BRICS push back against protectionism



NKH News

Leaders of the five emerging economies known as BRICS have gathered in Brazil to kick off their annual summit. They’re promoting stronger ties and stressing the importance of free trade.

The leaders from Brazil, Russia, India, China, and South Africa are holding two-days of meetings in the capital of Brasilia.

Chinese President Xi Jinping said protectionism and abusive measures stress the international trade system and put pressure on the global economy.

Xi then said that China aims to boost economic ties with developing countries while respecting their points of view.

He met with Brazilian President Jair Bolsonaro ahead of the BRICS summit.

Xi said he plans to strengthen relations with Brazil. This includes an investment in the country’s major oil company.

He also said the two agreed to expand economic cooperation with South American nations as well as with Caribbean countries.

Analysts say China is hoping to bolster economic ties to South America as trade frictions with the US continue.


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