China's Xi opens BRICS summit in South Africa

China's Xi opens BRICS summit in South Africa

China's Xi opens BRICS summit in South Africa

"Access to the global economy through trade has underpinned China's economic success over the past two and a half decades".

"China is the most important trade country in this coalition and is likely to offset the negative impact from greater USA protectionism through increased domestic stimulus", Madhur Jha, head of thematic research at Standard Chartered Bank, said in response to e-mailed questions.

"Unilateralism and protectionism are mounting, dealing a severe blow to multilateralism".

Chinese President Xi Jinping has already used his visit to the country to forge friendships and consolidate influence with multibillion dollar investments in Africa, including SA, which counts China as its biggest trading partner.

"The concern that South Africa has with the protectionist policies by President Trump at this stage, is that it is playing havoc with the local market".

Prime Minister Narendra Modi was welcomed by South African President Cyril Ramaphosa after he arrived in the country to attend the BRICS Summit beginning tomorrow.

President Cyril Ramaphosa hosted Xi at the Union Buildings offices in Pretoria on Tuesday on a State visit ahead of the Brics summit.

Analysts say its members have struggled to find a unified voice, but their common opposition to U.S. trade policy could help to galvanise them.

The two leaders took the opportunity to "strengthen the comprehensive strategic partnership" between the two Brics nations as they signed several agreements and memorandums of understanding "intended to deepen relations".

"They come with the national interests of their countries".

"President Xi indicated that China is ready to invest, and to work with South Africa in various sectors such as; infrastructure, ocean economy, green economy, science and technology, agriculture, environment, as well as finance".

The meeting opened on Wednesday with a business forum, before the heads of state hold talks on Thursday.

"South Africa, and Africa more broadly, can benefit from increasing exports to fast growing countries like India and China", Kenneth Creamer, an economist at Johannesburg's Wits University, told AFP. Turkey's president, Recep Tayyip Erdogan, has also been invited.

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