Malaysia, Thailand Declare Intentions to Join BRICS Ahead of Russia Summit

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For countries looking to mitigate the economic risks of intensifying U.S.-China competition, joining BRICS is an attempt to straddle some of those tensions. Photo: Bloomberg

(Bloomberg) — As Premier Li Qiang and Russian President Vladimir Putin wrapped up separate meetings in Southeast Asia this week, the two partners in the BRICS economic bloc encountered a region keen to join a group seen as a hedge against Western-led institutions.

During an interview with Chinese media ahead of Li’s visit to Malaysia, Prime Minister Anwar Ibrahim declared his intention to apply to the bloc after it doubled in size this year by luring Global South nations — partly by offering access to financing but also by providing a political venue independent of Washington’s influence.