BRICS countries are considering significantly increasing their GDP through the latest expansion strategy, with a focus on Southeast Asian countries as potential new members. This move could have far-reaching implications for the global economy and the geopolitical status of the alliance.
The combined GDP of Southeast Asian countries is approximately $3.67 trillion, a figure that has been steadily growing in recent years. The Association of Southeast Asian Nations (ASEAN), which has included countries such as Brunei, Indonesia, Malaysia, and Vietnam since its establishment in 1967, plans to join the BRICS countries and seeks sustained economic growth and integration.
BRICS countries can benefit greatly from the huge economic contributions of ASEAN. Recent reports indicate that countries like Malaysia and Thailand are actively seeking to join, viewing BRICS as a strategic counterbalance to Western-dominated institutions.
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The Atlantic Council’s Geoeconomics Center, as well as
emphasizing
the changing dominant position of the US dollar in the global financial system, highlights the potential future role of regional currencies in international transactions. This aligns with ASEAN’s efforts to strengthen its currency and reduce dependence on the US dollar.
BRICS countries have recently expanded to include countries like Iran and the UAE, suggesting further growth on the horizon. The efforts to expand the alliance reflect a broader trend towards diversifying global economic influence and reducing reliance on the traditional Western financial system.
