Data from the US Census Bureau showed that bilater

eral merchandise trade between the two

countries has declined by more

than 15 percent since September 2018, when the second round of tariffs went into effect.

“This has also impacted global value

chains in East Asia and other trading partners,” the report said.

“We’ve seen the trade tariffs that have

been introduced on both sides have already been damaging trade,” said Dawn Holl

and, chief of the Global Economic

Monitoring Branch in the UN Department of Economic and Social Affairs.

Holland said the adverse effects of trade tensions on economic growth in China “has been partly offset by some stimulus measures”.

According to the report, growth in China is projected to moderate gradually from 6.6 percent in 2018 to 6.3 percent in 2019, and 6.2 percent in 2020.

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he transformation and upgrading of existing industries

thanks to measures to stimulate innovation, optimize the business environmen

t and public services, and to strengthen opening-up and cooperation in the digital sector.

“China’s high-tech industries, represented by new technologies, new industr

ies, and new products, have maintained rapid growth in recent months,” she said.

According to the commission, output in the high-tech manufacturing sector rose 8.7 percent ye

ar-on-year from January to April, 2.5 percentage points higher than that of industrial output. High-tech ma

nufacturing output was responsible for 13.6 percent of industrial output, 1 percentage point higher year-on-year.

Output of the electronics and communication equipment manufact

uring sector, pharmaceutical manufacturing and aerospace and equipment manufacturing wer

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Global index compiler MSCI will implement the first step

 of the weight increase of China A shares in the MSCI Emerging Markets Indexes, according to a MSCI index review released on Monday.

Twenty-six China A shares, 18 of which are ChiNext stocks, will be added to the MSCI China Index and the inclusion factor for 238 existing consti

tuents will be increased from 0.05 to 0.10, the MSCI Equity Indexes May 2019 Index Review said.

China A shares will have an aggregate weight of 5.25 percent and 1.76 pe

rcent in the MSCI China and MSCI Emerging Markets Indexes, respectively, according to MSCI.

The weight increase of China A shares in the MSCI Emerging Marke

ts Indexes will be implemented through a three-step process, the report said.

The Foreign Inclusion Factor-adjusted market capitalization of China

A shares will be further raised to 0.15 as part of the August 2019 Quarterly Index Review and

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Fertility rates, meanwhile, remain astonishingly high in

n some countries, especially in Sub-Saharan Africa. In a few of the poorest-Niger, Mali and th

e Democratic Republic of Congo-the rate is 6-7 children per woman. The resulting flood of new ent

rants to the labor market is far outstripping the number of jobs available.

Empowering women key to meeting challenge

No known growth model can accommodate or keep up with this k

ind of demographic surge. Even sustained economic growth of around 7 percent per year

won’t be enough. And although fertility tends to decline as incomes rise, that does not happen immediately. Em

powering women, therefore, may be the most effective way of starting to address the challenge.

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The reform and opening-up policies are exactly the kin

ds of market-driven reforms needed to make this happen. The Chinese government is investing heavily in research

and development, but it should be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

Nobody likes competition against themselves. So, it must be admitted that China’s transiti

on to a high-tech, high-value-added economy will come as a shock to many companies around the world.

The US economy, which has about 7 percent of GDP in high-tech manufacturing, will be lightly affected by this change.

On the other hand, advanced manufacturing contributes around 20 percent of GDP in South Korea, Japan, Ge

rmany and a few smaller European countries. They will be much more directly affected.

China’s transition over the next 10 years will not be painless for its compa

nies or for foreign competitors. But, reform and opening-up policies that create more com

petitive companies and markets are the only way to achieve a richer and more productive world economy in the long term.

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The nutrition project connects residents of the provin

nce’s low-income villages to canteens in rural nurseries as well as primary and secondary schools.

These canteens purchase farm produce from the poverty-stricken farmers, Bao added.

Guizhou has been making painstaking efforts to improve educatio

n for children in rural and mountainous regions because the government believes sch

ooling is the best way to empower the youngsters, who are seen as the hope of their families for getting out of poverty.

The mountainous province is one of the poorest regions in China. In 2018, it still had more

than 1.55 million people living below the poverty line of disposable annual income of 8,495 yuan.

One of Guizhou’s approaches to lifting impoverished people out of a bare-bones existence is to

build settlements in urban areas for the relocation of those who live in mountainous areas considered uninhabitable.

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China has also recently announced a strengthened reg

gime of intellectual property rights protection. Again, this is what foreign negotiat

ors are seeking, but also is important for China’s own economy as it transitions to being a technology leader.

Trade agreements can affect the types of goods being traded and they can redirect trade toward one c

ountry, away from others. They cannot directly affect any country’s worldwide current account bal

ance. A country that saves less than it invests will have to borrow foreign funds to import foreign goods to make up that difference.

There are two ways to reduce the US trade deficit. A serious recession would reduce investme

nt, but nobody advocates that as a strategy. The only other path is to change the US financial and gov

ernment system to encourage increased savings. China has almost nothing to do with it.

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Liu said that at the level of trade representatives, both side

both sides have the sincerity to solve the existing problems.

“The purpose decides everything,” Liu said, in English. “China wants a very equal and dignif

ied deal, and under this premise, a good, cooperative deal,” he said. “I hope our US colleagues would understand this.”

Liu said he believed both sides have a strong desire to reach a deal. “We need to work hard tog

ether to surpass the temporary difficult period of time, and then we’ll have a bright future,” he said.

Asked by China Daily how China and the US could help world economic growth, whose p

rospects have been already compromised by the escalation of trade tensions between the two countries, Liu said co

operation serves the interests of the two sides and the whole world, while conflict hurts both.

“We have tremendous common interests and many commo

n foes, only through cooperation could we solve these problems,” Liu said.

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One reason for publishing the article on Nature was to sho

show the resolve of the government and ethics scholars in China to improve ethical compliance in the sciences, Zhai said.

In the commentary, the four scholars said the government should release clearer rules and regulations on the use of tech

nologies and hand down sharper punishments to offenders, including disqualifying them from scientific research.

“Self-regulation of scientists is unlikely to be enough, given their potential conflicts of i

nterest under market pressures. Thus, top-down regulation is crucial,” they said.

The scholars suggested that authorities such as the National Health Commission should

monitor all gene-editing centers and IVF clinics in China to ensure trials are in line with regulations.

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Three years ago, Zhao read about a hover surfboard i

 Canada, and that was when his “flying motorbike” fantasy became more of a reality.

Despite his enthusiasm, Zhao’s road to success was by no means smooth. He experienced c

ountless failures while trying to make the manned aircraft airborne during 1,559 flight tests. Zhao eve

n had to sell his apartment and borrow money from friends in order to continue his project.

He named the drone Jindouyun, or “Magic Cloud”, which was a flying cloud used

by fictional superhero Monkey King, a character from the Chinese classic Journey to the West.

He claims the lithium-battery-powered scooter can spend up to 30

minutes in the air, has a top speed of 72 kilometers per hour and can reach a height of 3,000 meters.

Zhao believed that the manned drone could prove to be an effectiv

e solution to ease traffic congestion, as well as for use by the fire departments or security forces.

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