China’s Xi opens BRICS summit in South Africa

AFRICA BRICS CHINA invest

China’s President Xi Jinping Wednesday opened BRICS summit of emerging economies in South Africa’s main city, Johannesburg, with a warning that the world is facing a choice between cooperation or confrontation.

In a speech aimed largely at the Trump administration in the US, President Xi said there could be no winner in any trade war.

He believed the countries taking part in the summit – China, Russia, India, Brazil and South Africa – should be resolute against closed-door protectionism.

A unified voice

The BRICS group comprises more than 40 per cent of the global population.

Analysts say its members have struggled to find a unified voice, but their common opposition to US trade policy could help to galvanise them.

In Summary

  • The BRICS group comprises more than 40 per cent of the global population
  • BRICS should be resolute against closed-door protectionism

 

PHOTO | AFP      China’s President Xi Jinping addresses a Business Forum during the 10th BRICS (acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China and South Africa) summit on July 25, 2018 at the Sandton Convention Centre in Johannesburg, South Africa.

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