Higher risk of U.S. recession to impact emerging economies: Malaysian analyst

STORY: Higher risk of U.S. recession to impact emerging economies: Malaysian analyst DATELINE: Aug. 3, 2022 LENGTH: 00:01:57 LOCATION: Kuala Lumpur CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): LEE HENG GUIE, Director of Socio-Economic Research Centre (SERC) STORYLINE: A Malaysian analyst has warned the higher risk of recession in the U.S. will negatively affect the global economy, with the fallout expected to impact emerging economies like Malaysia. SOUNDBITE (English): LEE HENG GUIE, Director of Socio-Economic Research Centre (SERC) "I think it's a tough job for them (the U.S.) to engineer a soft landing because of the aggressive interest rate hike and also the high inflation. I see the risk of recession in the U.S. is higher now. The impact of the U.S. economy slowing down or even the recession condition will impact on the Malaysian economy and ASEAN economy through two channels. The first channel is the external trade channel, which means a slowdown of the U.S. consumers' spending will lead to