11/03/2024

BRICS - Singapore out in the cold

 Singapore has always played the role of a cheer leader or pipe piper in Asean. At time talking or acting like the de facto leader until the other members started to give it the dirty look. Singapore is always in the thick of things, participating in major international events, in international organisations actively and in a way smugly. The other Asean members often look at Singapore with envy, especially in relations with the American Rules Based Order. Wherever the Americans make their presence, Singapore would be there holding to the coat tail.

For a while, the issue of membership to BRICS were quite sensitive as if joining BRICS would be a threat to Asean unity and Singapore should not take the lead to create more division in Asean. So, if Singapore were to stay clear of BRICS, then Asean's unity and neutrality would be safe. How this thought of Singapore taking a leap into joining BRICS and undermining Asean unity and neutrality came about was likely from the bananas. BRICS to the bananas tantamounts to an affront to the American Rules Based Order that cannot be undermined. The rest of the Asean members were seen as followers, wait and see for someone to take the lead, though Indonesia had made its intent to join BRICS earlier but then remained very silent about it, as if giving up the idea.

Then came the Special Operation by Russia and Singapore stood up, the only opposing voice in Asean, to sanction Russia and frozen its assets. Obviously Russia was angry but nothing much to it followed till the last months of the BRICS Summit in Kazan when Russia made a statement that countries that sanctioned Russia would not be allowed to join BRICS. Russia even came out with a list of countries it regarded as hostile or unfriendly to Russia. Singapore's name was in it.

The BRICS Summit in Kazan had concluded and to the surprise of all Asean members, 4 of Asean biggest economies, Indonesia, Thailand, Malaysia and Vietnam are admitted as partners of BRICS. Singapore was not in the picture. This is the first time that happened to Singapore. Singapore found itself in a strange corner, in a situation that it was not accustomed to. Silence is the order of the day. No one say anything about it publicly or officially, not even among Asean members. But the shock has not gone unnoticed though unspoken.

Singapore has been left out in a major international event, in a major international organisation, out in the cold. BRICS is mainly a financial and economic organisation, pushing for an alternative banking and financial system, new currency, new payment system, and an economic bloc of countries wanting to trade among themselves. As an international trading hub, as a financial centre, Singapore is in a very odd situation. It could not participate in these new developments. Its position as a trading hub, as a financial centre would definitely be affected not in a favourable way. And there is no light at the end of the tunnel for Singapore to sneak back into the BRICS new world system. The advantages and terms favouring the BRICS members and partners would not be available to Singapore. And with BRICS gaining strength and influence in the Global South, it would be the main competitor to the American hegemonic Rules Based Order that would end up with the G7 and European community that would include Singapore and a few American allies. It would be a divided world between the two trading blocs of BRICS versus Rules Based Order American allies.

How would this affect Singapore's position in Asean or how would Asean's neutrality and unity be affected? It would be highly likely that Laos, Myanmar, Cambodia and Brunei would also follow to join BRICS in times to come. The impression or lie that Asean has a lot of members that are pro Americans and anti Russia and China does not look credible given the latest development. 

What do you think?


4 comments:

Anonymous said...

Singapore is already in BRICS, oops 'bricks' and mortar economy. Look around and tell me I am wrong.

Anonymous said...

Was hoping that some journalist (or any MPs) would ask our PM on what does he think about our 2 big neighbours being part of BRICS. What impact will it have on Singapore future economy. Whether he had any intention of applying to join by first removing the sanction Russia.

Anonymous said...

Too little too late. Doing so becomes 'unprincipled' instead of 'principled'. Right?

Anonymous said...

Jumping the gun may get killed instead.