Plans to counter and mitigate the negative impact of the looming trade war between the United States and China are expected to dominate discussions during the BRICS 10th Summit.
The summit gets underway in Sandton north of Johannesburg later on Wednesday.
Other key areas that are set to dominate discussions are Washington’s administration’s protectionist policies.
The rise of right-wing political parties in Europe, which have led to anti-immigrant sentiments, and the US push to implement tariff hikes on some key imports, are but some of the main issues likely to feature prominently during the three day summit.
Russian President Vladimir Putin’s presence will be closely watched, following the recall of his former close ally Jacob Zuma in January.
For their part, Chinese and Indian leaders are expected to use the summit to lobby for more investment opportunities on the African continent, where the two major Asian nations have mounted aggressive campaigns to exert their trade and diplomatic influence.
Meanwhile, South Africa, which is the sole African representative in the economic grouping, will host the three-day gathering under the theme Inclusive Growth and Shared Prosperity.
Tuesday’s major announcement of increased investment in the country by China has come as good news for the host country still reeling from sluggish economic growth and high unemployment rates.
Meanwhile, Global Market and Trade Analyst Vince Ndove shares his views on the looming trade war between the United States and China.
Watch the full video below for more:
