Chinese President Xi Says World Economy In Worst Recession Since Great Depression

🇨🇳President Xi Jinping, in addressing the 12th BRICS summit via video link today, put forward a series of proposals for BRICS cooperation to overcome global challenges including the #COVID19 pandemic & global economic recession. Read more: https://t.co/L9uio7nbxc @BRICSRussia2020
— Permanent Mission of China in Vienna (@ChinaMissionVie) November 17, 2020

Zero Hedge: China's Xi: World Economy In Worst Recession Since Great Depression

Chinese President Xi Jinping told the 12th BRICS summit via video link on Tuesday that the global economy is experiencing "the worst recession since the Great Depression of the 1930s" according to state media Xinhua.

He made the remarks while urging BRICS countries to cooperate in maintaining multilateralism which he said is a greater guarantee to "safeguard world peace and stability" during the tumultuous challenges of COVID-19.

According to Xinhua, Xi also urged "openness and innovation to facilitate global economic recovery, as well as green and low-carbon development." "At present, the world is caught between the most serious pandemic in the past century and momentous changes never seen in the last one hundred years," Xi said.

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Update: Xi says world economy in worst recession since Great Depression (Xinhanet)

WNU Editor: The full text of his speech is here .... Full Text: Remarks by Chinese President Xi Jinping at 12th BRICS Summit (Xinhaunet).