Wednesday, May 14, 2025
Germany Latest News
  • Sports
  • USA
  • Asia
  • Health
  • Life Style
  • Tech
  • Science
  • Latin America
  • Africa
  • Europe
No Result
View All Result
Germany Latest News

Brics back ‘open world economy’ that benefits all nations

by The Editor
July 28, 2018
in Latin America
0
Brics back ‘open world economy’ that benefits all nations

The leaders of the Brics emerging economies have signed a declaration stressing the importance of an "open world economy", in which all countries benefit from globalisation.

Brazil, Russia, India, China and South Africa also backed an "open and inclusive" multilateral trading system under World Trade Organization rules.

But they said the multilateral trading system faced unprecedented challenges.

Their comments come amid mounting trade tensions sparked by US tariffs.

The leaders have been meeting at the 10th Brics summit in Johannesburg.

  • US and EU retreat from brink on trade
  • What is a trade war and why should I worry
  • Trade row may hurt global growth says G20

"We reaffirm the centrality of the rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system, as embodied in the World Trade Organization, that promotes a predictable trade environment and the centrality of the WTO," the declaration signed by the five leaders said.

However, they added: "We recognise that the multilateral trading system is facing unprecedented challenges.

"We underscore the importance of an open world economy, enabling all countries and peoples to share the benefits of globalisation, which should be inclusive and support sustainable development and prosperity of all countries.

"We call on all WTO members to abide by WTO rules and honour their commitments in the multilateral trading system."

'Reject protectionism'

The Brics summit is the first since US President Donald Trump placed tariffs on billions of dollars' worth of goods from around the world, in particular China.

He has promised further levies on $200bn (£150bn) worth of Chinese products in September.

Mr Trump also wants to cut the trade deficit with China – a country he has accused of unfair trade practices since before he became president.

Mr Trump made a big point on the campaign trail about cutting the country's trade deficits.

He is convinced that they hurt US manufacturing, and has said repeatedly while campaigning and on Twitter that the US must do more to tackle them.

Speaking in Johannesburg on Thursday, Chinese President Xi Jinping said: "We must work together… to safeguard the rule-based multilateral trading regime, promote trade and investment, globalisation and facilitation, and reject protectionism outright."

On Wednesday, he said there would be no winner in a global trade war.

Original Article

BBC

Related posts

Joran van der Sloot: Suspect in US teen’s disappearance extradited

Joran van der Sloot: Suspect in US teen’s disappearance extradited

June 14, 2023
Haiti asks world for military help to curb chaos

Haiti asks world for military help to curb chaos

October 8, 2022

The leaders of the Brics emerging economies have signed a declaration stressing the importance of an "open world economy", in which all countries benefit from globalisation.

Brazil, Russia, India, China and South Africa also backed an "open and inclusive" multilateral trading system under World Trade Organization rules.

But they said the multilateral trading system faced unprecedented challenges.

Their comments come amid mounting trade tensions sparked by US tariffs.

The leaders have been meeting at the 10th Brics summit in Johannesburg.

  • US and EU retreat from brink on trade
  • What is a trade war and why should I worry
  • Trade row may hurt global growth says G20

"We reaffirm the centrality of the rules-based, transparent, non-discriminatory, open and inclusive multilateral trading system, as embodied in the World Trade Organization, that promotes a predictable trade environment and the centrality of the WTO," the declaration signed by the five leaders said.

However, they added: "We recognise that the multilateral trading system is facing unprecedented challenges.

"We underscore the importance of an open world economy, enabling all countries and peoples to share the benefits of globalisation, which should be inclusive and support sustainable development and prosperity of all countries.

"We call on all WTO members to abide by WTO rules and honour their commitments in the multilateral trading system."

'Reject protectionism'

The Brics summit is the first since US President Donald Trump placed tariffs on billions of dollars' worth of goods from around the world, in particular China.

He has promised further levies on $200bn (£150bn) worth of Chinese products in September.

Mr Trump also wants to cut the trade deficit with China – a country he has accused of unfair trade practices since before he became president.

Mr Trump made a big point on the campaign trail about cutting the country's trade deficits.

He is convinced that they hurt US manufacturing, and has said repeatedly while campaigning and on Twitter that the US must do more to tackle them.

Speaking in Johannesburg on Thursday, Chinese President Xi Jinping said: "We must work together… to safeguard the rule-based multilateral trading regime, promote trade and investment, globalisation and facilitation, and reject protectionism outright."

On Wednesday, he said there would be no winner in a global trade war.

Original Article

BBC
Previous Post

Venezuela opposition legislator flees after ‘secret police threats’

Next Post

Next Star Wars to use unseen footage of late Carrie Fisher

Next Post
Next Star Wars to use unseen footage of late Carrie Fisher

Next Star Wars to use unseen footage of late Carrie Fisher

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Republican Candidate Scrutinized for Role in Gay ‘Porn’ Films

Republican Candidate Scrutinized for Role in Gay ‘Porn’ Films

7 years ago
Kyle Edmund reveals the advice he gave to new British hope Paul Jubb ahead of Wimbledon debut

Kyle Edmund reveals the advice he gave to new British hope Paul Jubb ahead of Wimbledon debut

6 years ago
Barcelona backs down on plan to play in US

Barcelona backs down on plan to play in US

6 years ago
Arsenal legend Robert Pires urges Liverpool to sign France star Nabil Fekir

Arsenal legend Robert Pires urges Liverpool to sign France star Nabil Fekir

7 years ago

FOLLOW US

  • 139 Followers
  • 87.2k Followers
  • 202k Subscribers

BROWSE BY CATEGORIES

  • 1xbet Casino Russia
  • 1xbet Russian Top
  • Africa
  • Asia
  • Europe
  • Health
  • latest news
  • Latin America
  • Life Style
  • Mail Order Brides
  • Mostbet
  • Online dating
  • onlyfans
  • Pin Up
  • Pin Up Russia
  • Science
  • Sports
  • Tech
  • Uncategorized
  • USA

BROWSE BY TOPICS

2018 League Bali United Beijing BlackBerry Brazil Broja Budget Travel Bundesliga California Champions League Chelsea China Chopper Bike Coronavirus COVID COVID-19 Crime Doctor Terawan EU France French German Istana Negara Italy Kazakhstan Market Stories Mexico National Exam Nigeria Omicron Pakistan Police protests Qatar Ronaldo Russia Smart Voting Sweden TikTok Trump UK Ukraine US vaccine Visit Bali
No Result
View All Result

Recent Posts

  • OnlyFans Platform Analysis
  • How to Day German Fashion
  • Southeast Continental Capabilities
  • What is a Mail Order Wife?
  • What to Discuss on a First Date?

Categories

  • 1xbet Casino Russia
  • 1xbet Russian Top
  • Africa
  • Asia
  • Europe
  • Health
  • latest news
  • Latin America
  • Life Style
  • Mail Order Brides
  • Mostbet
  • Online dating
  • onlyfans
  • Pin Up
  • Pin Up Russia
  • Science
  • Sports
  • Tech
  • Uncategorized
  • USA

Tags

2018 League Bali United Beijing BlackBerry Brazil Broja Budget Travel Bundesliga California Champions League Chelsea China Chopper Bike Coronavirus COVID COVID-19 Crime Doctor Terawan EU France French German Istana Negara Italy Kazakhstan Market Stories Mexico National Exam Nigeria Omicron Pakistan Police protests Qatar Ronaldo Russia Smart Voting Sweden TikTok Trump UK Ukraine US vaccine Visit Bali
Federal Government focuses on “integrated security”
latest news

Federal Government focuses on “integrated security”

by The Editor
June 14, 2023
0

Berlin (dpa) – The Federal Government is responding to the challenges of an increasingly unstable world order by means of a “policy...

Read more

Recent News

  • OnlyFans Platform Analysis
  • How to Day German Fashion
  • Southeast Continental Capabilities

Category

  • 1xbet Casino Russia
  • 1xbet Russian Top
  • Africa
  • Asia
  • Europe
  • Health
  • latest news
  • Latin America
  • Life Style
  • Mail Order Brides
  • Mostbet
  • Online dating
  • onlyfans
  • Pin Up
  • Pin Up Russia
  • Science
  • Sports
  • Tech
  • Uncategorized
  • USA

Recent News

OnlyFans Platform Analysis

June 12, 2024

How to Day German Fashion

May 5, 2024
  • About
  • Advertise
  • Careers
  • Contact

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Sports
  • USA
  • Asia
  • Health
  • Life Style
  • Tech
  • Science
  • Latin America
  • Africa
  • Europe

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.