China has dig at US on trade

CHINESE President Xi Jinping has warned the world economy faces growing risks from countries turning inward on trade and resisting combating climate change, in an implicit rebuke to his US counterpart.

Mr Xi did not refer to the US by name in his address yesterday, although US President Donald Trump has said trade pacts are a threat to American jobs and has decided to pull the US out of the Paris agreement on climate change.

“Multilateral trade negotiations are having a difficult time,” the Chinese president told leaders of emerging economies and developing countries. “The implementation of the Paris agreement on climate change is encountering resistance,” he said. “Some countries have become more inward-looking and less willing to take part in international co-operation.”

His criticism came at the opening of a dialogue between the leaders of BRICS countries and five other developing nations invited to take part in the discussions on the sidelines of the summit in the southeastern Chinese city of Xiamen.

On Monday’s opening day, the countries called for reform of the UN and tougher measures against terrorist groups, while denouncing North Korea’s latest nuclear test.

The five also pledged their opposition to protectionism, a theme taken up by Mr Xi despite what critics say are barriers to foreign investment in key Chinese sectors.