Report: Malaysia Set to Join BRICS
Report: Malaysia Set to Join BRICS
The Facts
Malaysia will soon start the formal process to join the the BRICS group of emerging economies, the country's Prime Minister Anwar Ibrahim told Chinese media on Monday.
Malaysia will soon start the formal process to join the BRICS group of emerging economies, the Southeast Asian country's Prime Minister Anwar Ibrahim told Chinese media on Monday.
The Spin
Malaysia's desire to join BRICS highlights the tectonic shifts in the global balance of power and the dawn of the multipolar age. Western economies used to dominate the world order, but now the BRICS are surpassing the G7 in terms of global economic output and continuing to reshape international relations in favor of the Global South. The hegemony of the West is finally over, and Anwar's statements, therefore, reflect economic pragmatism and strategic foresight.
While Malaysia may plan to join BRICS, this doesn't reflect the full picture of current trends. The headlines fail to mention the rising significance of the US market for ASEAN countries amid ongoing China-US trade tensions and economic shifts. For instance, Malaysia's exports to the US recently increased while exports to China declined. The US is still the most powerful country in the world, and Malaysia, an ASEAN country, shouldn't jeopardize its future due to ideological concerns.
