Delicate balancing act for Malaysia if it joins BRICS

Free Malaysia Today

Malaysia will need to tread carefully to avoid antagonising the US and its Western allies.  Read More: https://www.freemalaysiatoday.com/category/highlight/2024/06/19/delicate-balancing-act-for-malaysia-if-it-joins-brics/    Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTBusiness #BRICS #Malaysia #US

Transcript

00:00An analyst with the Malaysian Institute of Economic Research has welcomed Malaysia's

00:07unexpected decision to join BRICS.

00:10Speaking to FMT Business, Shankaran Nambia said Malaysia's decision to join the trade

00:15bloc meant it wants to be on the side of other fast-developing economies, adding that the

00:20country's participation will set the narrative for the next 50 years.

00:24BRICS, a bloc of rising economies spearheaded by Russia and China to challenge the world

00:30order dominated by the US and its Western allies, was founded in 2009 and expanded in

00:35January 2024 when Iran, Saudi Arabia, the UAE, Egypt and Ethiopia joined as new members.

00:43Nambia agreed that Malaysia's decision to join BRICS suggests that ASEAN nations are

00:47hedging their bets to de-dollarise given that Washington has weaponised the US dollar through

00:52the increasing use of unilateral sanctions.

00:55Nambia said Prime Minister Anwar Ibrahim had stated that Malaysia should explore de-dollarisation

01:00and even supported the idea of an Asian Monetary Fund.

01:03However, Pacific Research Centre of Malaysia Principal Advisor OE Sun is not in favour

01:08of the de-dollarisation initiatives by ASEAN.

01:11He was also dismissive of Malaysia's plan to join BRICS, calling it a somewhat desperate

01:16decision.

01:17However, he said that if joining BRICS would please the larger BRICS economies and encourage

01:21them to invest more in Malaysia, then so be it.

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