South Africa's Johannesburg is meeting three days in a bilateral-geniusmanik.com

No one will win the trade war of developed countries: China

For developing countries, China has said that no one will win in a trade war between developed countries.

China's President Xi Jinping has called for refusing protectionism in Brazil, Russia, India, China and South Africa.

South African President Cyril Ramphosa has warned about the threat that the US President Donald Trump gave to the country's threat to the developing world.

The two top leaders, Brazil, Russia, India, China and South Africa, said in a meeting of the alliance formed in the BRICS.

The three-day meeting was held in Johannesburg, South Africa.

Bricks countries live more than 40 percent of the world's population, but these countries have never worked as an integrated economic zone.

Mr. Shi said, "We have to remain firm in our one-sided global system and we should reject trade warfare worldwide because no one will win it."

"No one will accept a one-sided arrangement, and China will continue to improve itself by keeping its doors open."

Parallel damage or collateral damage

Nobody can stop the joint venture of developing countries and the growing market. And through this, Mr. Shi believes that the balance of the world system will return.

Last week, Mr. Trump said he was ready to import duty on 500 billion dollars of imported goods from China. President Trump believes - America opens a market near China and has suffered serious damage.

He has shown that America's trade deficit in the year 2017 has reached 800 billion dollars or 80 billion dollars. And the main reason for this shortage is the increasing imbalance in trade with China.

According to Mr. Trump, the main goal of China is to sell only things by doing different things, which has resulted in the closure of hundreds of American factories and millions of people have lost their jobs.

At the end of March, Mr. Trump announced the imposition of a duty on hundreds of Chinese import products including aluminum and steel. The import prices of these products can be worth $ 60 billion.

After that, China has imposed a duty on the import of US $ 300 billion US products, including US beverages, pork, fruits.

Concerns around the world are deeply deep about the consequences of this trade war between the world's number one and the number two economy.

And the impact of this trade war began to fall on other countries. South Africa enjoys the benefits of the taxes imposed on US steel and aluminum at this moment.

Referring to seven thousand workers in the two sectors of the country, whose results are to be enjoyed, President Ramphosa said that his country is against a fortnightly political and economic system.

He thinks that trade congressional conflict with the rules of the World Trade Organization is contradictory.

Data source: BBC Bangla