Brics' emerging economies meet as the US trade war looms, government and the economy

Wed, Jul 25, 2018 – 11:29 AM

[JOHANNESBURG] Leaders of the emerging economies Brics – Brazil, Russia, India, China and South Africa – will meet in Johannesburg Wednesday for a three-day meeting focused on The hardening of US President Donald Trump's stance has worsened fears of a total trade war after taxing goods worth tens of billions of dollars from China and imposing tariffs on goods. 39, other international imports. Chinese President Xi Jinping, 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 guests.

million. Xi has spoken with South African President Cyril Ramaphosa on the eve of the meeting, saying that "the Johannesburg summit has a special significance for Brics cooperation in the new circumstances".

China rejected this week Trump's accusations that it was Washington seemed determined to provoke a trade war

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

UNIT OF COMMERCIAL WAR?

Sreeram Chaulia, of the Jindal School of International Affairs outside Delhi, told AFP that the leaders of the Brics "would recognize that the United States has unleashed punitive trade wars that are causing wrong. "

" They have a collective interest in promoting intra-BRICS trade, "said Russian Minister of Economy Maxim Oreshkin last week – the context – we are at a time when the states United States and China announce new measures almost every week. "

" It's a trade war, leaders' talks are particularly important to coordinate our positions, "he added. Mr. Xi arrived in South Africa after visiting Senegal and Rwanda as part of a tour to cement relations with African allies.

In India, Modi visited Rwanda and Uganda for a five-day tour.

The meeting will open Wednesday afternoon with a business forum, before heads of state will hold talks Thursday.

African leaders participating in an "outreach brics" program on Friday include Paul Kagame of Rwanda, Joao Lourenco of Angola, Macky Sall of Senegal and Yoweri Museveni of Uganda.

"South Africa and Africa can benefit from growing exports to fast-growing countries like India and China," Kenneth Creamer, economist at "The Brics have the strategic potential to reshape global trade "

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

AFP