China Daily: Xi says trade war 'should be rejected' Release date:2018-07-30

President Xi Jinping said the world should reject protectionism and pursue openness instead.

He made his defense of free trade to an audience of 1,200 government and business officials at the BRICS Business Forum in Johannesburg, South Africa, on July 25.

"A trade war should be rejected, because there will be no winner. Economic hegemony is even more objectionable, as it will undermine the collective interests of the international community; those who have pursued this course will end up hurting themselves."

Xi said China itself was committed to greater openness, as he had made clear at the Boao Forum in Hainan province in April, announcing a series of measures to open up China's automotive and financial sectors to foreign investment.

"These initiatives are being speedily pursued. China will build a more investment-friendly environment that is aligned with international standards, more transparent and law-based and encouraging competition and opposing monopoly," he said.

The president also said the responsibility fell upon BRICS countries - which apart from China are Brazil, Russia, India and the host of the latest summit, South Africa - to promote a more open world economy.

"We BRICS countries should firmly promote an open world economy, be resolute in rejecting unilateralism and protectionism, promote trade and investment liberalization and facilitation, and jointly steer the global economy toward greater openness."

The president added that the BRICS nations and other emerging and developing countries now had the economic muscle to achieve this, given that they already contributed 80 percent of global economic growth and nearly 40 percent of global economic output.

"Growing at their current rates, these countries will see their economic output approach half of the global total in a decade," he said.

"The collective rise of emerging markets and developing countries is unstoppable, and it will make global development more balanced and global peace more firmly based."

Xi said the BRICS countries, which held their first summit in Yekaterinburg, Russia, in 2009, had achieved much in their first decade.

"Guided by the BRICS spirit of openness, inclusiveness and win-win cooperation, (we) have deepened our cooperation, enhanced our solidarity and mutual trust, improving the lives of our peoples, and made our bond of interests and friendship even closer. Indeed, our cooperation has contributed much to global economic recovery and growth," he said.

Xi said the grouping had the opportunity to make new advances in its "next golden decade".

"The next decade will be a crucial one in which new global growth drivers will take the place of old ones. A new round of revolution and transformation in science, technology and industries - featuring artificial intelligence, big data, quantum information and biotechnology - will fundamentally change global development and people's work and lives," he said.

"We must seize this important opportunity to enable emerging markets and developing countries to achieve leapfrog development."

Xi, who visited Senegal and Rwanda before arriving in South Africa, said Africa is key to the future development of the world, and it is important that the BRICS nations deepen their cooperation with the continent.

"Africa has more development potential than any other region in the world. We should strengthen cooperation with Africa, support its development and make BRICS-Africa cooperation a model for South-South cooperation," he said.

Xi also said it is important that BRICS countries help Africa meet the economic goals of the African Union's Agenda 2063 plan.

"We should actively carry out cooperation with African countries in such areas as poverty reduction, food security, innovation, infrastructure development and industrialization in a way compatible with their national conditions."

He said China's cooperation with Africa will be enhanced by the Forum on China-Africa Cooperation Summit in Beijing in September, which will have the theme "China and Africa: Towards an Even Stronger Community With a Shared Future Through Win-Win Cooperation".

"China and African countries are destined to be good friends, good brothers and good partners, and China-Africa cooperation stands as a fine example of South-South cooperation," he said.

Xi also reaffirmed China's commitment to the Paris climate accord, which has been rejected by US President Donald Trump, and the United Nations' 2030 Agenda for Sustainable Development.

"We should treat nature with awe and do more to foster an ecological system conducive to green development. It is necessary to promote international development cooperation, urge developed countries to fulfill their promises on official development assistance and increase support to developing countries," he said.

On trade, Xi said China would showcase its openness to the outside world by holding the first China International Import Expo in Shanghai in November. He said more than 2,800 companies and 15,000 buyers from 130 countries and regions had already confirmed their participation.

"(The expo is) a major move to firmly support trade liberalization and the opening of China's market. The expo will serve as a new platform for the world to access the Chinese market," he said.

Xi said BRICS should draw inspiration from the late Nelson Mandela, and he quoted one of the former South African president's famous sayings: "After climbing a great hill, one only finds that there are many more hills to climb."

"Indeed, the history of BRICS cooperation is a journey of our five countries climbing great hills only to reach new heights," he said.

South African President Cyril Ramaphosa, who hosted the summit, was also concerned about the international trading environment when he addressed the BRICS Business Forum.

He said BRICS was meeting at time when "the multilateral trading system is facing unprecedented challenges", and that one way to counteract this was for member nations to open their markets to one another.

"We need to increase investment between BRICS countries, particularly in the productive sectors of our economies."

Xi, who first made a state visit to the United Arab Emirates on his four-country trip, arrived in Africa on July 21 when he made the first state visit to Senegal by a Chinese head of state in nine years.

China is involved in a number of infrastructure projects in the West African country, including a 115-kilometer highway from Thies to Touba, the largest such project in the country's history.

Both Xi and Senegalese President Macky Sall said they would continue to promote cooperation between their two countries.

Xi went on to Rwanda, where he met with President Paul Kagame, the current chair of the African Union.

The two countries signed a number of cooperation agreements during the visit in investment, finance, e-commerce and law enforcement.

Xi praised Kagame's development path for Rwanda, saying Kagame had achieved both national stability and social harmony.

Kagame said he hoped Xi's visit would further push forward the two countries' friendly cooperation.