Recent monetary and fiscal stimulus measures are expe

cted to bolster domestic demand, partially offsetting the adverse impact of trade tariffs on overall growth,” the report said.

The US recently signaled its intention to impose additional tariffs on the European Union, primarily targeted at the

aircraft and food industries. It is in addition to the imposition of steel and aluminum tariffs that are already in place.

Amid unresolved trade disputes and higher tariffs, the projected growth of world tra

de has been revised downwards to 2.7 percent in 2019, slowing markedly from 3.4 percent in 2018.

The report warns that “the impact of a spiral of additional tariffs and retalia

tions would not only dampen growth of these large economies, but also have severe spi

shlfcl.com

Conflict also disrupts growth. Although many conflic

icts appear to have a religious or ethnic basis, some scholars believe their root cause may be economic, with ethnic divisio

s serving as a way to exclude other groups from access to scarce resources and opportunities. Whatever its so

urce, inequality of opportunity has a highly disruptive effect on governance and hence growth.

But these obstacles are not insurmountable. For one th

ing, developing countries now have huge potential export markets in middle-inc

ome countries, and no longer depend entirely on advanced economies for access to global markets.

Belt and Road can play vital development role

There is also a renewed awareness of the importance of infrastructure in e

nabling growth. In addition to roads, railways and ports, electricity and digital conn

ectivity are crucial. In this regard, the rapid expansion of cellular wireless technology, combined with the install

ation of high-capacity undersea broadband pipes around Africa, represents major prog

www.blghuafenchi.cn

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

China’s tech heavyweights said the digital economy ha

s become a driving force behind economic growth, and interne

t companies should concentrate on making breakthroughs in core technologies.

“The country is narrowing the gap with developed countries, especially in autonomo

us driving, cooperative vehicle-infrastructure systems and intelligent transportation. We started a little late, but o

ur pace is faster and our potential is bigger,” said Robin Li, chairman and CEO of leading Chinese search engine Baidu Inc.

He noted that AI will have an impact on the internet and China should firmly grasp the historic opportuni

ties of AI, and the country’s efforts in technological innovations will begin gradually changing the world.

Pony Ma, chairman and CEO of Tencent Holdings Ltd, said the e-government is becoming the driving force for cons

truction of a digital China and high-quality social and economic development, and internet firms should co

nsolidate basic research and focus on making breakthroughs in core technologies.

www.hheeh.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

Vehicle sales in China continue to drop, NEV sales rise

hinese sales of passenger vehicles, MPVs, SUVs and minivans in March dropped 12 percent on a yearly basis to 1.78 million units.

This is the 10th consecutive monthly decrease, according to the C

hina Passenger Car Association (CPCA), Changjiang Times reported.

The MPV sector saw the largest sales decline, 20.2 percent to 130,000 units in the pas

t month, while SUVs and sedans dropped 10.7 and 12 percent, respectively.

The decreases in 2019’s first quarter are mild compared with those at the end of the last year, CPCA said.

As the State-VI emission standards will be implemented from July 1 this

year, some Japanese brands have launched corresponding products ahead of their co

unterparts, and performed well in sales and consumer confidence, CPCA said.

“Automobile sales in North China, and those in the county and township level, are still weak,” the association added.

hheeh.cn

In a spectacular display of indecision, the House of Comm

ons has voted against remaining in the EU and every version of leaving the EU,” tweeted James Cleverly, the Conservative Party’s deputy chairman.

Nevertheless, some proposals fared better than May’s deal had done two weeks ago, and parlia

ment was due to hold more indicative votes on Monday after refining the options most likely to secure a majority.

Many Conservative eurosceptics had made clear they would only c

onsider supporting May’s deal if she gave a firm commitment to resign, hoping a new leader

would be more sympathetic to their views when negotiating the terms of Britain’s future relationship with the EU.

“I have heard very clearly the mood of the parliamentary party,” May told a meeting of Conservative lawmakers (MPs).

“I know there is a desire for a new approach – and new lead

ership – in the second phase of the Brexit negotiations – and I won’t stand in the way of that.”

But within hours of May’s offer, the Democratic Unionist Party, which props up her minority gov

ernment, said it would vote against the deal if May brought it back a third time.

chuangxiangjie.cn

A $50 million rescue and rebuild mission is now underway to

repair roads, bridges, schools, communication lines and provide healthcare to

those affected. The country is in poor shape to withstand the financial impact of a disaster: Zimbabwe is cur

rently in the grip of a deep economic crisis.
The Zimbabwe Information Ministry shared pictures of some pupils who had been res

cued from a boarding school in Chimanimani District, one of the worst-affected areas in the east of the country. Br

idges were swept away, and power and communication lines in the area have been cut off.

St Charles Lwanga School children are now safely in Chiping

e and currently receiving medical attention. pic.twitter.com/Ad9LSC7WhS

— Ministry of Information, Publicity & Broadcasting (@InfoMinZW) March 18, 2019

This cyclone follows a week of heavy rains and flooding across southeast Afri

ca that affected 1.5 million people in Mozambique and Malawi, killing at least 120 people in both countries, UN

hdflower.net.cn

Chinese women spending more on themselves: report

hinese women are buying more for themselves than they have in the past, according to a new report on Chinese women’s consumption.

The report was released one day before this year’s International Women’s Day by Alibaba’s e-commerce platform, Tmall.

More women are spending to please themselves instead of other

people, the report said. Tmall’s data showed that women’s consumption of books, tourism expe

riences, wire-free bras, flat shoes, flowers and other “treat-yourself” products continues to grow significantly.

Women born in the 1980s placed a total of 48.06 million book orders on

Tmall in the past year, while according to data from Fliggy, Alibaba’s travel arm, the same

group spent most on travel, China’s Hong Kong, Japan, Thailand, China’s Macao and Singapore their favorite destinations.

www.cn-yongan.com

New rocket engine to lift heavier satellite loadcommercial

China has developed a world-class solid-propellant rocket engine that is expected to boost the country’s capabilities in launching small satellites, its developer said.

The Academy of Aerospace Solid Propulsion Technology in Xi’an, Shaanxi province, a subsidiary of China Aeros

pace Science and Technology Corp, announced that the first ignition test of the engine was successfully made on Tuesday.

The academy said in a statement that the engine uses several ad

vanced technologies and high-performance composite materials and has world-class capa

bility. It can be used with the country’s new-generation solid-fuel rockets, giving such rockets more power to l

ift small satellites and also promising good competitiveness in the commercial launch market, it said.

The academy said the engine has a diameter of 2.65 meters, contains 71 metric tons of solid p

ropellant and produces 200 tons of thrust-making it the biggest and most powerful known solid

-propellant engine in China. The engine that previously held that distinction is made by the China Aer

ospace Science and Industry Corp Fourth Academy in Wuhan, Hubei province, and produces 180 tons of thrust.

trwater.com.cn