Brics returns to "the open global economy" that benefits all nations

The leaders of the emerging economies Brics signed a statement outlining the importance of an" open world economy "in which all countries benefit from globalization.

Brazil, Russia, India, China and South Africa also supported an "open and inclusive" multilateral trading system under WTO rules. the World Trade Organization

but they claim that the multilateral trading system is facing unprecedented challenges.

The leaders met at the 10th Brics Summit in Johannesburg

• The United States and the United States EU withdraw from trade

• What is a commercial war and why should I worry ["Wereaffirmthecentralityofthemultilateraltradesystembasedontherulesoftheopendiscriminatoryandinclusivesystem"hesaid"TheWorldTradeOrganizationwhichfavorsapredisposedtradeintheenvironmentandtheWTO"saidthestatementissuedbythefiveleaders

  However, they added: "We recognize that the multilateral trading system is facing unprecedented challenges. "

  emphasize the importance of an open global economy, allowing all countries and all peoples to share the benefits of globalization, which should be inclusive and support the sustainable development and prosperity of all countries.

  "We call on all WTO members to respect WTO rules and to honor their commitments in the multilateral trading system."

  "Reject protectionism" [19659012] The Brics Summit is the first It promised additional levies on Chinese products of 200 billion dollars (150 billion pounds sterling) in September.

  Mr. Trump also wants to reduce the trade deficit with China – a country he accused of unfair trade practices before he became president.

  Mr. Trump made a big effort on the electoral campaign to reduce the country's trade deficits.

  It isconvinced that they hurt the American manufacturing sector, and repeated several times, in campaign and on Twitter, that the United States had to do more to counter them

  Speaking Thursday in Johannesburg, the President Chinese Xi Jinping He said: "We must work together … to protect the rules-based multilateral trading regime, promote trade and investment, globalization and facilitation, and outright reject protectionism" .

  On Wednesday, he declared that there would be no winner in a global trade war.