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Chinese President Xi Jinping, in the center, inspects the guard of honor at an official welcoming ceremony in government buildings in Pretoria, South Africa, Tuesday, July 24, 2018 Jinping is in the country to attend the BRICS summit starting Wednesday in Johannesburg. (Themba Hadebe / Associated Press)
by Christopher Torchia | JOHANNESBURG – Russian President Vladimir Putin, Chinese President Xi Jinping and other leaders of the emerging economies of the BRICS meet in South Africa for a summit likely to criticize US President Donald Trump
Tariffs and Titan taxes for US trading partners are fueling global concern for economic growth, particularly in developing countries that are highly dependent on exports.
With Washington, the world-renowned BRICS group could focus on the other multilateral institutions that guide world trade.
Its members – Brazil, Russia, India, China and South Africa – host 3 billion people. about 40% of the world's population, with political systems ranging from democratic to authoritarian. China and India, the two most populous countries, have a border dispute. South Africa has expressed concern over a trade imbalance with China, its largest trading partner.
Despite their differences, the BRICS countries are likely to find a common denominator of "protectionism", the label affixed to US policies.
The Chinese ambbadador to South Africa set the tone in an article published in The Star, a South African newspaper
The BRICS countries should cooperate to counter a "superpower" that has "recklessly Ambbadador Lin Songtian wrote:
At a meeting of a weekend of the Group of 20 Nations in Argentina on Sunday, US Treasury Secretary Steven Mnuchin disputed the fact that protectionism was the only way to promote multilateralism.Trade should be conducted on "fair and reciprocal conditions." The G20 is composed of international powers like the United States, Japan, and Germany as well as countries like China, Brazil, India and Argentina.
Trade measures of the Trump administration include duties on steel and aluminum. China is the main target, but American allies such as Unio European countries and Japan are also subject to them.
BRICS countries are concerned about "growing protectionism" and will work "to strengthen areas where their interests align". Cyril Prinsloo, researcher at the South African Institute of International Affairs, Johannesburg-based research center
Chinese President Xi held talks in South Africa with President Cyril Ramaphosa on Tuesday, before the start of the summit BRICS of three days. Wednesday. The two countries have signed investment agreements worth $ 14 billion, said Ramaphosa
The other leaders of the BRICS are Indian Prime Minister Narendra Modi and Brazilian President Michel Temer. Turkish President, Recep Tayyip Erdogan, should also attend
The BRICS summit comes at a time of increasing "unilateralism" and offers member countries the opportunity to advocate for a "bigger role" in global affairs ". Gamet, Chief of Asia for the Standard Bank Group
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Follow Christopher Torchia on Twitter at www.twitter.com/torchiachris
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