China, Russia, India warn of threats to global order

The Chinese president has warned against “protectionism” which, according to him, is being practiced by the West and “destroying the global trade order” amid a trade war between his country and the US.

Xi Jinping told leaders of the world's five major emerging economies (BRICS) on the sidelines of the G20 summit in Osaka that "protectionism and bullying" are “destroying the global trade order."

He made the remarks ahead of an expected meeting with US President Donald Trump at the G20 summit in Japan. 

"All this is destroying the global trade order,” said the Chinese president. “This also impacts common interests of our countries, overshadows the peace and stability worldwide.”

Xi was indeed reflecting remarks by other world leaders, including Russian President Vladimir Putting and Indian Prime Minister Narendra Modi, who were also attending the summit.

Putin, who was also attending the same meeting of the BRICS leaders, described the current situation in the global economy as “worrying.”

He said that global trade was feeling the effects of "protectionism, (and) politically motivated restrictions." 

Putin further said that attempts to lower the role of the World Trade Organization (WTO) or to destroy it are counter-productive. 

“This is clear that it (global trade) needs to be adopted to the present-day developments... We consider counter-productive any attempts to destroy WTO or to lower its role," Putin added.

The Indian leader also called for a focus on reforming the WTO. Modi raised concern about the global economy, which he said is in a situation of "instability and downfall."

“Unilateralism and competitiveness are overshadowing the rule-based multilateral global trade systems,” said Modi, who also called for strengthening the WTO and fighting against protectionism.

SS