Kuala Lampur, Oct. 27 -- The world came dangerously close to the edge of a global economic crisis this month. Tariffs were rising again, supply chains were splintering, and the fragile recovery from years of inflationary shocks looked ready to unravel. Yet, over the past week, a quiet series of diplomatic moves helped the world breathe easier - and Asean, under Prime Minister Datuk Seri Anwar Ibrahim's chairmanship, deserves much of the credit.

At the 47th Asean and Related Summit, Malaysia wove together a web of initiatives that diffused tensions between the two largest economies - the United States and China - while stabilising energy, trade, and investment flows vital to the Global South. The summit's outcomes may not have carried gra...