Beijing, Sept 8: Chinese President Xi Jinping on Monday called for a unified response by the BRICS countries to trade challenges posed by the US, saying that Washington’s tariff wars severely disrupted the world economy and undermined international trade rules.
Speaking via a video link to the BRICS (Brazil, Russia, India, China and South Africa) leaders’ meeting convened by Brazilian President Lula De Silva, Xi said, “as we speak, transformation unseen in a century is accelerating across the world”.
“Hegemonism, unilateralism, and protectionism are getting more and more rampant. Trade wars and tariff wars waged by some country severely disrupt the world economy and undermine international trade rules,” he said, without directly naming the US or its President Donald Trump, whose steep tariffs against India, Brazil, China and Russia caused turmoil in the emerging economies.
“At this critical juncture, BRICS countries, standing at the forefront of the Global South, should act on the BRICS Spirit of openness, inclusiveness and win-win cooperation, jointly defend multilateralism and the multilateral trading system, advance greater BRICS cooperation,” Xi said in his speech released by the Foreign Ministry in Beijing.
Describing the BRICS leaders’ meeting as “very relevant”, Xi said, “We should uphold multilateralism to defend international fairness and justice… It provides an important underpinning for world peace and development.”
Also, BRICS countries should actively promote greater democracy in international relations and increase the representation and voice of the Global South countries, he said.
“We should improve the global governance system through reform so as to fully mobilise resources from all quarters and tackle more effectively the common challenges for humanity,” he said.
The BRICS countries should uphold openness and win-win cooperation to safeguard the international economic and trade order, he said.
“Economic globalisation is an irresistible trend of history. Countries cannot thrive without an international environment of open cooperation, and no country can afford to retreat to self-imposed isolation,” he said.
“No matter how the international landscape may evolve, we must stay committed to building an open global economy, so as to share opportunities and achieve win-win outcomes in openness,” he said.
He also sought to highlight his Global Governance Initiative (GGI), a concept to preserve the world order against US dominance. He proposed the GGI at the recent Shanghai Cooperation Organisation (SCO) summit held at Tianjin.
“The Global Governance Initiative that I proposed is aimed at galvanising joint global action for a more just and equitable global governance system,” he said, adding that the BRICS nations should safeguard the international system with the UN at its core.
“We should promote a universally beneficial and inclusive economic globalisation, place development at the heart of our international agenda, and ensure that Global South countries participate in international cooperation as equals and share in the fruits of development,” he said.
Calling for solidarity and cooperation to foster synergy for common development, he said, “we can only cope with external challenges more effectively when we manage our own affairs well in the first place”.
Besides accounting for nearly half of the world’s population, around 30 per cent of global economic output, and one-fifth of global trade, BRICS countries are also home to major natural resources, big manufacturers and vast markets, Xi said.
“The more closely we work together, the more resilient, resourceful and effective we are in addressing external risks and challenges,” he said.
“We should leverage our respective strengths, deepen practical cooperation, and make our business, financial, scientific and technological cooperation more productive, so as to strengthen the foundation, momentum and impact of greater BRICS cooperation and deliver more practical benefits to our peoples,” he said.
“As long as we step up to take our responsibilities and look out for each other, the giant ship of BRICS will brave the shifting international tides and sail far and steady,” he said. (PTI)
