unprecedented trade war: The US didn’t easily stop and China was not that fragile to be defeated. How

ever, it has proven no empty talk that in a long-term trade war, both sides would eventually lose.

President Xi and President Trump reached consensus on December 1 and put the two countries back onto the win-win track. Th

e consensus has responded to the situation, conformed with people’s wishes and reversed the pessimism of the market.

Starting December 2018, rounds of consultations resolved a large n

umber of divergences. The outcome has been sufficient to outline a new face of China-US econo

ic and trade cooperation and to bring an incalculable impetus to both sides’ economic development.

In the final phase of the talks, both sides must keep calm, treasure the already-made ach

ievements and promote smoother and fairer China-US trade cooperation.

US demand for China’s structural reform must stay in line with China-US trade coo

peration and coordinate with China’s reform and opening-up. The talks must not tr

y to force Beijing to change its economic governance or even its development path.

The final deal should attend to the interests of nongovernmental organizations that ultimately carry out economic and trade cooperation.

China and the US must sign an agreement that will inspire their peo

ple,  heralding accelerated economic development. Only such deals can withstand the test of history.

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For instance, Trump urged NATO members to increase defense expenditures, while the EU is seeking more strategic independence by devel

oping a European army. But with a slowly recovering economy, Central and Eastern European countries are unable to

cover defense expenses and are not as supportive of the EU’s common defense plan as previously expected.

Meanwhile, with France and Germany signing the Aachen Treaty, the two will engage in more in-d

epth cooperation. Considering the continuous threat allegedly posed by Russia and di

vergences within the EU over defense cooperation, the US can provide a security shield for the Central and Ea

stern European region, such as deploying more troops and upgrading equipment which would gain support fro

m regional countries. Currently, these countries are more prone to NATO as the supplier of public security goods.

Besides public security goods, the US also provides the region with institutions and regu

lations facilitating Western democratic freedom. Actually, the US has never stopped its democratic pervasion and assistance. For example, projects fu

nded by the National Endowment for Democracy have spread across Central and Eastern Europe.

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 assistance to the World Bank and quit the organization. The World Bank is a multilateral institution which was establ

ished under US leadership, and guided by the US Treasury Department. Its heads have traditionally been

appointed by the US government. The World Bank reflected US global strength and was a key instrument for

Washington’s global governance, and increasing its influence as a soft power. However, currently Washington seems to de

molish the structure it built itself by exiting international organizations that signal globalism.

Based on the experiences of the late 20th century, there are several drawbacks of globalism and globalization.

First, globalization enables strong nations to consolidate their d

ominance and lead the international order. It is an instrument that induces weaker states to ob

ey the will of the stronger ones. Globalism is keen on promoting universal values, taking the moral high gr

ound, blaming countries whose actions do not accord with universal values and even intervening militarily in some natio

ns. What does international intervention bring to global politics? It can be explained by hot button issues in Eurasia.

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litical and diplomatic means alone cannot support Japan’s global ambitions. A military presence at the global level is needed if Japan is to expand its political clout.

Compared with old European powers like the UK and France, Japan’s military influence in Europe is jerkwater. But it is different after Japan signed military pa

cts with these countries – Japan’s political influence is increasing because of the support of military powers.

With the influence of the UK and France declining in the Asia-Pacific region, their military activities can get

the support from Japan via the ACSA, which will immensely boost Japan’s military clout. These European countries will not look at Ja

pan through the military lens, which will effectively strengthen Japan’s political might.

Meanwhile, exchange of military provisions will help enhance people-to-people exchanges between Japan and these countries, ex

erting Japan‘s cultural influence in these countries and beyond. Even if Japan fails to become a permanent member of the UN Security Co

uncil, it can still play a major role in the world. This has been part of the global strategies of the Abe administration.

We can see that Japan signing ACSAs with six countries is not just for defense and military purposes, it’s part of an overall plan to influence economics, po

litics, military and culture, which is a long-term strategic mind-set of the Japanese government.

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The monetary authority has rolled out a series of policies in recent mont

hs to ensure adequate liquidity in the financial sector and accelerated loan issuance to co

mpanies. The measures include a new lending facility, called the targeted medium-term lending facility, which was in

troduced in December to encourage commercial banks to increase lending to small and private firms.

The central bank further cut the required reserve ratio for financial institutions by 1 percentage point in January and inj

ected another 800 billion yuan of capital into the market. That followed four reserve ratio cuts last year.

Supported by the liquidity, the average interest rate in financial mark

ets had already declined by January, which actually provided much cheaper funding t

o commercial banks and borrowers in the corporate sector, Sun said.

Accompanied by the credit boost, growth of the broad money sup

ply, or M2, accelerated in January to 8.4 percent from 8.1 percent at the end of December, t

he central bank said. Government bond issuance, meanwhile, has also picked up since the start of this year.

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of understanding on bilateral economic and trade issues, Xinhua reported. The two sides said they will step up their work

within the time limit for consultations set by both heads of state, and strive for consensus.

Vice-Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin headed the talks.

After tit-for-tat exchanges of hefty import tariffs, China and the US agreed in December to halt new ta

riffs for 90 days to allow for talks. Since then, the world’s two largest economies have conducted i

ntense negotiations on a wide array of topics, such as trade and structural issues.

Wei Jianguo, vice-president of the China Center for International Economic Ex

changes, said China and the US have maintained close contacts in recent m

onths, which reflects their positive desire to solve genuine problems and foster cooperation.

Wei, a former vice-minister of commerce, underlined the importance of conducting rule-based negotiations and seeking win-win solutions.

Diao Daming, associate professor at Renmin University of China’s School of International Studies, said the world’s two la

rgest economies can deliver positive results in future trade talks to allay global concerns.

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hina would like to address the problems of economic and trade frictions with the United States in a co

operative way to promote 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 Mn

uchin 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 current stage, a

nd the two negotiating teams will meet again in Washington next week for fur

ther 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.

Cooperation will bring benefits to the two countries while conflicts will injure both sides, he added.

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The country generated about 7.6ZB data last year, around 0.7ZB more than the US, the report said.

In addition, it said data created and replicated in China is expected to outpace the global average by 3 percent annually.

Chinese tech companies, such as Alibaba Group and Tencent Holdings Ltd, h

ave set an example in using data to improve customer service in the financial sector.

The report said Chinese digital payment platforms Alipay and WeChat Pay are able to provide personalize

d financial services tailored to customers’ specific behaviors and preferences with the help of massive user data.

The report also mentioned the use of personal information has raised concerns as data may be utilized to build beh

aving or responding models of users that can be taken advantage of by advertisers or for other purposes.

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It is encouraging that after the deputy-level meetings on Monday and Tuesday

to work out the technical details for an agr

eement — including a mechanism for enforcing any deal — the face-to-face discussions being conducted between d

ecision-makers from both countries are being held amid a general air of optimism.

The negotiations are being led by Chinese Vice-Premier Liu He and US Trade Representative Robert Lighthizer and US Treasury Secr

etary Steven Mnuchin, whose cordial discussions in Washington on Jan 30 and 31 raised hopes that the two s

ides are genuinely doing their utmost to reach an agreement ahead of the March 1 deadline when US tariffs on $

200 billion worth of imports from China are set to rise to 25 percent from 10 percent.

But there are still obstacles to be overcome, and no one should underestimate how daunting a task the two s

ides face trying to resolve all the differences that have long existed between them in one clean sweep.

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ral areas are at their lowest in February and March after discounting for the effects of winter’s cold snaps. Currently, a

bout one-fifth of the population aged 80 and above have moderate to severe disabilities and chronic illnesses, but it is als

o a fact that happier people cope better with illness and disability, regardless of age. Several studies in China clearly show tha

t a key factor in elderly people’s life satisfaction is spending quality time with their children and close friends.

It also wouldn’t be surprising if monthly births registrations in many villages and s

mall towns show a spike around November and December this year, as a re

sult of the coming together for an extended period of millions of spouses during the Spring Festival.

Furthermore, Chinese society places a high premium on marriage and childbearing with

in marriage for young adults, and Spring Festival is the peak time

for matchmaking in rural areas. So, we may expect this year’s holiday period to have yielded above average levels of suc

cessful matchmaking of future spouses by pro-active parents. This social function of the festival should not be o

verlooked, especially with the persistently rising age of people getting married for the first time in China.

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