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.
"Despite all this, we remain convinced that the theme of our times — peace and development — has not changed, and that the trend toward multipolarity and economic globalization cannot be turned around," the Chinese president added.
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