ments in areas such as education, health, climate change adaptation and sustainable infrastructure. The growth outlook in all major developed economies and most developin g regions has weakened due to a confluence of both domestic and external factors, the report said. Following an expansion of 3 percent in 2018, world gross product growth is now projected to moderat e to 2.7 percent in 2019 and 2.9 percent in 2020, reflecting a downward revision from the forecasts released in January. The report identifies several downside risks that could trigger a sharper or more prolonged growth slowdown, potentially infl icting significant damage on development progress. Those risksRead More →

 March 29 exit from the EU, May’s Conservatives suffered major losses in local election s this month and are trailing in opinion polls before May 23 European Parliament elections. With Labour and Brexit-supporting rebels in the Conservatives p lanning to vote against her deal, it is unlikely to be approved as things stand. Pro-Brexit Conservative lawmakers were unimpressed with May’s failure to set a firm date to quit. One, who declined to be na med, described it as “yet further procrastination which is causing appalling damage to the Conservative Party.” Another, Andrew Bridgen, said May was “an increasingly beleaguered and isolated prim e minister whoRead More →

 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 ToRead More →

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 helpRead More →

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 andRead More →

 right direction, and I’m encouraged by all of that,” said Jack Perkowski, a Wall S treet veteran and founder and managing partner of JFP Holdings in New York. Perkowski said that when combined with a perceived lack of legal enforc ement, the issue of protecting IPR has always been the single biggest hurdle for most companies from the United States when thinking about entering the China market. He said every aspect of doing business in China has gotten better in the past two decades in the view of international investors. Perkowski said IPR protection has emerged as a key issue. “China is deve loping economicallyRead More →

President lays out proposals to encourage foreign investment, guarantee fair competition The measures that President Xi Jinping recently proposed to encourage foreign investment and further opening-up in Ch ina 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 Over holt, senior research fellow at Harvard’s Kennedy School of Government, said of Xi’s keynote speech at the 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 acce ss for foreign investment in moreRead More →

 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.Read More →

More than 60 countries will send delegations to join multinational naval events marking the anniv ersary, and over 30 countries of them will send major navy leaders to participate, according to Qiu. Nearly 20 foreign vessels of various capabilities, including destroyers, frigates and landing ships, will join Chinese vessels in the naval parade, sh owing to the world the “firm determination to safeguard peace and seek development with joint efforts,” Qiu said. Organizing multinational naval parades is a unique ceremonial activity of navies, according to Qiu. The Chinese People’s Liberation Army Navy has been active in provi ding security products for the international community sinceRead More →

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 buildingRead More →