BhooTh Posted July 27, 2018 Posted July 27, 2018 Brics back 'open world economy' that benefits all nations The leaders of the Brics emerging economies have signed a declaration stressing the importance of an "open world economy", in which all countries benefit from globalisation. Brazil, Russia, India, China and South Africa also backed an "open and inclusive" multilateral trading system under World Trade Organization rules. But they said the multilateral trading system faced unprecedented challenges. Their comments come amid mounting trade tensions sparked by US tariffs. The leaders have been meeting at the 10th Brics summit in Johannesburg.
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