AS the global economic and political landscape evolves, the Philippines must now consider joining Brics, a bloc of countries striving to establish a multipolar world order, a Manila-based think tank suggested.
The Asian Century Philippines Strategic Studies Institute is advocating for the country to engage with Brics members to open doors to alternative trade routes, financing mechanisms and collaborative projects outside of traditional Western partnerships.ACPSSI President Herman Tiu Laurel underscored this stance in an interview with The Manila Times, emphasizing that joining Brics could enhance the country's economic independence while still maintaining important ties with the United States.
He noted member countries are working on developing a new reserve currency to reduce reliance on the US dollar, an initiative that may bolster their economic sovereignty.'For the Philippines, aligning with this mission could strengthen its bargaining position on the international stage, particularly with new opportunities to trade, secure financing and enter collaborative projects that don't solely rely on Western financial systems,' said Tiu Laurel.
Brics Viable Option Says Think Tank
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