BRICS emerging economies meet as US trade war looms

Johannesburg (AFP) – Leaders of emerging BRICS countries – Brazil, Russia, India, China and South Africa – gathered in Johannesburg Wednesday for a three-day meeting on the threat of global trade led by the United States

The hardening of the position of US President Donald Trump worsened fears of a total trade war after imposing taxes on goods from China worth tens of billions of dollars and imposing tariffs on other imports

Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and Brazilian President Michel Temer will attend the annual summit, as well as several African leaders invited as a party. ; guests.

million. Xi has spoken with South African President Cyril Ramaphosa saying that "the Johannesburg Summit has a special significance for BRICS cooperation in the new circumstances".

South African Trade Minister Rob Davies opened the event Wednesday with a call for "The Checking of the Rules-Based Multilateral Trading System", which we all consider an important part of the world. commercial architecture ".

China rejected this week Trump's accusations that it was manipulating the yuan to give exporters an advantage Washington says it's determined to provoke a trade war

Trump said it's ready to impose tariffs on the $ 500 billion of Chinese imports, complaining that China 's trade surplus with the United States is due to unfair currency manipulation. The BRICS group, which represents more than 40% of the world's population, represents some of the largest emerging economies, but has struggled to find a unified voice – while achieving very different growth rates.

– The unity of the trade war?

Sreeram Chaulia, of the Jindal School of International Affairs, outside Delhi, told AFP that BRICS leaders "recognize that the US has unleashed punitive trade wars" They have a collective interest in promoting intra-BRICS trade, the urgency is this time greater, "he said.

Russian Minister of Economy Maxim Oreshkin said the week Lastly, the Johannesburg meeting was "about the context – we are at a time when the United States and China are announcing new measures almost every week. "

" It is a trade war, so the leaders' discussions are particularly important in coordinating our positions, "he added. (19659015) Mr. Xi arrived in South Africa after visiting Senegal and Rwanda as part of a tour aimed at cementing relations with African allies

The meeting opened Wednesday with a business forum, before the leaders of 39. State Do not Talk Thursday.

African leaders participating in a "BRICS Awareness" program on Friday include Paul Kagame of Rwanda, Joao Lourenco of Angola, Macky Sall of Senegal and Yoweri Museveni from Uganda.

"South Africa and Africa can benefit from growing exports to fast growing countries like India and China", Kenneth Creamer, economist in Johannesburg, Wits University, told AFP [19659016] "The BRICS have the strategic potential to redefine world trade."

Turkish leader Recep Tayyip Erdogan will also attend a summit as the current president of the Organization of Islamic Cooperation (OIC). will meet Putin on the sidelines of the summit.