Chinese President Xi Jinping has warned against global trade war as he addresses a summit of emerging economies in South Africa’s main city, Johannesburg.
Jinping in a speech seen as a reaction to recent tariff threats by US President Donald Trump, said no one stands to win in a trade war.
He pushed for the rejection of what he calls “Unilateralism and protectionism” but rather cooperation among countries.
Jinping said on Wednesday that “a trade war should be rejected because there will be no winner.
Unilateralism and protectionism are mounting, dealing a severe blow to multilateralism and the multilateral trading regime.”
The Chinese leader also said that the world is “facing a choice between cooperation and confrontation, between opening up and closed-door policy and between mutual benefit and a beggar-thy-neighbour approach.”
“The international community has again reached a new crossroads,” he added.
South Africa’s President Cyril Ramaphosa also in a speech called for thorough discussions on the role of trade in promoting sustainable development and inclusive growth.
“We are meeting here at a time when the multilateral trading system is facing unprecedented challenges,” he said in a speech.
The BRICS grouping comprises Brazil, Russia, India, China and South Africa. Member countries of BRICS make up more that 40% of the global population.
Source: Africafeeds.com
