Full coverage: Xi Visits Cambodia, Bangladesh, Attends BRICS summit

The BRICS nations are looking at ways to boost trade between their developing economies. They face similar challenges, including slowing domestic economies and attempts to lift their populations out of poverty.

Latin America’s largest economy, Brazil, is forecast to contract by around 3 percent this year, while unemployment and inflation hover at around 10 percent. President Michel Temer still faces challenges in carrying out his reforms. Russia faces Western sanctions and a slump in oil prices that have had an impact on its U.S.$1 trillion economy. The IMF predicts a contraction of 0.8 percent this year.

India’s economy is growing by 7.5 percent annually, but it also has the world’s highest number of people in poverty. China’s economy is growing at its slowest pace in 25 years, as the country tackles industrial over-capacity. And there is more trouble ahead for the South African economy as its finance minister faces fraud charges and the country’s currency remains unstable.