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

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We should extract the essence of Chinese traditional cult

ulture, which has contemporary value and relevance to the modern world, and show it. In this way we can on the one hand

tell the world how and why China is what it is, and on the other have Chinese and other civilizations create benefits for mankind.

It is hoped that the Conference on Dialogue of A

he measures that President Xi Jinping recently proposed to encourage foreign investment and further

opening-up in China are welcome developments that address the international community’s concerns, according to experts.

“The promises made are very positive, and all of them are helpful,” William Overholt, senior

research fellow at Harvard’s Kennedy School of Government, said of Xi’s keynote speech at t

he opening of the Second Belt and Road Forum for International Cooperation in Beijing.

Xi brought up a series of reform and opening-up measures, including expanding market access for foreign invest

ment in more areas and working harder to ensure the implementation of opening-up policies.

sian Civilizations will make fresh contributions to the construction of the community of shared future for mankind.

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In early April, the US increased military interactions

with the island by officially acknowledging that military personnel have been posted in the Taipei office of the American Institute in Taiwan since 2005.

US weapons manufacturer Raytheon was also granted a $9 million contract to upgrade Taiwan’s Patriot missile defense system.

Senior Colonel Liang Fang, a professor at PLA National Defense Universit

y, said the recent drill will test and enhance the PLA’s joint operating capabilities.

“It will increase the PLA’s ability to protect national sovereignty, and warn thos

e who are trying to undermine it to abandon their illusions,” she said. “Similar drills

will be more common in the future, with increasingly sophisticated equipment and training methods.”

Xiu Chunping, a researcher at the Chinese Academy of Social

Sciences’ Institute of Taiwan Studies, said the recent drill serves to warn the US and separati

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The school established an AI research institute in Decem

ber 2017 for graduate students. Many instructors at the school are working on AI-related res

earch so there will be no problem finding capable teachers for the new students, Lin said.

China’s booming AI industry has resulted in a growing demand for tal

ent. It is common for students in AI-related fields to have

already committed to companies before they even graduate and enter the job market, he said.

Master’s graduates majoring in AI can easily find jobs with salaries over 300,000 y

uan ($44,700) per year, and salaries for doctoral graduates are even higher, he said.

Chinese universities are catching up with their counterparts in the United

States in terms of basic research in AI and the numbe

r of published papers, yet they still lag behind in transforming research into application, he added.

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Thanks to the extension of the subsidiary policy of new e

energy vehicles (NEV), sales of NEVs reached 111,000 in March, up 100.9 percent year-o

n-year, with NEV wholesales accounting for 254,000 units in the first quarter.

CPCA predicts a 40 percent increase in NEV sales to 1.7 million

units in 2019, based on these first quarter figures.

As China began to cut manufacturing sector VAT from 16 to 13 percent on April 1, som

e imported and high-end vehicle brands lowered prices to boost sales nationwide.

As the industrial chain of domestic-made goods are comparatively longer than that of imports howe

ver, most domestic manufacturers have not lowered prices for goods, including automobiles.

“Consumers should not expect too much on price cuts of automo

biles, but choose vehicles based on demand and affordability,” CPCA said.

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May asks for Brexit extension to June 30; EU could of

British Prime Minister Theresa May wrote to Brussels on Friday asking for a delay of Brexit until up to June 30, while saying she

aims to get Britain out of the EU earlier to avoid it participating in European elections.

But Donald Tusk, who chairs EU summits, has proposed a longer Brexit postpone

ment of one year for Britain‘s feuding politicians to agree and ratify a plan, EU officials said.

Any such extension would still require unanimous approval of the other 27 EU countrie

s and some, notably France, suggested they wanted a better justification from London for its request.

Britain is now due to leave the EU in a week, but May has been forced to seek mo

re time after Britain’s parliament repeatedly rejected her withdrawal agreement.

Her Conservative Party is deeply divided, as is the main opposition Labou

r Party, leading to a bewildering marathon of inconclusive votes in parliament that stretch

ed Britain’s centuries-old unwritten constitution to its limits. Scenarios running the gamut from aba

ndoning the EU abruptly with no deal to cancelling Brexit altogether have all gone down to defeat.

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Instead of solely emphasizing high yields, the Green Su

 Super Rice project is geared to guarantee stable yields while beefing up crops’ resistance against drought, flooding and diseases,” Li said.

“Thus, farmers are able to save a large amount of resources, such as fertilizers or irrigation water, to fight those issues,” he added.

The sustainability of the approach is welcomed by Philippine agricultural researchers and farmers, according to Jose

Yorobe, a consultant with the International Rice Research Institute in the Philippines. He attended a meeting in Beij

ing on Tuesday, along with dozens of representatives from participant countries, that marked the project’s conclusion.

“Because of climate change and population growth, developing countries are now pressured to increase rice prod

uctivity,” he said. “Some high-yield modern varieties are still vulnerable to inclement weather, pests and disease.”

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be slashed to 13 percent; the rate in the transportation

 construction, and other industries will be lowered from 10 to 9 percent, while the lowest bracket rate will remain unchanged at 6 percent.

In order to reduce tax burdens for all industries, the government also adopted supporting

measures, such as increased tax deductions for producer and consumer services.

Gao Peiyong, vice-president of the Chinese Academy of Social Sciences, told China Securities Journal that VAT reduction

will trigger a domino effect through deduction mechanism, ultimately benefiting economic and social development.

The first day of rate reduction saw industries involved in oil,

electricity, natural gas, iPhones and automobiles all cutting their price.

According to data compiled by Chinanews, the maximum retail prices of gasoline and diesel fell 225 ($33.49) and 200 yuan

per ton, respectively; railway sector dropped or canceled some freight fees, expecting to give up 6 billion yuan to enterprises.

Prices for iPhone XS and iPhone XS Max declined as much as 500 yuan,

and iPhone XR, iPhone 8 and iPhone 7 also had their price fall by 300 yuan.

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In the Government Work Report, Li said that the govern

ment’s moves to cut taxes on this occasion aim at an accommo

dative effect to strengthen the basis for sustained growth while also considering the need to ens

ure fiscal sustainability. It is also a major measure to lighten the burden on businesses and boost market dynamism.

Participants at Wednesday’s meeting also decided on adjustments to the export tax rebate rates of certain goods and services and

to the tax deduction rate of purchases of farm produce. They decided to increase transfer payments to local gov

ernments, focusing on supporting the central and western regions and counties and prefectures experiencing difficulties.

“The share that goes to enterprises in the national income distribution ne

eds to be increased to boost market vitality. This will

help keep employment stable, expand tax sources and make public finance sustainable.” Li said.

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Then Trump claimed — wrongly — that the EU was unwillin

  g to “negotiate with the Obama administration” about trade. In fact, the prev

ious administration sought to conclude a Transatlantic Trade and Investm

ent Partnership — or TTIP — with Europe, though was unable to get the deal across the line. Trump’s own talks on t

rade with Europe have been inconclusive, after he threatened to spark a trade war.

  Trump vs. his global counterparts

  Trump’s comments on Brexit also illustrated the tendency of a Pre

sident who admires dictators to throw allied leaders under the bus.

  He criticized Prime Minister Theresa May, whose credibility has been shredded by parliamentary defeats.

  ”She didn’t listen to that and that’s fine, I mean, she’s got to do what she’s got to do,” said Trump, who was forced into

a rare apology last year after hammering May’s Brexit strategy on the eve of meeting her in the UK.

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