https://asiatimes.com/2024/06/southeast ... -to-brics/
In recent days, Malaysia detailed its ambitions to join Brazil, Russia, India, China and South Africa. Thailand and Vietnam are also among the Association of Southeast Asian Nations members expressing similar interest.
In Indonesia, there’s growing awareness that Argentina, Egypt, Ethiopia, Iran, United Arab Emirates, Saudi Arabia and other “Global South” nations have a point in vying to join this burgeoning intergovernmental organization.
During an interview with Chinese media ahead of Li Qiang’s visit to Malaysia, Prime Minister Anwar Ibrahim declared his intention to join the bloc after it doubled in size over the last year. That dynamic is luring Global South nations — partly by offering access to financing but also by offering a political movement independent of Washington’s influence.
“We have made our policy clear and we have made our decision,” Anwar tells Chinese media outlet Guancha. “We will start the formal process soon. As far as the Global South is concerned, we are fully supportive.”
Anwar gave a shoutout to Brazilian President Luiz Inacio Lula da Silva, who is determined to end the dollar’s dominance.
“Last year, Malaysia had the highest investment ever, but the currency was still attacked,” Anwar explains. “Well, it has eased in the past few weeks. But it doesn’t make sense, it goes against basic economic principles.”
Anwar notes that the question is: Why? “A currency that is completely outside the trade system of the two countries and is irrelevant in terms of economic activities in the country, has become dominant, purely because it is used as an international currency,” he says.
In late May, Thailand announced it’s applying for BRICS inclusion in part to boost its presence on the world stage. If approved, Bangkok would likely become the first ASEAN economy added.
“Thailand views that BRICS has an important role to play in strengthening the multilateral system and economic cooperation between countries in the Global South, which aligns with our national interests,” notes Foreign Ministry spokesperson Nikorndej Balankura. “As for economic and political benefits, joining BRICS would reinforce Thailand’s role on the global stage, and strengthen its international cooperation with emerging economies, especially in trade, investment and food and energy security.”
Soumya Bhowmick, an associate fellow at the Observer Research Foundation think tank, says Thailand’s bid supports Beijing’s broader strategic goals of expanding Chinese economic influence in Southeast Asia.
Statistics: Posted by ricky_v — 30 Jun 2024 05:05