Indonesia, the largest economy in Southeast Asia, joins BRICS.

Indonesia’s membership significantly bolsters BRICS’s economic clout, as the group now represents 37.3% of global GDP. This move comes as Indonesia aims to amplify its economic influence by aligning with emerging economies, thus reflecting a strategic shift in geopolitical power dynamics.

BRICS plans to lower dependency on the USD by developing ‘BRICS Bridge’ for blockchain-based payments, signaling Indonesia’s alignment with this initiative. The group is also contemplating a new reserve currency backed by a basket of member currencies and possibly gold, indicating a transformative step in financial systems.