akes less than $9 from each iPhone. The total price of a phone is ridiculously counted as a Chinese export to the US.

It’s a good thing that China is no longer a low-wage country. Most Chinese are much better off than they were even 10 ye

ars ago. But it does mean that these low-skilled, labor-intensive industries will be moving to less-developed nations. US t

ariffs on such products will only serve to hasten the transition to higher value-added industries that China has to make anyway.

Roughly 20 years ago, when China’s admission to the World Trade Organiz

ation was being negotiated, China’s economy was tiny as a portion of world GDP. It was clearly a poor, less-deve

loped country that, except in a few areas, was not able to compete with Western companies in high-value-added products.

As Alexander Hamilton, the first US Treasury secretary, argued, a dev

eloping country may need to protect its “infant industries” from already established foreign

aishedesaf.com

 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

To be sure, there are various estimates of China’s potential growth rate, ranging from 5 perc

ent to 8 percent. But it is difficult to determine which is reliable. For one thing, there is reason to believe that

most estimates fail to discount cyclical factors adequately when calculating the long-term trend.

www.koryoung.com.cn

te exchanges among civilizations and dialogues based on harmony in

diversity and inclusiveness. We need to undertake the cultural responsibility of int

ernational communicators, and let exchanges of culture and among civilizations, as well as mutual learning, con

stantly serve as bridges for people’s friendship, the impetus of international cooperation and bond of world peace.

Second, we should become builders of world peace and development. The wheel of humanities’ development is uns

toppable. Peace, reconciliation and harmony are historical trends. Equality, mutual trust and win-win cooperation are hi

storical necessities. Yet, as international conventions are attacked and multilateral mechanisms are cha

llenged, the anti-globalization tendency rises, and unilateralism and trade protectionis

qw46q.cn

Country may soon adopt revision to pave way for capital market reform

The top legislature deliberated on the draft revision of the Securities Law over the weeke

nd, signaling China may soon adopt the revision to pave the way for key capital market reforms, experts said.

On Saturday, the draft revision was submitted to a bimonthly s

ession of the Standing Committee of the National People’s Congress for a third reading, Xinh

ua News Agency reported. The session began on Saturday and continues through Tuesday.

Revision of the fundamental law governing the capital market h

as lasted for six years, with 2015 and 2017 having seen readings of two draft versions.

“The latest draft version is of great importance because it will provide legal grounds for the registration-based initial pub

lic offering system-a key reform that China’s capital market has been awaiting for years,” said Dong Dengxin, director of th

e Finance and Securities Institute at Wuhan University of Science and Technology.

xzzygk.com

 International Cooperation two years ago, more countries and inter

national organizations have joined in the construction of the Belt and Road.

So far, 125 countries and 29 international organiz

ations have signed BRI cooperation documents with China, according to Lu.

Among them are 16 Central and Eastern European countries and Gr

eece. Italy and Luxembourg signed cooperation agreements with China last month to join

tly build the Belt and Road. Jamaica also signed similar agreements on Thursday.

During Premier Li Keqiang’s European visit last week, both sides agreed to seek greate

r synergy between the BRI and the European Union’s strategy for connecting with Asia.

Yang Jiechi, director of the Office of the Foreign Affairs Commission of the Comm

unist Party of China Central Committee, said last month that representatives of more than 100 coun

tries, including about 40 foreign leaders, have confirmed their attendance at the Beijing forum.

www.renrencanzheng.org

k hole image, two earlier detections of gravitational waves from

black hole mergers also were products of international collaboration.

In February 2016, the Laser Interferometer Gravitational-Wave Observatory in the United States announ

ced the first observation of gravitational waves generated by a black hole merger. The following June, it annou

nced the second detection of a gravitational wave event from colliding black holes.

Wu said Tianqin has potential for even greater discoveries.

“LIGO used interferometers on the ground with an arm length of 4 km. But with satellites, the arm length will increas

e to 170,000 km. So the space-based probes (enabled by Tianqin) will be able to detect gravitational waves at much l

ower frequencies generated by the merging of massive or supermassive black holes,” he said.

“It will also enable us to see the smaller black holes during the infancy of the universe, as w

ell as understand the history of black hole growth and the evolution of galaxies,” he said

www.cn-yongan.com

globally — not for China only, Asian Infrastructure Investment Bank President Jin Liqun said on Wednesday.

Jin made the remarks in response to questions over whether the BRI only involves C

hinese projects prior to the Boao Forum for Asia, which will officially begin on Thursday.

“It was a misunderstanding,” Jin said, adding any country or investor can do a BRI project

anywhere, so long as it promotes global and regional economic cooperation, peace and development.

“The so called ‘China strategy’ is simply to promote global cooperation,” he added.

Joint efforts essential to fight global warming: China Daily editorial

Record low temperatures in winter and record high temperatures in summer in many parts of the

world year after year and more frequent natural disasters caused by extreme weather events prov

ide strong evidence that global warming is not just an alarmist theory as some claim.

Yet striking a balance between the effective control of human activities that are contr

ibuting to climate change and economic growth is proving a hard nut for countries to crack.

shlftv.com

 such an attitude. Any nation with very strong and rapid growth is always in a very difficu

lt position in public opinion because we are afraid about the strength of others,” he said.

“For example, we were afraid of cultural pressure from the United States in the 1960s, and 20 ye

ars later, we had the same feelings against Japan with its technological projects. Now, China is bac

k around the table of big nations. I think we have to accept that and not be afraid, but to discuss.”

Raffarin said the two countries are expected to close contracts and announce new projects. He also

said the dialogue between France and China could be very useful in forming a new vision for multilateralism in a changing world.

In addition to strong existing collaboration between France and China, including in the automotive, aviation and healthcare sectors, Raffarin said the most

important thing for the future of Sino-French relations is to identify third-country projects, such as the Hinkley Point C nu

clear power plant in the United Kingdom, which is jointly financed by China and France, as well as opportunities in Africa.

qianpadag.com

were not aware of the details in the Bloomberg report. CNN continues to reach out to more officials at the KNKT.

Investigators said the jet experienced problems on its last four flights — including, crucially, the flight that crashed, according to Tjahjono.

Indonesian authorities confirmed that the plane’s angle of attack (AOA) s

ensor was replaced after a flight from Manado, in North Sulawesi to Denpasar, Bali on Oct

ober 28. The Boeing 737 Max 8 then made another flight to Jakarta that same day, and the pilots reported further problems.

The AOA sensors send information to the plane’s computers about the angle of the plane’s nose rel

ative to the airflow over and under the wings to help determine whether the plane is about to stall.

Software installed on Boeing’s 737 Max 8 planes, called the Maneuveri

ng Characteristics Augmentation System (MCAS), automatically lowers the nose of the pla

ne when it receives information from the AOA sensors that the aircraft is flying too slowly or steeply, and at risk of stalling.

www.hnxkmh.com

  An accident at a coal mine in Inner Mongolia that claimed 21 lives and injured 29 was c

aused by a brake glitch that forced a vehicle to go out of control and hit a ramp, according to local authorities.

  The accident occurred at about 8:20 am on Saturday at a mining company in North

China’s Inner Mongolia autonomous region, when a vehicle was transporting 50 workers to the mine.

  The cause of the accident is under investigation. All 29 injured were rushed to hospital and were in stable condition.

  Fu Jianhua, vice-minister of emergency management, arrived at Inner Mongolia

at 22:00 pm on Saturday with a team to supervise the rescue and investigation work.

  An emergency center which included four working teams for medical service, security and safety was set up.

qiancengdian.cn