XIAMEN, China (AP) – Chinese President Xi Jinping says major emerging economies should stand up against protectionism and that China will continue to invest across the world and welcome foreign investment.
Yet his speech at the opening of a meeting of business representatives of the BRICS nations comes at a time of rising American and European pressure on Beijing to lower market barriers.
The BRICS nations are Brazil, Russia, India, China and South Africa.
Xi said these countries should enhance global economic governance because “only openness delivers progress.”
China has long been accused of creating unfair barriers to foreign companies. But Xi has been speaking out in favor of globalization at a time when protectionist sentiments are on the rise in Western countries, including in the U.S. under President Donald Trump.