n macroeconomic terms, the China-US trade dispute ha

as added huge uncertainties to the US economy and raised the likelihood of recession. Which could

thwart the US president’s chances of being re-elected in 2020. And the trade dispute could pre

vent the US from taking the measures it intends to in order to consolidate its national power.

As for China, the significant deviation in the US’ stances and objectives

in the trade talks should be a warning for it to more strictly stick to its principles. And the

fact that the US wants to challenge the laws of economics should not be reason for China to try to do the same.

China may grant official 5G licenses, instead of the interim licenses previously planned, to tel

ecom carriers this year and is likely to start commercial use of the superfast wireless technology na

tionwide in the near future, possibly as soon as October, according to people familiar with the matter.

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In the past several months, China has announced and

started to implement a “negative list” program that allows foreign co

mpanies to have 100 percent ownership in investments in all areas of the economy, excep

t for a small number of areas, such as telecoms and defense, that are explicitly prohibited.

Also, foreign investment has been simplified by creating a one-stop regulatory shop and a single application process.

These new policies will lead to greater competition within China, forcing C

hina’s companies to become more efficient and to produce higher quality products.

The Chinese government has also recently announced tax cuts and financial regulations desi

gned to help private companies. This will hasten the ongoing transition to a market-driven economy.

Most Chinese State-owned enterprises are not relevant to trade negotiations. Many are in non-tradable sectors such as p

roperty development, infrastructure, or concrete. Others are basically public utilities in telecoms or power.

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Most Chinese State-owned enterprises are not relevant to tra

ade negotiations. Many are in non-tradable sectors such as property develop

ment, infrastructure, or concrete. Others are basically public utilities in telecoms or power.

Some Chinese car companies are State-owned, usually by provincial govern

ments, but the car business in China is very highly competitive and foreign brands are very successful.

In any case, the continuing growth of an already large private sector should alleviate foreign concerns

about competing with State-owned companies.

During the George W. Bush administration, the US imposed tarif

fs on Chinese steel, arguing that State-owned companies had an unfair advantage. But, US ste

el companies also face higher costs because of increased environmental protection. China’s current emphasis on bu

ilding an “ecological civilization” means that that kind of polluting heavy industry will be less viable.

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China’s consumer inflation quickens tosumer price ind

China’s consumer price index (CPI), the main gauge of inflation, gr

ew 2.5 percent year-on-year in April, the National Bureau of Statistics (NBS) said Thursday.

The reading, in line with market expectations, accelerated from the 2.3 percent gain in March and 1.5 percent in Febru

ary. On a monthly basis, consumer prices edged up 0.1 percent, compared with the 0.4 percent drop seen a month earlier.

NBS official Dong Yaxiu attributed the rise to higher prices of vegetables, pork and fruit, which ros

e 17.4 percent, 14.4 percent and 11.9 percent, respectively, from the same period last year due to tighter supplies.

Food prices, which account for nearly one-third of weighting in China’s CPI, went up 6.1 percent year-on-year.

Meanwhile, China’s producer price index (PPI), which measures inflation at the factory gates, rose

0.9 percent year-on-year last month, up from the 0.4 percent gain in March that showed improving market demand.

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plemented more favorable visa policies for Chinese student

he said. The report also found that studying overseas is no longer limited to wealthy fam

ilies, and the number of students from middle-class families studying overseas keeps growing.

According to the survey on parents’ professional backgrounds, most parents whose children prefer studying overseas hold o

rdinary positions at work, accounting for 43 percent of the total, up 14 percentage points from 2015.

Parents who are middle-level managers accounted for 35 percent, and those who are high-level executives accounted for 22 per

cent, the report said. The number of students studying overseas for master’s degrees continues to increase, a

counting for 70 percent of the total, up from 57 percent in 2016. They are studying ov

erseas to obtain higher academic qualifications and be more competitive in the domestic job market, it said.

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The overall stability of China-US relations over the pa

four decades has been a blessing to not only our two countries, but the whole world,” said Cui Ti

ankai, Chinese ambassador to the US, in his remarks during the awards presentation.

“And the essence of the 40-year story is amity between the peoples, which lays the foundation for

and shapes the future of our relations,” he said, adding that the stories shared by peoples from the two cou

ntries through the My China Album series will always “be a source of inspiration and motivation for us”.

Hundreds of US citizens participated in the series from Feb 6 to April 19, sharing their personal stories about China thro

ugh photos and captions. Ten of the participants were recognized for their genuine and touching stories.

“I was so honored to win first place in this year’s My China Album,” said

Max Horne, an incoming Harvard University freshman who visited Yunnan province years a

go and studied the Naxi culture, a local ethnic group. “There’s endless culture for us to appreciate.”

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The Portuguese president is in Beijing on a state visit.

He also attended the Second Belt and Road Forum for International Cooperation, which concluded on Saturday.

Bilateral trade reached over $6 billion last year, a year-on-year increase of 7.4 percent, according to the Ministry of Commerce.

Rebelo de Sousa said the two countries should translate their long-term friends

hip into future-oriented partnership, adding that he is fully confident of the prospects of the ties between them.

He said his attendance at the forum demonstrates his country’s

resolute support for the initiative. Portugal wants to build even closer links with China in trade, i

nvestment, science and technologies and culture, and develop the third-party market cooperation, he said.

Portugal supports intensification of European Union-China partner

ship and jointly safeguarding multilateralism and promoting free trade, he added.

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Xi said China’s moves to boost opening-up follow from

 an independent choice based on the objective need of the country’s reform and development.

This is helpful in promoting high-quality growth, meeting the people’s need

s for a better life and promoting peace, stability and development of the world, he said.

China also hopes that other countries will create a good investment environment, treat Chinese enterpris

es, students and scholars equally and create a friendly environment for their normal international exchange activities, Xi said.

Xi pledged to take stronger measures to promote international cooperation in protecting intellectual pro

perty, which he said is not only crucial to protecting the legal rights of companies but also to promoting high-quality growth.

China will enhance policy coordination with the world’s major economic entities and j

ointly promote the robust, sustainable, balanced and inclusive growth of the global economy, he said

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After making a couple of reconciliatory gestures, suc

ch as freezing nuclear and missile tests and demolishing some test sites, Pyongyang want

s something in return. Which is not unreasonable, but so far has not been forthcoming.

Washington should not anticipate Pyongyang denuclearizing in a wholesale, one-off mann

er. After all, its nuclear missile programs are the sole bargaining chip it has in its hands.

Rather than surrender its nuclear arsenal in a wholesale manner, it is in Pyongyang’s best inte

rests to turn its engagement with Washington into an arms control regime between two nuclear states.

It may be that a third Trump-Kim summit happens. But meaningful hea

dway in denuclearization entails more than what the two sides appear ready to offer at the moment.

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nd Turkey, disruptions to the auto sector occurre

rred in Germany, and financial tightening in larger adva

nced economies have all contributed to a “significantly wea

kened global expansion”, said IMF Chief Economist Gita Gopinath.

“With this weakness expected to persist into the first half of 2019, o

ur new World Economic Outlook projects a slowdown in g

rowth in 2019 for 70 percent of the world economy,” she wrote in a blog on Tuesday.

With improved prospects for the second half of 2019, global growth in 2

020 is projected to return to the 2018 level of 3.6 percent, according to the IMF report.

“This recovery is precarious and predicated to reboun

d in emerging markets and developing economies, wher

e growth is projected to increase from 4.4 percent in 2019 to 4.8 percent in 2020,” Gopinath said.

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