BRICS is a bad bet for ASEAN economies

 

BRICS is a bad bet for ASEAN economies

Several Southeast Asian countries, including Malaysia, Thailand, the Philippines, and Vietnam, are considering joining the BRICS economic bloc for potential trade and investment benefits, writes Doris Liew, an economist and assistant research manager at IDEAS Malaysia.
 
 However, Liew argues that the economic, geographic, and geopolitical challenges of BRICS membership may outweigh the benefits, as the diverse and dispersed nature of the bloc's members hinders effective cooperation and trade.
 
"Joining BRICS could also constrain a country's diplomatic flexibility," Liew warns, suggesting that Southeast Asian countries should instead focus on regional trade agreements like RCEP and ASEAN+1, which offer more balanced economic opportunities without the geopolitical risks associated with BRICS.