Trade agreements can affect the types of goods being

traded and they can redirect trade toward one country, away

from others. They cannot directly affect any country’s worldwide current account balance. A count

ry 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 gove

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

Ironically, the disputes between the US and China center around both nations’ legitimate desires to

protect some current low-skilled jobs, or at least to allow an easier transition to new jobs and industries.

US administration’s economic policy has rightly focused on the need to

retain jobs for working-class people in the US. And, China’s companies that export to the U

www.aishedesaf.com

Currently, 13 countries have been involved in the proje

roject, including Russia, Egypt and Algeria, and 17 domestic research teams, including on

e from University of Science and Technology of China, have started research on the site, Zheng noted.

The site will “offer research teams with observation equipmen

t, support for outdoor observation and data sharing services”, he said.

Wu Zhongliang, director of the administra

tion’s Institute of Earthquake Forecasting, said the experimental site will help for

m a “united front” at the national and international level to work on earthquake forecasting.

Referring to earthquake forecasting as a hard nut to crack, Wu said the work can

not see marked progress just in a few days, but forecasting capability will be improved a

s technology develops. “If it’s a war between humans and earthquakes, it’s us that will finally win,” he said

www.ozsnl.cn

Nevertheless, it is difficult to separate cyclical elements

and external shocks from the long-term trend and to conclude that China’s potential growth rate really is 6-6.5 percent.

Many Chinese economists cite long-term supply-side structural factors-such as demographic agi

ng, environmental degradation, and a lack of progress on reform-to argue that China has simply en

tered a new stage of development, characterized by significantly lower potential growth rates.

Structural factors don’t explain falling growth rate

While this may be true-everyone in China agrees that 9-10 perce

nt annual growth rates are a thing of the past-there is no clear indication of how much Chin

a’s growth potential has actually declined. Long-term supply-side structural factors do not explain, for exam

ple, why the growth rate fell from 12.1 percent in the first quarter of 2010 to 7.4 percent in the third quarter of 2013.

trwater.com.cn

This issue is similar to the environment. External critics

ent. External critics of China don’t appreciate that Chinese themselves realize there

are issues to be addressed. They are doing so. These developments should be encouraged.”

President Xi Jinping, who spoke at the Second Belt and Road Foru

m for International Cooperation in Beijing recen

tly, listed areas in which China will improve the environment for foreign investment.

The president said the nation will work hard to create a business environ

ment that respects the value of intellectual prop

erty, will improve the legal system for IPR protection at all levels, will strengthen law enforcement and pr

otection for the legitimate rights and interests of foreign IP owners and will bar the

forced transfer of technology, improve protection of trade secrets and crack down on infringement.

www.euitdm.cn

hinese Navy to send huge fleet to take part in sea parade

Qiu Yanpeng (middle), deputy commander of the PLA Navy, attends a press confer

ence for the upcoming multinational naval activity to mark the 70th anniversary of the People’s Liber

ation Army Navy at the press center in Huanghai Hotel in Qingdao, Shandong province, Ap

ril 20, 2019. About 200 journalists from home and abroad attended the press conference.Chinese Navy

will send 32 warships and 39 aircraft to take part in a joint sea parade in waters near Qingdao.

Nearly 20 ships from about 10 countries will participate in t

he sea parade on Tuesday, deputy commander of the PLA Navy Qiu Yanpeng said.

A Singapore Navy frigate arrived on Friday in Qingdao, Shan

dong province, becoming the first foreign warship to arri

ve ahead of a grand event to honor the 70th birthday of the People’s Liberation Army Navy.

The PLA Navy will hold multinational naval activities in Qingdao and nearby waters from

Monday to Thursday to celebrate its founding anniversary. They will include a joint sea parade, high-level sympo

siums, public tours of ships, military music performances and other cultural exchanges.

www.olyfwg.cn

Military drill near Taiwan ‘necessary’sman for the State Coun

Mainland slams response by island’s leader, who called exercise ‘a threat’

A spokesman for the Chinese mainland said a military drill by Chinese bombers and warships around Taiwan on Monday was routin

e and slammed the island’s administration for misleading the Taiwan people and hyping tensions.

On Monday, various warships, bombers and reconnaissance aircr

aft of the People’s Liberation Army Eastern Theater Command conducted “necessary train

ing” around Taiwan as a means to test the joint assault capability between different branches of the military, Senior Colone

l Zhang Chunhui, the theater command’s spokesman, said in a statement on Monday.

The exercise took place in waters east of Taiwan and was part of a scheduled PLA exercise, he said.

“It is completely within the normal legal rights of a sovereign cou

ntry, and it’s beneficial for maintaining peace and security in the Taiwan Straits,” Zhang said.

www.21nh.cn

Hu Kunxu, 17, finds the booklet very helpful, particularly

 at the end of the semester. “The key knowledge is clearly pinpointed, and I make notes.

When the end of the semester arrives, I read it again. It is especially helpful for my exam,” she said.

Wang, the history teacher, said the document iThe Jiangsu teachers have all been given free lodgings next to the scho

ol, so they are close to their students in class and in life. The school also provides societies where the students are fre

e to develop hobbies, such as learning piano or Tibetan calligraphy.s designed to help students study independently. The

core contents still come from the textbook, but they are listed in a more straightforward way.

“After reading it, the students gain a basic understanding of the things they need to research about the subject,” he said.

“Only when they form such a basis can they better absorb the knowledge comm

unicated during classes, instead of mechanically cramming knowledge into their heads.”

www.deng-di.cn

Then Trump claimed — wrongly — that the EU was unwillin

  g to “negotiate with the Obama administration” about trade. In fact, the prev

ious administration sought to conclude a Transatlantic Trade and Investm

ent Partnership — or TTIP — with Europe, though was unable to get the deal across the line. Trump’s own talks on t

rade with Europe have been inconclusive, after he threatened to spark a trade war.

  Trump vs. his global counterparts

  Trump’s comments on Brexit also illustrated the tendency of a Pre

sident who admires dictators to throw allied leaders under the bus.

  He criticized Prime Minister Theresa May, whose credibility has been shredded by parliamentary defeats.

  ”She didn’t listen to that and that’s fine, I mean, she’s got to do what she’s got to do,” said Trump, who was forced into

a rare apology last year after hammering May’s Brexit strategy on the eve of meeting her in the UK.

www.yuyingleyou.com.cn

working well,” presidential spokesman Kim Eui-kyeom said

In Pyongyang, Biegun and Kim Hyok Chol, DPRK’s special representative for US affairs, discussed “advancing Trump and Kim’s

Singapore summit commitments of complete denuclearization, transforming US-(DPRK)

relations, and building a lasting peace on the Korean Peninsula,” the US State Department said in a statement.

Trump and Kim met for their first summit in Singapore last June, during which Kim pledged to work toward the “co

mplete denuclearization” of the Korean Peninsula, without providing a clear timetable or roadmap.

US-led diplomacy aimed at getting the DPRK to abandon its nuclear program in return for outside concessions has since made little headway.

Calling the AU a banner that unites the African countries to pursue self-renewal, Xi praised th

e integration process of the continent and the great headway made since last year under the guidance of the organization.

African countries continue to speak with a united voice on important internatio

nal and regional issues, and the international influence of the continent keeps rising,

www.koryoung.com.cn

The preferential treatment will target those registered as needy

alf a year, on subsistence allowances or recent graduates from higher educational institutions.

The decision allows provincial-level governments to raise tax relief by 20 percent at most, depending on the needs of the region.

Companies who have hired the needy and paid social insurances for them can also en

joy tax deductions to the tune of 6,000 yuan per person a year for three years.

Local governments at provincial levels can lift tax relief by 30 percent at most according to local conditions.

The tax deduction mainly covers value-added tax, urban maintenance and constru

ction tax, educational surcharge and individual income tax and will be effective from Jan. 1, 2019 to Dec. 31, 2021.

A separate statement, which was jointly issued Saturday by the Ministry of Finance, the State Taxation Administration and the Ministry of Vete

rans, said that self-employed veterans can also enjoy all the preferential treatments.

Companies who have hired veterans can also enjoy tax deduction to the tune of 6,000 yuan per person a year for three ye

ars. Local governments at provincial levels can lift tax relief by 50 percent at most according to local conditions.

www.cdyyfq.cn