UPDATE 3-BRICS leaders rail against 'bullying' protectionism

Leaders of the BRICS group of emerging economies on Wednesday criticized what they view as politically motivated protectionism at a time of a global slowdown and said their countries are doing their best to counter the trend. At their annual summit, the leaders of China, Russia, India, Brazil and South Africa called for greater inter-BRICS trade and investment and urged the group's New Development Bank to pump more funding into infrastructure and sustainable growth. "Protectionist and bullying counter-currents bring shocks to international trade, adding to downward pressure on the world economy," Chinese President Xi Jinping, whose country is locked in a trade war with the United States, told the summit in Brazil.

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