Why do Southeast Asian Nations Want to Join BRICS?

General Studies Paper-2

Context: The Southeast Asian countries like Malaysia and Thailand wants to join BRICS grouping

About

• Earlier, BRICS — an acronym that was originally used to refer to Brazil, Russia, India, China, and South Africa — decided to expand its membership, inviting Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to join the bloc.
• The name for the expanded group has not yet been officially announced, but it could be called “BRICS+.”
• China is a major trading partner for the region, and maintaining strong trade relationships with China is crucial. Joining BRICS could enhance these economic ties and provide additional trade benefits.

What are the key benefits of Joining BRICS?

• Strengthening Trade Ties with China: As China is a significant trading partner for Malaysia and Thailand, joining BRICS could further solidify and possibly expand these trade relationships.
  • The BRICS bloc “can help Malaysia’s digital economy grow faster by allowing it to integrate with countries that have strong digital markets and also take advantage of best practices from other members. And, Thailand would also be able to draw investments in important industries including services, manufacturing, and agriculture.
• Geopolitical Influence: BRICS promotes a multipolar world order, challenging the dominance of Western powers. Southeast Asian nations can leverage this to enhance their autonomy and negotiate better terms in international relations.
• South-South Cooperation: BRICS emphasizes South-South cooperation, fostering collaboration among developing countries. Southeast Asian nations can learn from BRICS’ experiences in areas like poverty reduction, infrastructure development, and technological innovation.
• Diversifying Economic Partnerships: BRICS membership allows countries to engage with a diverse group of emerging economies, reducing over-reliance on traditional Western trade partners and opening new avenues for trade and investment.
  • By diversifying their economic partners, these Southeast Asian nations can increase their economic resilience against global market fluctuations.
• Aligning with BRICS Principles: BRICS emphasizes principles like respecting sovereignty and accommodating diversity, aligning with the values upheld by ASEAN. This resonance can foster strong international cooperation and policy support.
  • Being part of a collective that shares similar principles can lead to mutual support on international platforms, enhancing the countries’ geopolitical influence.

Significance for India

• The expansion of BRICS holds significance for India in terms of expanding partnerships and geopolitical influence, while also raising concerns about potential pro-China dominance within the alliance.

Challenges

Geopolitical Challenges:

• Balancing Act with Existing Alliances: Many Southeast Asian nations have strong ties with the US and other Western powers. Joining BRICS might strain these relationships, requiring a delicate balancing act to maintain existing alliances while pursuing new partnerships.
• Tensions within BRICS: The diverse geopolitical interests of BRICS members, particularly the rivalry between India and China, could create challenges for Southeast Asian nations in aligning their interests with the group’s broader goals.

Economic Challenges:

• Over-reliance on China: Joining BRICS could lead to increased economic dependence on China, potentially exposing Southeast Asian economies to vulnerabilities if relations sour or economic conditions in China fluctuate.
• Differing Economic Priorities: The diverse economic structures and development priorities of BRICS members could lead to conflicts of interest and challenges in coordinating economic policies.

Political Challenges:

• Domestic Opposition: Joining BRICS could face domestic political opposition from groups concerned about the potential negative impacts on existing alliances or the loss of policy autonomy.
• Compromising Values: BRICS’ approach to issues like human rights and democracy might not align with the values of some Southeast Asian nations, creating a potential conflict of principles.
• Limited Influence: Given the size and economic power of existing BRICS members, Southeast Asian nations might have limited influence within the group, potentially hindering their ability to shape its agenda.

Way Ahead

• Southeast Asian nations need to carefully assess the potential benefits and risks of joining BRICS. They should engage in thorough consultations with all stakeholders, including domestic political actors, civil society groups, and regional partners.