S-E Asia’s Brics interest raises eyebrows as largest Asean members stir the US-China balancing act
Status check: Indonesia snags full membership; Thailand partners up; Malaysia, Vietnam stay in the wings; others wait and see
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SOUTH-EAST Asia’s two largest economies are the newest recruits of Brics, lending significant clout to the bloc that already commands more than 40 per cent of the world’s gross domestic product as it seeks to strengthen its role as a counterbalance to the West.
Thailand on Jan 1 confirmed it had joined Brics as a partner country; the kingdom is South-east Asia’s second-largest economy.
Indonesia was hot on its heels, announcing its full membership in Brics on Jan 7. The regional economic heavyweight accounts for about a third of Asean’s combined GDP and is South-east Asia’s largest market, with a young and growing population of 280 million.
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