The leaders of the BRICs nations have spoken out against customs duties and protectionism. Instead they're promiting open world trade. But critics see political and economic self interest at play.
The leaders of Brazil, Russia, India, China and South Africa have a series of ambitious plans for the meeting in Johannesburg.
As China looks for ways to retaliate against the US amid an escalating trade row between the two giants, speculation is rife that Beijing could slash the export of rare earth metals as a counterstrike to US tariffs.
When international ratings agencies like Moody's or Fitch downgrade countries, the economies of these nations suffer. African governments have had enough and are retaliating against what they call 'subjective' ratings.
Diamonds and oranges: Five countries that jointly represent at least 40 per cent of the world's people and GDP discussed details of economic collaboration at the 10th BRICS summit in South Africa.
© 2019 Deutsche Welle |
Legal notice |
| Mobile version