The growing economies of BRICS must promote trade liberalization and an open global economy, said Chinese President Xi Jinping at an economic meeting on Sunday at the start of a three-day summit taking place in southeastern China.
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Leaders of BRICS countries – Brazil, Russia, India, China, and South Africa – will discuss in the city of Xiamen until Tuesday, giving China as the host a final chance to position itself as a bulwark of globalization faced with the “America First” agenda of U.S. President Donald Trump.
Joining the BRICS leaders will be observer countries Thailand, Mexico, Egypt, Guinea, and Tajikistan, and officials will discuss the “BRICS Plus” plan for the possible expansion of the bloc with new members.
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“We must advocate for an open global economy, promote and facilitate trade liberalization, jointly create a chain of new global values, and achieve the re-establishment of global economic balance,” Xi told the gathered business leaders and senior BRICS officials.
Xi stated that he has “great confidence” in the development of BRICS countries despite claims that the importance of the bloc is fading due to slow growth.
