PETALING JAYA: Malaysia’s inclusion in the BRICS group of emerging economies will have minimal impact on its longstanding relationship with the US, says an academic.
Malaysia and Thailand are the latest nations to express interest in joining the expanded BRICS alliance, which is focused on reducing global dependency on the US dollar, potentially reshaping the international economic order.
“Investment from the US into Malaysia has continued unabated even after Malaysia joined the Belt and Road Initiative in 2015 and the Asian Infrastructure Investment Bank in 2017. These initiatives can be taken to be more directly under the influence of China, given that country’s leadership role in both initiatives.“Yet, this also did not affect relations between Malaysia and the US.
Several quarters have been urging Putrajaya to scrap a plan to privatise Malaysia Airports Holdings Bhd due to one of the proposed shareholders’ ties with BlackRock, which has been accused of “profiteering from genocide” through its stakes in US defence firms that allegedly manufacture weapons used by Israel.
“How the Anwar administration handles this issue, as well as its relationship with US firms, is much more important for its economy.”
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