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  • Malaysia may be heading for an early election, but beneath the surface ethnic tensions are brewing.
  • These tensions are coupled with rising religious conservatism, particularly among Malaysia’s youth.
  • Governance is likely to become more religious, to fend off Islamist parties, hurting long-term growth.

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Keywords for: 18 May 2026 Emerging Asia Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence