Xi urges fellow BRICS countries to reject go-it-alone trade

Share

The summit is running under the theme "BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the Fourth Industrial Revolution".

On the last leg of his trip, Modi on Wednesday visited South Africa where he attended the BRICS summit and also held bilateral meetings with Chinese President Xi Jinping, Russian President Vladimir Putin, South African President Ramaphosa, Turkish President Recep Tayyip Erdogan and other leaders.

Mr Trump has said he is ready to impose tariffs on all $500 billion of Chinese imports, complaining that China's trade surplus with the United States is due to unfair currency manipulation.

Prime Minister Narendra Modi of Republic of India, H.E Xi Jinping of the People's Republic of China and H.E Cryil Ramaphosa of the Republic of South Africa.

Five of the biggest emerging economies Thursday stood by the multilateral system and vowed to strengthen economic cooperation in the face of US tariff threats and unilateralism.

The BRICS goals and aspirations resonate with President Mnangagwa's vision of modernisation and industrialisation and he told the summit that he feels privileged to be sharing views and seeking ways to foster inclusive growth with them.

Dominic Raab reassures United Kingdom there is 'adequate food supply' if No Deal
There are growing fears now that Britain could leave without any deal, and both sides are stepping up contingency plans.

South African Trade Minister Rob Davies said Africa's most industrialised economy was being hurt in collateral damage.

The agreements which are set to be signed between emerging markets at the Brics Summit under way in Sandton, north of Johannesburg, are likely to benefit poor South Africans.

"China is ready to invest and work with South Africa in various sectors, such as infrastructure development, ocean economy, green economy, science and technology, agriculture, environment and finance", Ramaphosa told reporters. "President Ramaphosa and I had a very productive discussion during which we discussed further taking forward our strategic partnership".

Bowen Media's source also commented on contemporary thinking in the North Korean leadership, saying that the situation in North Korea is becoming more confusing, with economic liberalization, reforms and economic development becoming increasingly spoken about at the high level.

In economic terms, BRICS countries account for about 30 per cent of global gross domestic product (GDP) and these countries control some 43 percent of global foreign exchange reserves. Modi arrived here from Uganda's capital Kampala, the first bilateral tour by an Indian prime minister since 1997.

Share