KUALA LUMPUR: The ringgit continued its downtrend today amid a weaker global economy due to the lingering concerns on the Covid-19 outbreak.
IHS Markit in its research note said, compared to during the similarly-alarming Severe Acute Respiratory Syndrome pandemic, China’s role in the global economy this time around has significantly increased. “It is a key country for industrial production and is important for global value chains. China’s role globally and in the South Asian region is currently much greater than in 2003 and the region’s economies are more interlinked,” it said.
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