Comments Off on Second, out of expectations of politicians from powerful
countries, who claim their nations represent public interest, globalism is becoming a tool in the fight between capitalist forces an
d national will. As a result, state power is eroded by capital, leading to alienation and political strains in some countries.
It is believed that some countries cannot bear the negative effects of globalization. The main reason for t
his is that capital is equipped with increasingly powerful characteristics that weaken nations’ capa
bility to control their capital and eliminates sovereign states’ ability to embody the will of the people.
The hit on state power by capital not only leads to financial chaos, triggering financial and economic crise
s, but can also generate social and political woes. Western countries’ easing financial regulations resulted in the 2008 financial c
risis. In recent years, developed countries are experiencing increasing economic and political challenges, which a
ctually are extensions of the 2008 financial crisis. Some of them are yet to be addressed.
Economic liberalization faces challenges in the developed and developing world.
Comments Off on As election looms, Thais yearn for stabilityl Times Publish
Thailand’s Election Commission rejected Princess Ubolratana Rajakanya’s candidacy for next month’s general elec
tion on Monday. This is in keeping with the Thai tradition that says the monarchy must remain above politics.
This incident has added another twist to the election the run-up to which has been complicated.
In 2014, Thailand’s military seized control of the country after negotiations with rival political factions failed. Sub
sequently, then head of the army General Prayuth Chan-o-Cha took over as the Prime Minister. It is expected that the up
coming general election on March 24 would end the more than four-year-old rule of Prayuth’s junta.
However, originally scheduled for February, the election was postponed by one month due to King Maha Vajiralongkorn’s coronation, which led to unrest.
The military government has not done much for economic development, regardless of its con
tribution to social stability. Thus, the public hopes the election be held as soon as possible so th
at the junta can hand state power back to the people and the nation’s economy can be developed.
Hence, any news of election delay unsettles Thai people. Fortunately, one month is not too long a wait.
Comments Off on German Chancellor Angela Merkel expressed the hope on Febru
that China should be involved in international disarmament efforts. “We would of course be glad if such talks were held not j
ust between the United States, Europe and Russia but also with China,” said Merkel at the 55th Munich Security Conference.
Her remarks were clearly directed against Washington and Moscow’s withdrawal from the Intermediate-Range Nuclear Forces (INF) Treaty.
Yang Jiechi, a member of the Political Bureau of the Communist Party of China Central Committee,
who was also present at the conference, reiterated that “we [China] are opposed to the multilateralization of INF.”
The INF treaty concerns Europe and Germany’s interests. The US took the lead in abandoning INF, resulting in the collapse of the arms control system.
It is understandable that Berlin is anxious, but Merkel’s hasty call for Beijing is rath
er inappropriate. Her words disrespect China’s interests and wishes, and objectively encourage Washington to quit irresponsibly.
Comments Off on meets with trade negotiatorsites important progress in
ina would like to address the problems of economic and trade frictions with the United States in a cooperative way to promo
te the conclusion of a deal accepted by both sides, President Xi Jinping said on Friday.
Xi made the remark while meeting with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuch
in in Beijing. The meeting came after the conclusion of two days of high-level economic and trade consultations.
Xi added that certain principles are necessary for cooperation.
Chinese and US consultation teams made important progress for the curre
nt stage, and the two negotiating teams will meet again in Washington next week for f
urther discussions, Xi said. He added that the both nations should make more efforts for a win-win deal.
The two countries’ economic and trade teams have had frequent and helpful consultatio
ns since December, Xi said. He has emphasized many times that cooperation is the best choice for China and the US.
Comments Off on ercent from 8.1 percent at the end of December, the central
It’s hard to say that China entered a new cycle of credit expansion,” said Zhang Ming, chief eco
nomist at Ping An Securities. “For the whole year, the overall financing growth and money supply is expected to stabilize.”
Fast credit expansion means higher pressure on companies to repay debt and interest, and the space for sustainable credit growth i
s limited, given the current leverage level. Total outstanding debt has exceeded 250 percent of GDP, Zhang said.
The good news is that credit has been channeled effectively into the production sector, such as manuf
acturing and high-tech, and the healthier credit structure can support the overall economic r
estructuring reform, said Ruan Jianhong, head of the central bank’s statistics and analysis department.
hina and the United States will continue economic and trade consultations in Washington ne
xt week, after reaching consensus in principle on major issues during their high-level Beijing talks, State media reported.
According to Xinhua News Agency, the two sides had in-depth communication on topics of mutual concern including tec
hnological transfers, intellectual property rights protection, nontariff barriers, the service industry, agr
iculture, the trade balance and an implementation mechanism, as well as on particular issues of concern to China.
Comments Off on He said it’s important to keep a historical perspective on
cting the outlook of China-US bilateral relations, saying that the two economies became deeply integrated over the past 40 years despite some headwinds.
“In the next four decades, China and the US can further promote mutual understanding while properly handling differences,” he said.
January marked the 40th anniversary of the establishment of China-US diplo
matic relations. Bilateral trade grew from less than $2.5 billion 40 years ago to more tha
n $630 billion in 2018. Over the same period, two-way investment rose from practically nil to more than $240 billion.
Chinese Ambassador to the US Cui Tiankai said at a recent event that China an
d the US need to develop even stronger ties in the future despite some differences.
“We need to develop an even stronger relationship on the basis of coordination, cooperation and stability” between the two countries, Cui said.
He said it was important for the two sides to have a much better mutual understand
ing on each other’s intentions and policies and identify common ground to stabilize the relationship.
China’s exports to the US climbed 1.9 percent year-on-year to 252.11 billion yuan ($37.21 billion) last month, according to official figures. During the peri
od, foreign direct investment from the US into the Chinese mainland recorded a 124.6 percent year-on-year growth.
Comments Off on Ministry of Education addresses Zhai plagiarism case
The Ministry of Education has zero tolerance for academic misconduct and has ordered relevant universities and education authorities to investigate pl
agiarism allegations leveled at actor Zhai Tianlin, a ministry spokeswoman said on Friday.
The investigation will not only include Zhai’s plagiarism allegations, but also possible miscond
uct of other people that allowed this to happen, ministry spokeswoman Xu Mei said at a news conference.
“We have zero tolerance for behaviors that ignore academic rules and standards and undermine education equality,” she said.
The universities and Beijing education authorities will seriously look i
nto the case and publish the investigation’s results as soon as possible, she added.
The Beijing Education Commission and the Education Work Committee of the
Beijing Committee of the Communist Party of China sent an investigative team to
the Beijing Film Academy － where Zhai got his PhD－to look into the matter, the academy said on Thursday.
Comments Off on Market expectations for interest rate cuts have been rising in
China after Spring Festival. Before embarking on their next move in interest rate reform, however, policymakers need to assess dom
estic macroeconomic conditions in order to reduce financing costs. It is more urgent to let the financial market determine the lending rate, Sun said.
“We hope (policy fine-tuning) will not surprise the market when it is introduced,” Sun said.
Communication with other countries is also needed before launching new policies or introdu
cing creative monetary policy tools, and “the PBOC has good communication mechanisms with other c
entral banks including the US Federal Reserve and the European Central Bank”, Sun said.
Last year, the PBOC removed some constraints on credit, including liquidity in
jection through cutting the reserve requirement ratio four times and capital rep
lenishment by allowing commercial banks to issue perpetual bonds, which have no maturity rate, he said.
Chinese commercial banks, however, are still using the one-year lending rate of 4.35 percent — th
e rate commercial banks charge businesses — set by the central bank in 2015. It is higher than in
terbank market rates or the interest rates banks have been paying to the central bank of 3.05 to 3.30 percent.
Comments Off on Space a new realm for Sino-US cooperationational Space Ad
After the successful landing of the Chang’e-4 lunar probe on the far side of the moon on Jan 3, Ch
ina is planning to launch Chang’e-5, a more advanced lunar probe, later this year to collect samples from the moon.
The Chang’e-4 mission, the first such mission in history, was an important m
ilestone in the lunar exploration program of not only China but also the wo
rld. About 50 years ago, the United States’ Apollo 11 landed the first humans on the moon, marking a critical step in spa
ce exploration. But no human has landed on the moon after 1972. Since Apollo 11, according to the US, effectively en
ded its space race with the Soviet Union, the Americans abandoned all ambitions to further explore space.
“Project Apollo” did not prompt other countries to join the space race because no country ot
her than the US and the Soviet Union could afford the huge costs. Even the US found it extremely difficult to s
ustain the project. For example, the cost of launching the Saturn V rocket, the carrier of Apollo 11 in 1969, was nearly $40
0 million, almost equal to the total budget of the US National Science Foundation that year.
Comments Off on Holiday week spending over 1 trillion yuannd day of the Chin
Chinese consumers opened their wallet during Spring Festival, not only on things like digital home appliances and importe
d fresh food but also on experiences such as travel and entertainment, government figures showed.
Shopping, dining out, travel and entertainment accounted for most of the consumer spending during the week-long hol
iday. Analysts and officials said the strong domestic demand will inject further growth momentum into the eco
nomy in 2019 as the government unveils more policies to spur consumption.
Spending on retail and food services during the Spring Festival period, from Feb 4 to Sunday this year, exceeded 1 trilli
on yuan ($147.41 billion) for the first time, up 8.5 percent year-on-year, according to the Ministry of Commerce.
The ministry said a key term for Lunar New Year holiday spending was “seeking higher quality” as the government’s em
phasis on upgrading consumption continues. Emerging areas for spending such as the internet, customized pr
oducts, experiences, digital products and services were growth areas during the holiday.