Chinese President Xi Jinping has described economic globalisation as an “irresistible trend of history,” emphasising the importance of multilateralism amid tariffs imposed by U.S. President Donald Trump.
Speaking at a virtual BRICS summit hosted by Brazil, Xi called for upholding multilateralism to “defend international fairness and justice,” according to a transcript released by the Chinese Foreign Ministry.
“Hegemonism, unilateralism, and protectionism are spreading rapidly,” Xi said, adding that “trade wars and tariff measures by certain countries severely disrupt the global economy and undermine international trade rules.”
His comments come as U.S. tariffs and protectionist policies continue to roil international markets, with Washington seeking bilateral trade agreements, including with Beijing.
“We must safeguard the international system with the United Nations at its core and the international order based on international law to strengthen the foundations of multilateralism,” Xi said.
He called for “openness and win-win cooperation to protect the international economic and trade order,” and reiterated that “economic globalisation is an irresistible trend of history.”
Xi stressed the need for inclusive globalisation, placing development at the centre of the international agenda, and ensuring that Global South countries participate as equals and share in the benefits of development.
Highlighting that BRICS nations account for nearly half of the world’s population, around 30% of global economic output, and one-fifth of global trade, Xi urged the bloc to work “more closely together.”
Beijing said it is ready to deepen cooperation with BRICS countries, leveraging their respective strengths in business, finance, science, and technology.
The BRICS bloc was originally formed by Brazil, Russia, India, and China, holding its first summit in 2009, and later expanded to include South Africa, Egypt, Ethiopia, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 6 April, covering the latest developments you need to know.
Communities in Mexico have taken to the streets to protest against an ongoing oil spill in the Gulf of Mexico that has killed wildlife and damaged coral reefs over several weeks.
Oil prices rose sharply on Monday as fears deepened over potential supply shortages caused by the ongoing conflict in the Middle East, unsettling global energy markets and the row over the Strait of Hormuz, raising concerns for consumers and businesses alike.
U.S. President Donald Trump threatened Iran's energy and transport infrastructure in a social media post containing expletives on Sunday (5 April), as he seperately gave Iran a deadline of Tuesday to reopen the Strait of Hormuz.
The crew of Artemis II mission are entering a pivotal phase of their journey, as they prepare to swing around the Moon and head back towards Earth. Now on the fifth day of their 10-day mission, the four astronauts are already witnessing views no human has ever seen.
The family of the late Virginia Giuffre have urged King Charles III to meet survivors of sexual abuse during his upcoming state visit to the United States.
Senegal has taken steps to curb government spending by banning non-essential foreign travel for ministers, as rising global oil prices place increasing pressure on the country’s finances.
A major gathering of Muslims in northern Paris will go ahead as planned after a French court overturned a government attempt to ban the event.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
Japan and Indonesia will deepen coordination on energy security, Tokyo said, as the U.S.-Israeli war on Iran disrupts vital oil and gas flows to Asia.
China's three largest state-owned airlines have issued warnings regarding their financial outlook for the current year, acknowledging that the eruption of war involving Iran has driven jet fuel prices to unsustainable highs.
Stock markets across Asia fell on Monday as escalating conflict involving Iran drove oil prices sharply higher, fuelling fears of inflation and a potential global recession, with investors reacting to disruption risks in the Strait of Hormuz and prolonged hostilities.
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