马来西亚债务问题政治化：“债务陷阱论”凸显的根源

Politicization of Malaysia’s Debt Issue: the Root Cause of “Debt Trap Theory”

通过梳理、分析马来西亚债务规模和债务结构,客观看待马来西亚国家债务的现状,进而对其国家债务风险进行分析与判断。诚然,自2007年以来,马来西亚国家债务有所增加,债务风险有上升趋势。但是,目前其国家债务风险总体可控,系统性风险相对较小。然而债务问题的政治化,使“债务陷阱论”在马来西亚债务问题上日益凸显。无论是债务问题上的国内政治化、债务国与债权国关系的政治化,还是国际政治化,都使该国的债务问题被强行赋予了经济之外的政治含义,对马来西亚国家发展、中马关系和中国与“一带一路”倡议沿线国家合作产生了一定的负面影响。避免债务问题政治化,正视其本质与根源,加强同中国在经贸领域和债务治理上的合作,是马来西亚解决和防范债务问题的应循途径。当前,马来西亚当局日益表现出超越债务问题政治化的趋向。中马双方以合作促发展,不但是解决马来西亚债务问题政治化的最佳途径,也为中马两国在债务治理问题上提供了更为广阔的合作空间。

Malaysia’s debt issue has attracted growing international as well as domestic attention and given rise to heated debates.This article examines the state of Malaysia’s debt issue,especially its scale and structure.Malaysia’s national debt has been growing since 2007 but the debt risk is generally under control and there is little likelihood of a systemic risk.However,the politicization of the debt issue has given rise to a"debt trap conspiracy theory,"accusing China of creating a debt crisis to gain diplomatic leverages.A politically-charged financial issue which is increasingly exaggerated in a smear campaign against China will only undercut China-Malaysia relations in particular and BRI cooperation in general.Financial issues can only be solved through financial approaches.Politicization will only whip up negative mutual feelings.The only viable option is for Beijing and Kuala Lumpur to tackle the issue at its root in a rational manner.