Report: Malaysia Set to Join BRICS

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Facts

• Malaysian Prime Minister Anwar Ibrahim told Chinese media on Monday that the Southeast Asian country will soon start the formal process of joining the BRICS group of emerging economies.¹
• In an interview with Guancha, Anwar said that the decision to join the bloc had already been made and that Kuala Lumpur was now awaiting 'the final results from the government in South Africa.'²
• Anwar added that Malaysia's potential membership in BRICS would be strategically important given its location on the Strait of Malacca, a major shipping route that links the Pacific and Indian Oceans.³
• The Malaysian leader also echoed Brazilian Pres. Luiz Inácio Lula da Silva's comments — voicing criticism of the US dollar's centrality to global trade.⁴
• Anwar's remarks came ahead of Chinese Premier Li Qiang's three-day visit to Malaysia this week. Both sides are expected to sign the second cycle of the bilateral Five-Year Programme for Economic and Trade Cooperation.⁵
• Originally formed by Brazil, Russia, India, and China, the BRICS group was founded in 2009, with South Africa joining in 2011. In January this year, the intergovernmental organization expanded to include Egypt, Ethiopia, Iran, and the UAE.⁶

Sources: ¹Reuters, ²The Economic Times, ³Thesun.My, ⁴Al Jazeera, ⁵The Edge Malaysia and ⁶TASS.

Narratives

• Establishment-critical narrative, as provided by The Star. 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.
• Pro-establishment narrative, as provided by Eurasiantimes. 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.

Predictions