with major economies. As of October, China’s trade surplus reached $785 billion, marking a 16% increase from 2023, driven by robust export volumes as domestic demand remains weak.

The surplus has led to significant imbalances with key partners: up 4.4% with the US, 9.6% with the EU, and nearly 36% with ASEAN nations. With President-elect Trump set to take office, experts anticipate new tariffs on Chinese goods, echoing protective measures already implemented by countries in South America and Europe.

Additionally, foreign direct investment (FDI) outflows from China are rising, marking a potential net FDI decline for the first time since 1990. In response, Beijing is promising increased support for industries to stabilize trade and employment.

A potential currency war looms, as a weaker yuan could make Chinese exports cheaper. India has signaled readiness to let the rupee weaken if the yuan falls further, as China’s surplus with India has already hit $85 billion this year.

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