In contrast, the US seems to take it for granted that tarif

s are a weapon it can employ to bring China to its knees and extract one-sided

concessions, apparently ignorant to the fac

t that China is not what it was in the late 1800s and early 1900s when the country was forced into signing humil

iating treaties, which resulted in the opening of trading ports and paying of indemnities to Western powers.

Perhaps the blame for the breakdown in the talks should be laid at the door of the mind-set o

f the West, which sees only winners and losers, rather than a holistic whole in

which all benefit from each other.

That Eastern viewpoint explains why

China still hopes that the US will meet it halfway for

the benefit of both countries and both

peoples as well as the development of the world economy.

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Not only are there missing links on the causality chai

 between long-term structural factors and actual economic performance, it is also unclear how long those factors would take to constrain GDP growth to a part

cular level. In fact, 20 years ago, the same long-term factors were used to warn of a possible fall in Chinese GDP growth.

Because of the complexity of China’s growth trajectory, many economists seem to base their assessments of potenti

al on performance. After every drop in China’s GDP growth since the second quarter of 2012-when growth fell be

low 8 percent-economists have emerged to declare that performance was in line with potential.

Difficult to determine potential growth rate

To be sure, there are various estimates of China’s potential growth rate, ranging from 5 perc

ent to 8 percent. But it is difficult to determine which is reliable. For one thing, there is reason to believe that

most estimates fail to discount cyclical factors adequately when calculating the long-term trend.

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Government pledges more red tape cuts of items requiri

China will further cut the number of items requiring certificatio

n and refine the procedures through institutional inno

vation to improve government services and foster a more enabling business environment.

The decision was made at the State Council’s executive meeting, chaired by Premier Li Keqiang on Sunday.

Participants at the meeting agreed that the government’s efforts in recent years to repeal unwarranted certification requ

irements and deepen the reform of government functions have produced notable results.

“These are crucial steps benefiting both companies and individuals

,” Li said. “At a time when the economy still faces uncertainties, removing these unjustified cer

tification requirements will help boost market vitality and improve the business environment.”

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hina’s growth a source of hope for allong proclaimi

With Chairman Mao Zedong proclaiming the founding of the People’s Republic of China on

Oct 1, 1949, the Chinese people began leaving behind a century of colonial humiliation and building a new life.

What remains poorly understood by the wider world even seven decades later is how dire were

the conditions in China during those days. While China sustained its triumph, Chinese people’s living stan

dard 70 years ago was barely 5 percent relative to their counterparts in the United States.

It was a dire starting point.

Transitions that raised China’s living standard

In the late 1970s, Deng Xiaoping introduced “reform and opening-up” policies

and established special economic zones, which ultimately facilitated China’s entry int

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i also called for the two countries to further enhance

exchanges between their legislatures, political parties, youth, think tanks, media

and local authorities to cement their people’s support for friendly bilateral ties.

Bhandari said the joint building of the Belt and Road is a historic initiative and has an important global influence.

The initiative has served as a good platform for Nepal-China cooperation, she said.

The Nepali president expressed her congratulations on the

70th anniversary of the founding of the People’s Republic of China, and said

it is admirable what the Chinese people have achieved under the leadership of the Communist Party of China.

China is a true friend of Nepal, and Nepal sees opportunities in China’s prosperity and stability, Bhandari said.

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Also, the UNOOSA just signed a framework agreeme

 with China, allowing UN member states to participate in its scientific missions for the exploration of the solar system. It will bri

ng scientists from all over the world to work together, which will bring a lot of innovation,” she added.

The meteorological satellite jointly designed and constructed by

Chinese and French scientists has already started to send back data on the wind and ocean wave

s after it was sent to orbit by a Chinese rocket in October. The data can help scientists learn more about climate chan

ge, said Lionel Suchet, chief operating officer of the National Centre for Space Studies of France.

“In 2021, France and China plan to jointly launch an astronomical satellite to help the world deepen

its understanding on the gravitational wave,” Suchet said. “Space is our future, we need to step into it together.”

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The book includes 42 articles drawn from speeches an

 public remarks made by Xi from September 2013 to July 2018.

Since Xi proposed the BRI in 2013, he has spoken about the initiative on many occasions.

The discourses have provided guidance for the country to develop international cooperation, i

mprove global economic governance and promote the building of a community with a shared future for mankind.

Russia – There is no alternative to the peaceful solution of nuclear and

other issues on the Korean Peninsula, Russian President Vladimir Putin said Thursday, follow

ing a meeting with top leader of the Democratic People’s Republic of Korea (DPRK) Kim Jong-un.

Russia, for its part, is ready to continue cooperation to reduce tensions on the peninsu

a, and to strengthen security in Northeast Asia as a whole, said Putin at a reception in honor of Kim.

Putin said he was convinced that with active participation of the international community and all inte

rested states, the goal of ensuring lasting peace, stability and prosperity on the Korean Peninsula can be achieved.

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Govt plans slew of policies to boost consumption

A slew of new policies aimed at encouraging consumption

in key sectors will be unveiled soon, China Securities Journal reported.

China’s retail sales of consumer goods rose 8.3 pe

rcent year-on-year to 9.78 trillion yuan ($1.46 trillion) in the January-M

arch period, according to the National Bureau of Statistics (NBS). In March alone, retail sales went up 8.7 pe

rcent to 3.17 trillion yuan, quickening from the 8.2-percent rise seen in the first two months.

In recent years, the government has, on the one hand, frequently intro

duced policies to promote opening-up, increase import and improve consumer welfare. On

the other hand, it has reduced and scrapped import tariffs on some consumer goo

ds. This has played an active role in consumption, Lian Ping, chief economist at Bank of Comm

unication said, adding that consumption still is the key driver for economic growth.

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A large number of Chinese cultural heritage sites are b

eing restored as well. We have no room for even the slightest error,” Song said.

Liu Qingzhu, a cultural heritage expert at the Chinese Academy of Social Sciences, said, “In anci

ent times, thunderstorms were the biggest threats for wooden architecture. They became much safer after l

ighting rods were widely installed. However, the use of electricity in restorations has created a new problem.”

Unlike the stone structures of much ancient architecture in the W

est, wood was the primary building material in ancient China. “If a fire similar to the one at Notre

Dame in Paris happened at a Chinese building, the whole building would probably burn down,” Liu said.

Hours after the fire in Paris, the Palace Museum in

Beijing, China’s former imperial palace from 1420 to 1911 and also known as the Forbidden City, held an eme

rgency meeting to go over its fire-prevention efforts. It is the world’s biggest architectural complex made of wood.

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Ma Xiaoguang, spokesman for the State Council’s Taiw

wan Affairs Office, said in a statement on Tuesday that the exercise aimed to protect national sover

eignty and territorial integrity, as well as protect the common interests of people from both sides of the straits.

Taiwan’s administration, led by the Democratic Progressive Party, used the drill as an opport

unity to “deceive and mislead the residents of Taiwan and to provoke and escalate a cross-Straits confrontation,” Ma said.

“Its goal of undermining cross-Straits relations and the peace and security of the region will not succeed,” Ma said. “Nobo

dy should underestimate our adamant resolve and ability to protect national sovereignty and territorial integrity.”

On Tuesday, Taiwan leader Tsai Ing-wen said she will not be intimidated by the military d

rill, calling the exercise “a threat to Taiwan” and an act of “coercion”, the island’s media reported.

Tsai also thanked the United States for considering a deal with Taiwan to renew a $500

million training program in the US for Taiwan F-16 pilots and maintenance crews.

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