ronically, the Fed’s statem上海夜网hanged econom

mic conditions, solid job gains and moderately rising economic activity, though so

上海夜网ft business investment-did not necessarily warrant a rate cut (the decision was not unanimous). What mo

tivated Fed Chairman Jerome Powell’s decision may well have been the muted inflation pressures and par

上海夜网品茶微信ticularly global growth concerns, which the White House has undermined since the onset of its tariff wars in spring 2018.

Interestingly, the Fed cut did not cause a rally; it stumped the market. S&P 500 dropped almost上海夜网

2 percent and 10-year Treasury yields to about 2 percent. The Fed’s interest cut does not imply a start of a new r

上海夜网ate cut cycle. Instead, it does mean the post-2008 recovery is now over with darker clouds looming on the horizon.

Tariff wars cloud US and global forecasts

When US President Donald Trump assumed office in January 2017, he pledged GDP growth at 4 percent. More recen上海夜网品茶微信

tly, he projected US growth at 3 percent. Yet analysts estimate US growth this year at 2.5 percent or less. Qua

上海夜网litative assessments suggest deterioration, as the growth of domestic demand is slumping.

Worse, US GDP growth forecasts for 2020 indicate softening to 1.8 percent, possibl

y a (near-recession) slowdown-especially if trade and tech wars still escalate. In the absence of negative su上海夜网品茶微信

rprises, China’s GDP growth is likely to stay within the target of 6.2 percent in 2019 and possibly in 2020 as well, with su

上海夜网pportive fiscal and monetary conditions. US tariff wars are likely to penalize the Chinese economy by less th

an 0.5 percent of GDP, which could be offset by just a modest depreciation of the renminbi.

If recent policy mistakes in the White House prevail, slower growth in investment上海夜网品茶微信

spending, rising concern for continued trade wars and destabilizing geopolitics are likely to foster downside risks

上海夜网in global economic prospects, as risks for further downgrades morph into actual realities.

The author is the founder of Difference Group and has served at India, China and America In

stitute (US), Shanghai Institutes for International Studies (China) and the EU Cen上海夜网品茶微信

tre (Singapore). The views of the article do not necessarily represent those of China Daily.

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It will no doubt do ha上海夜网elihood of Hong Ko

Kong,” Chan said. “I hope lawmakers from different political camps, as well as the entire co

mmunity, will calm down and give some priority to these critical issues yet to be addressed.”上海夜网女神会所

Lam Ching-choi, a member of the Executive Council-the top policy advisory body to the chief executive-who is not a g

上海夜网女神会所overnment official, said he regretted that political bickering has become more important than people’s livelihoods.

Lam said that if hospital infrastructure projects are delayed, the burden of the public healthcare shortage in Hong Kong will be aggravated.

hina and the United States need to build stronger mutual trust and understanding to advance their economic and trade consultation, experts said.上海夜网

This call came after President Xi Jinping and his US counterpart Donald Tr

上海夜网女神会所ump agreed on Saturday at the G20 Summit to resume trade talks that were stalled in May.

“The Xi-Trump meeting at the G20 Summit is of great significance,” said Dong Yan, director of the international trad

e office at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences.上海夜网

The consensus reached between the two leaders to advance bilateral relations featuring “co

ordination, cooperation and stability” can guide the future direction of trade talks, Dong said. “It will help the two上海夜网女神会所

countries to get the talks back on track, which can ease the downward pressure on global economic growth,” she said.

Although there are good prospects for the future, Dong noted, “There will be twists and turns

along the way, so more mutual trust and understanding is needed between the two sides.”

China and the US have been embroiled in a nearly yearlong trade disput

e, and have exchanged tariffs on billions of dollars of each other’s imports. Before the top lea

ders’ meeting at the G20 Summit, negotiators from both sides had held 11 rounds of high-level talks.

Wang Xiaosong, a professor of international trade at Renmin University of China’s School of

Economics, said both negotiating teams need to make continued efforts in the upcoming negotiations.

“Trade talks should be conducted in the spirit of equality and mutual benefit. Negoti

ators need to enhance their mutual trust and get a greater understanding of each other,” he said.

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And since a lot more上海夜网品茶微信nts are now mo

 will have to do th上海夜网品茶微信eir bit by reviewing their pay scales and ensuring employees can upgrade their skills. Candidates, on their

part, will need to adopt a pan-GBA perspective if they want to tap the potential of the GBA to realize their own.

The development of the GBA offers companies and candidates fantastic opportunities, but a

lso challenges. And both companies and talents will need to ensure they are ahead of the competition cu

rve if they want to leverage the opportunities offered by the vision for the GBA.

The author is managing director of Hays, Greater Bay Area. The views don’t necessarily represent those of China Daily.

www.sh419bb.com

In April last year, China announced the decision to supp

port Hainan in developing the whole island into a pilot free trade zone, the 12th and the largest in the

country, to gradually explore and steadily promote the establishment of a free trade port with Chinese characteristics.

The Haikou Jiangdong New District covers 298 square kilometers o

n the east coast of Haikou, and will have two parts: a 106-sq-km ecological region boasting a key n

ational wetland natural reserve, and a 192-sq-km area that will serve both industrial and urban purposes.

The provincial government said Haikou should pay great attenti

on to ensure that environmental quality is advanced in an all-round way while developing the new ben

chmark area. This will integrate such new features as headquarters economy, commercial and financial business, inter

national consumption, cultural exchanges, and scientific and technological innovation.

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Foreign Ministry spokesman Lu Kang said on Thursda

that enterprises in any country will not disregard their own interests and blindly follow other countries’ “political command”.

“Most countries have always been highly alert to US government acts of

resorting to state power to crack down on companies in other countries, disrupt m

arkets and obstruct mutually beneficial cooperation between other countries,” Lu said.

But the positive development is also accompanied by some concerns. A string of Japanese

carriers, including NTT Docomo, said they were also considering delaying the launch of Huawei’s new sma

rtphones. Their hesitance is due to uncertainty about Google’s previous announcement that it would restrict H

uawei’s access to updates of the Android operating system in compliance with a US ban.

www.ganghuiyinyue.cn

Telecom carriers, chipmakers and smartphone vendors

 in China are ready to commercialize 5G. China will directly grant 5G licenses, instead of the prev

ious plan to give several key cities interim 5G licenses, to better time the rollout,” said a source clo

sed to the telecom industry regulator who asked to remain anonymous because public statements are not authorized.

Michael Gao Wenhao, deputy general manager of the 5G industrial products line at ZTE, disclosed at a 5G conference in

Hong Kong on Thursday that “China is likely to start commercial use of 5G nationwide on Oct 1”.

He told China Daily that he got the information from the country’s major telecom operators.

China said earlier that it was considering a pre-commercial launch of 5G this year, follo

wed by large-scale commercialization in 2020. Miao Wei, minister of industry an

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To avoid such a situation, fathers should share the

 responsibilities of raising a child in equal measure, which w

ill ease the burden on the mothers as well as help the children learn more diverse life skills.

If fathers do not share the responsibilities of raising a c

hild, the mother-child bond could become so insulated that even the father might find it hard

to become part of it. Therefore, Chinese women would do good to take a step back and involve their husbands in hou

sehold affairs, including in raising children. Women should learn to refuse to sacrifice themselves for the sake of the fam

ily and, instead, work to fulfill their other goals in life, including building their careers, and ask their husbands to fu

lfill their part of the obligations to the family even if it means going against tradition.

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He said an ideal souvenir is one that is practical, rem

niscent of local experiences, artistic and portable. “The souveni

r market is huge and growing, given the expanding Chinese middle-inc

ome population and consumers’ increasing purchasing po

wer. But to earn money in this market, souvenir-makers should do a much better job.”

China has the world’s largest and fastest-growing middle-income group (more than 400 m

illion, or 140 million families as of 2017), said Ning Jizhe, head of the National Bureau of Statistics, in January.

Their annual family income is between 100,000 yuan and 500,000 yu

an. This enables them to buy cars, properties and tourism packages, Ning said.

“Many im2pulsive purchases will be made during travels, either for self or to gift to relatives and friends,” said He.

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The national landmark has received thousands of visitors

from China and overseas since it opened in 1968. Leaders from more than 70 countries and over 600 delegations from 150 nations have visited it.

During the three days it reopened to the public before taking road traffic in December, the bridge had more than 200,000 visitors.

The 4,589-meter-long structure reopened after 27 months of repairs. As China’s first home-designed road and rail truss bridge, it has been p

raised and loved by many. A truss bridge is one whose load-bearing superstructure is composed of connected elements forming triangular units.

Liu Yong, 63, a retired teacher from Nanjing, said he was in elementary school when the bridge first op

ened. Without telling his parents and teachers, he and his classmates walked more than 10 kilometers to see it.

“It was the most magnificent structure I had ever seen. When our relatives visited Nanjing, we

took them to see the bridge instead of visiting other well-known places of interest,” Liu said.

Zhou Lei, who lives in a residential community near the bridge, said that when he was an elementary school student in Ya

ncheng, Jiangsu, his father promised him that he would take him to see the bridge if he had high scores in his final exam.

www.qinhuaili.cn

The President’s emergency Proclamation reasonably descr

  ribed the current situation as an ongoing ‘border security and humanitarian crisis,'” Boyd adds. “The cris

is at the border … may qualify as an emergency even though it, too, is not entirely new.”

  Twelve Republican senators banded together Thursday to deliver the f

orceful rebuke after expressing concerns that Trump’s use of the national emergency decla

ration as an end-run around Congress violates the separation of powers and sets a bad precedent that a woul

d-be future Democratic president could follow to unilaterally drive their agenda.

  The White House sought to pare back Republican defections leading up to the vote, with the President and White House aides

making clear to Republican senators that a vote against Trump on this issue would have ramifications come re-election time.

  Trump rejected entreaties from several Senate Republicans t

o agree to a compromise that would curtail his national emergency powers and instead fra

med the vote not as a matter of constitutional concerns, but rather as a litmus test on border security.

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