Ramaphosa makes it rain as he secures $14.7-billion from China

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"Those who pursue this cause will only hurt themselves".

The next decade will be a crucial one in which new global growth drivers will take the place of old ones, seeing faster changes in the worldwide landscape and the worldwide alignment of forces, and witnessing a profound reshaping of the global governance system, Xi said while addressing the BRICS Business Forum in Johannesburg, South Africa.

In a speech aimed largely at the Trump administration in the US, President Xi said there could be no victor in any trade war. India's Prime Minister Narendra Modi arrived on Monday on the way to a summit in South Africa and agreed $200 million in loans.

Thus, the evolution of global governance system will have a profound impact on the development of all countries, particularly emerging markets and developing countries, and indeed on the prosperity and stability of the whole world, he said.

"These developments call for thorough discussion on the role of trade in growing and in promoting sustainable development, particularly inclusive growth".

The 10th annual Brics summit will get underway in Johannesburg on Wednesday. The summit runs through Friday with various heads of BRICS attending. Brazil, Russia, India and China invited South Africa to join the group in December 2010.

GST slashed: Sanitary pads, footwear, small TVs among 100 items impacted
The issue has also been a focus of political debate in Britain where sanitary products are still taxed as a "luxury" product. Taxpayers who are yet to register under the GST have been given a final extension till August 31.

Last week, President Trump said he was ready to impose tariffs on all goods imported from China - worth $500bn (£380bn). Summit watchers say his blunt rhetoric will influence this year's summit.

"We are concerned by the rise in unilateral measures that are incompatible with World Trade Organisation rules, and we are anxious about the impact of these measures, especially as they impact on developing countries and economies", said Ramaphosa.

But, she said, BRICS may use that adversity to seek to build a new world order, even beyond the five-member bloc.

South African Trade Minister Rob Davies said the country was suffering collateral damage from the United States tariffs on steel and aluminium.

Mathekga, however, said South Africa was still regarded as an underdog by other Brics countries.

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