Given that the US economy is driven by domestic demand, consumption in particular, instead of exports, a high rate of eco
nomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a situa
tion, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.
To make up for the increasing savings gap, the US needs to introduce and use more foreign ca
pital, which will further enlarge the trade deficit. Therefore, the US cannot simultaneously maintain a high g
rowth rate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.
What is really questionable is that, despite its contempt for over-regulation of the economy, the US administration has been tryi
ng to impose regulations on international trade, even for its trade partners’ domestic economic management.
ew stage of preparation for the Games,” said Chen Jining, mayor of Beijin
g and executive president of the 2022 Winter Olympics Organizing Committee. “We will end
eavor to deliver a fantastic, extraordinary and excellent Olympic and Paralympic Winter Games.”
The 1,000-day countdown — launched near the iconic Bird’s Nest and the
Water Cube, both 2008 venues — underlined Beijing’s focus on sustainability in prepa
ring a second time for an Olympic extravaganza by reusing existing resources built for the Summer Games.
According to the 2022 Winter Olympics organizing committee, 11 of the 13 v
enues needed in Beijing’s downtown, where all ice sports will be staged, will use existing faciliti
es built for 2008. Repurposing projects, such as transforming the Water Cube (which hosted swimming in 2008) into a
curling arena by filling the pool with steel structures and making ice on the surface, are well underway.
According to Chilean Ambassador Luis Schmidt, the two countries on Wednesday secured a deal to open the Chinese market to Chilean pears.
He said he is expecting the first pear exports to China to take place soon.
Zhou Jin contributed to this story.
Liu Cailin, a Hebei Academy of Fine Arts graduate, is a member of the Tujia ethnic group.
At school Liu interned at design companies during summer and winter vacations. It wa
s then that he fell in love with jewelry design. Several months after he graduated, Liu opened his own workshop.
For lovers, every gift is special. Liu once received a message: a girl received a leaf from her boyfriend, and wanted to preserve it in some
way. Liu decided to make a silver piece of jewelry for her, one of more than 2,000 stories he’s turned into works of art.
Liu now has more than 1.2 million fans and monthly sales of 150,000 yuan ($22,283), a figure that could top 350,000 yuan.
tment, and it could also leverage on more bank lending and attract private funds to increase investment, said Xu.
In the meantime, allowing retail access to local government bonds will help diversify the
investor base and increase market liquidity, said Amanda Du, an analyst at Moody’s Investors Service.
The analyst expected access for retail investors to widen to encompass all local government bonds in 2020.
hina’s economy grew at a faster-than-expected 6.4 percent year-on-year in the first qua
rter, according to data released by the National Bureau of Statistics on Wednesday.
The growth was unchanged from that registered in the fourth quarter of last year.
The country’s industrial output posted steady growth in the same period, up by 6.5 percent
year-on-year, compared with 5.7 percent in the previous quarter, official data showed.
Fixed-asset investment growth was 6.3 percent in the first quarte
r, compared with 6.1 percent in the first two months, according to the NBS.
Retail sales increased by 8.3 percent year-on-year in the same pe
riod, compared with 8.2 percent in the first two months, the data showed.
hina’s economic growth will remain stable in the first quarter, and is expected to land at 6.3 percent or even higher year-on-year when it is released this week, e
conomists said after some economic indicators for March surprised the market on the upside.
“Downside pressure began to ease in the first quarter, as signaled by the r
ather substantial recovery in various economic indicators in March,” said Yao Jingyuan, form
er chief economist at the National Bureau of Statistics and a researcher for the Counselors’ Office of the State Council.
Chinese banks’ lending in yuan, a leading indicator for the real economy
, surged in March by 1.69 trillion yuan ($252 billion), up 52 percent from a year earli
er, according to the People’s Bank of China, the central bank. The manufacturing purchasing managers inde
x for March, which was back into expansion territory, may be a sign of accelerating industrial activities.
Exports in March also picked up, rising 14.2 percent in US dollar ter
ms from a year ago, versus 0.1 percent for the January-February period, customs data showed.