China's Xi Jinping: Protectionism is hurting global trade order

Chinese President Xi Jinping said that some developed countries are taking protectionist measures that are leading to trade conflicts and economic blockade - calling them the biggest risk of the increase in instability in the global economy.
Chinese President Xi Jinping said that some developed countries are taking protectionist measures that are leading to trade conflicts and economic blockade - calling them the biggest risk of the increase in instability in the global economy.PHOTO: AFP

OSAKA (REUTERS) - Chinese President Xi Jinping said on Friday (June 28) that some developed countries are taking protectionist measures that are leading to trade conflicts and economic blockade - calling them the biggest risk of the increase in instability in the global economy.

"All this is destroying the global trade order... This also impacts the common interests of our countries, overshadows the peace and stability worldwide," Mr Xi told a meeting of the Brics countries' leaders on the sidelines of the Group of 20 summit meeting in Osaka.

Brics is the acronym coined for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.

Mr Xi added that in such circumstances, the Brics countries should "increase our resilience and capability to cope with external risks".