Vietnam Joins BRICS As 10th Partner Expanding Global South Influence

Vietnam has officially joined the BRICS bloc as its 10th partner, marking a significant expansion of the group's influence and reach. This move is part of a broader effort to strengthen ties among nations in the Global South, fostering greater economic cooperation and political alignment. Vietnam's inclusion in BRICS, which now comprises 10 nations, is expected to accelerate momentum for the bloc's initiatives and enhance its global standing.

Vietnam's entry into BRICS allows the country to participate in the bloc's summits and other discussion sessions, providing a platform for deeper engagement with other member nations. This status is particularly significant as it enables Vietnam to contribute to and benefit from the collective efforts of BRICS countries in areas such as economic development, trade, and technology.

The expansion of BRICS to include Vietnam underscores the bloc's growing influence as a global powerhouse. The group's efforts to strengthen ties among nations in the Global South are aimed at counterbalancing the dominance of Western economies and promoting a more equitable global economic order. By welcoming Vietnam, BRICS is not only expanding its membership but also enhancing its strategic position in Southeast Asia, a region of increasing geopolitical importance.

Vietnam's inclusion in BRICS is part of a broader trend of emerging economies seeking to assert their influence on the global stage. The bloc's focus on economic cooperation and development aligns with Vietnam's own strategic goals, which include fostering economic growth, attracting foreign investment, and enhancing its technological capabilities. By joining BRICS, Vietnam gains access to a network of countries that share similar objectives and can provide support in achieving these goals.

The addition of Vietnam to BRICS also reflects the bloc's commitment to promoting industrial policy and economic development in the Global South. Industrial policy has become a key tool for many developing countries seeking to integrate into global value chains, attract foreign investment, and enable green industrialization. Vietnam's participation in BRICS will allow the country to leverage the bloc's collective resources and expertise in these areas, further enhancing its economic prospects.

However, the expansion of BRICS and the promotion of industrial policy also raise questions about the potential for competition and conflict among member nations. As countries in the Global South seek to attract investment and secure strategic assets, there is a risk of a race to the bottom, where nations compete for limited resources and opportunities. This dynamic could lead to increased tensions and instability, particularly in regions where multiple countries are vying for the same economic advantages.

In conclusion, Vietnam's entry into BRICS as its 10th partner marks a significant milestone in the bloc's efforts to strengthen ties among nations in the Global South. By welcoming Vietnam, BRICS is not only expanding its membership but also enhancing its strategic position in Southeast Asia and promoting economic cooperation and development. However, the bloc's expansion also raises questions about the potential for competition and conflict among member nations, highlighting the need for careful management of these dynamics to ensure sustainable and equitable growth.