The region—home to the world’s major powers including the United States, China, India, Japan, and Russia—is fast becoming the geopolitical axis in 21st-century.
Until recently, global governance has largely been Western-led, with Geneva hosting the World Trade Organization (WTO) and New York seating the United Nations (UN).
However, as the world transitions into a multipolar era, the centre of gravity is shifting eastward, with trade, technology, energy, security and supply chains converging on the Indo-Pacific.
Centre of gravity
Home to four of the world’s largest economies—the US, China, India and Japan, the Indo-Pacific also houses nearly two-thirds of the global population.
The region generates 62% of global GDP and facilitates nearly half of all international trade, anchored by strategic maritime chokepoints such as the South China Sea, the Straits of Malacca, and vital routes across the Indian and Pacific Oceans
But as competition between the US and China intensifies, the risks of great-power clashes, political and economic system fragmentation, and proxy confrontations are rising.
Asean’s role in a divided world
Asean’s unique convening power allows it to act as a neutral, honest broker.
Malaysian foreign minister Mohamad Hasan highlighted this at September’s UN General Assembly, saying that Asean “did not stand idle” when regional conflicts threatened stability.
“The South China Sea must not be used as leverage for strategic competition. Southeast Asia and its waters cannot become a theatre for rivalry between superpowers,” he said, stressing Southeast Asia’s right to determine its own destiny.
The upcoming summit is being held amid waning trust in global institutions, with regional mechanisms having to fill gaps left by the WTO and the UN Security Council.
In an interview with FMT, New Zealand Prime Minister Christopher Luxon stressed that smaller nations like New Zealand and Malaysia cannot afford to sit back as geopolitical competition heats up.
“Our future really lies in the Indo-Pacific region. The international rules-based system, which has served the Asean countries incredibly well over the last 70 or 80 years, is breaking down. What we’re seeing increasingly is that might and power matter more than rules.
“I think, absolutely, there’s a huge opportunity for us to reaffirm the rules-based system,” he told FMT.
Luxon added that Asean, the European Union, and trade blocs like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have a crucial role in shaping cooperation amid mounting pressure in global markets.
A summit to shape a shifting order
The summit will bring together major powers, including US President Donald Trump, China’s Premier Li Qiang, and Italy’s Prime Minister Giorgia Meloni, alongside representatives from all five BRICS and BRICS+ member nations.
While Asean’s model of regionalism has faced pressure in recent years, it remains one of the few platforms where rival major powers continue to engage.
The theme of Malaysia’s chairmanship—Inclusivity and Sustainability—prioritises practical deliverables: the Asean-GCC-China Summit, the Asean Community Vision 2045, the Asean Geoeconomics Task Force, the Digital Economy Framework Agreement, and welcoming Timor-Leste into the bloc.
Asha Hemrajani of Singapore’s S Rajaratnam School of International Studies told FMT of the region’s economic potential.
“Asean’s collective digital economies could reach US$1–2 trillion once the Digital Economy Framework Agreement is finalised,” she said.
Asean Business Advisory Council head Nazir Razak stressed the urgency of the moment.
“As the new world order takes shape, how we behave in the next few years is more important than ever,” said Nazir.
Malaysia’s role, Asean’s opportunity
For Malaysia, hosting the 47th Summit is not just about chairing the bloc—but about helping to ensure the Indo-Pacific’s cohesion amid global turbulence.
Asean is the platform where rival powers engage, while the larger Indo-Pacific region is where the rules, or lack thereof, will shape long-term outcomes.
While the summit is unlikely to overhaul global governance, it will serve as a test of Asean’s ability to convene, coordinate and de-risk amid global turbulence.
In a region where stakes are high, the bloc’s capacity to maintain cooperation has never been more critical.