China increases its funding for the BRICS (Brazil, Russia, India, China, and South Africa) international alliance to fight the “protectionism” espoused by U.S. President Donald Trump.

From Reuters:

XIAMEN, China (Reuters) – China will give $80 million in funding for BRICS cooperation plans, Chinese President Xi Jinping said on Monday, while the bloc of five emerging countries pledged to oppose protectionism.

Xi offered 500 million yuan ($76.4 million) for a BRICS economic and technology cooperation plan, and another $4 million for projects at the group’s New Development Bank (NDB) during a three-day leaders summit in the…