Malaysian Prime Minister Anwar Ibrahim said the world needs to see ASEAN on how to challenge the US dollar. He said in his speech on Sunday that Brock is challenging Western domination without dignity and noise. He urged emerging economies to set aside the dominant financial class in the West and follow the lawsuit. The bold move comes despite Trump threatening a nation leaving the USD.
In his speech, Ibrahim said that ASEAN countries are trying to avoid using the US dollar in trade between member states. “We want to make sure we speak from our position of strength, not as a former colonial country of ex-Week, but as an independent country with a specific position.” He said, and continued, “We have to be united. Based on multilateral arrangements, we have to speak as one.” He said at a recent summit.
ASEAN countries take steps to move away from the US dollar
The Malaysian Prime Minister said ASEAN plans to implement the idea to move away from the US dollar. At the 2025 summit in May, ASEAN members agreed to settle many cross-border transactions in local currency. The move was set to strengthen the native economy and increase GDP.
He said that ASEAN’s collective strength can counter the US dollar’s advantage in global trade. “It makes a difference because we can’t complain without carrying out plans with both ourselves and our friendly neighbors. Its collective strength allows us to negotiate the world safely, fairly and fairly, and equally with all partners in our multilateral system.”
The ASEAN Alliance is a association of 10 member states that emerge from the southeastern regions of Asia. The ten countries in the bloc include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
