Recently, during a meeting between the finance ministers and central banks of ASEAN countries, a decision was made to reduce reliance on the US dollar and to reinforce the use of local currencies in intraregional trade.
Segi Enam's Khor Yu Leng said to China Daily:
…the plan to shift to local currency-based transactions shows that the ASEAN has acknowledged changing commercial and geopolitical realities.
"A bifurcated or multipolar approach would reduce trade and currency-related risks."
This also aligns with Southeast Asia's "balancing role" in global geopolitics.
Read more about it here.