Geopolitics & Geo-Economics: Indonesia Officially Becomes a Full Member of the BRICS Bloc
When Indonesian President Prabowo Subianto made his first speech as president on 20 October 2024, he stated that Indonesia seeks a “free and active non-aligned path. We don’t want to join any military pacts, [instead] we choose a friendly path with all countries.”
With these sentences fresh in mind, we were actually surprised to learn that Indonesia officially became a member of the BRICS bloc (an intergovernmental organization that is considered an alternative to the G7 bloc). This message about Indonesia entering the BRICS bloc was announced by Brazil (which currently holds chairmanship of the bloc) on 6 January 2025.
Moreover, Prabowo’s predecessor, Joko Widodo, preferred not to join the BRICS bloc (yet), and instead to study to what extent the membership would benefit Indonesia. Prabowo, however, acted much faster, arguing that membership will bring economic advantages to Indonesia.
Whether this is a policy flip-flop, is unclear. Indeed, Prabowo stated that he favors a “free and active non-aligned path” for Indonesia, but in the next sentence he stated that he doesn’t want Indonesia to “join any military pacts”. Therefore, it could be the case that he exclusively referred to military blocs (such as NATO) during the speech at his inauguration in October 2024 (while BRICS is not a military bloc).
What Is the BRICS Bloc and Its Role on the Global Stage?
It is ironic that the BRICS bloc was (sort of) created by Western financial capitalism. In 2001 Goldman Sachs economist Jim O'Neill first coined the term BRIC, an acronym that stood for Brazil, Russia, India, and China. O’Neill grouped these countries for the purpose of investment strategies as the four emerging markets were regarded rising economic powers, all at a similar stage of newly advanced economic development. The term BRIC then became a popular term in the 2000s and 2010s among investors.
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