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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ctural reform and consolidate outcomes in its efforts to cut overcapac

ity, reduce excess inventory, deleverage entities and lower costs, the statement said.

More efforts will also be made to strengthen the dynamics of micro-entities, im

prove industry chains and ensure unimpeded flow of goods and services in the national economy.

The meeting also pledged major new outcomes through enhanced reform and opening-up.

More work will be done to seize new opportunities, improve scientific

and technological innovation capacity and speed up green development, said the st

atement, which also stressed the need for the country to take part in the reform of the global economic governance system.

It is also important to resolutely guard against the practice of forma

lities for formalities’ sake and excessive bureaucracy, as well as prevent fraud to ens

ure implementation of requirements set in the Central Economic Work Conference.

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hinese sales of passenger vehicles, MPVs, SUVs and minivans in March dropped 12 percent on a yearly basis to 1.78 million units.

This is the 10th consecutive monthly decrease, according to the C

hina Passenger Car Association (CPCA), Changjiang Times reported.

The MPV sector saw the largest sales decline, 20.2 percent to 130,000 units in the pas

t month, while SUVs and sedans dropped 10.7 and 12 percent, respectively.

The decreases in 2019’s first quarter are mild compared with those at the end of the last year, CPCA said.

As the State-VI emission standards will be implemented from July 1 this

year, some Japanese brands have launched corresponding products ahead of their co

unterparts, and performed well in sales and consumer confidence, CPCA said.

“Automobile sales in North China, and those in the county and township level, are still weak,” the association added.

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nt of a comprehensive social security system in record time. Having set up the foundation,

it can now focus on targeted improvements. For example, in 2017, China provided special funds for pre-preg

nancy and other medical checkups for women, benefiting 12 million women, or 91.7 percent of the target group.

The country’s modernization could not have occurred without the people increasing their capabilities. Beyond general educ

ation for the population, the government has increased the knowledge and experience of officials to be at the fore

front of solving problems. Specialist schools and academies have been set up in multiple fields, including a national soci

al security school in Beijing to build the capacity of social security officers across the nation.

It is the totality of the Chinese experience over the past four decades, in rebuilding the

country in so many ways, that has become an inspiration for other countries. C

hina has been a diligent student learning from others. Today, it also has many experiences to share with the world.

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point in its economic development are far more important than whether its slowdown is

a gap or a trap. What comes after the catch-up to advanced economies operating on the technological frontier? This

is where China’s stated goal of shifting from imported to indigenous innovation comes in. Middle-versus high-inco

me status is a relative comparison for developing economies seeking to operate on that frontier. Notwithstanding the

temporary effects of periodic exogenous disturbances-such as deleveraging, global slowdowns, or even trad

e wars-catching up to the frontier and joining others pushing to move beyond it is the ultimate reward of economic development. That goal is ensh

rined in President Xi Jinping’s aspiration for China to achieve high-income status by 2050.

And fifth, productivity growth is far more important than GDP gro

wth in determining a country’s development prospects. As such, I would be far more wor

ried about China falling into a productivity trap than a GDP growth trap. A new study on total factor prod

uctivity (TFP) by a team of Chinese researchers offers some comfort here. Like the work of Pritchett and Summers, thi

s latest assessment of Chinese TFP growth reveals several discontinuities over the past 40 years.

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Apple Inc on Friday said it is canceling the AirPower wireless charging mat that

the company announced in 2017 on t

he same day as its iPhone X, a rare public retreat for the gadget maker known for splashy product launches.

The mat was intended to wirelessly charge up to three Apple products at

once, such as an iPhone, Apple Watch and AirPods wireless headphones.

While wireless charging has spread through the gadget industry, chargi

ng three devices at once with higher wattage “fast charging” has proved challengi

ng. Furniture seller Ikea, for example, sells a $60 matt that can handle three

phones but it only features slower 5-watt charging.

In a statement, Apple said that it had concluded that its AirPower mat “will

not achieve our high standards.”

“We apologize to those customers who were looking forward to this launch,”

Dan Riccio, Apple’s senior vice president of Hardware Engin

eering, said in the statement. “We continue to believe that the future is

wireless and are committed to push the wireless experience forward.”

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of them are relatives, so the close ties between them are not broken by national borders. What th

e school has been doing is to further strengthen the special bond between the two peoples,” he said.

The school has preschool classes and first through third grades and all classes are taught in Chinese, Dai dialect and Burm

ese, Sun said, adding that students can take advantage of free tuition and nutritious breakfasts.

Jie En, 11, a Myanmar student at the school, said, “The teachers do not

treat us differently because we come from a different country, and people cannot tell wh

ether we are from China or Myanmar because we can also speak fluent Chinese.”

Myanmar students only need to show proof of identification and a b

irth certificate to register at the school and are allowed four entries into China a day, he said.

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China will implement a group of measures to cut value-added ta

x rates, ensuring that the tax burden on all industries will only go down, according to a

decision made by the State Council’s executive meeting presided over by Premier Li Keqiang on Wednesday.

The Government Work Report this year set out a plan for l

arger tax cuts, including lowering the VAT rate in manufacturing and other industries from 16 t

o 13 percent and the VAT rate in transportation, construction and other industries from 10 to 9 percent.

A number of concrete measures were decided upon at the

Wednesday meeting to achieve the targets, which will be enacted on April 1.

Input VAT eligible for deduction will be expanded and will cove

r passenger transportation services. Taxpayers will be able to get their input tax on real esta

te payments deducted in full on a one-time basis, instead of on two occasions in two years.

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An off-duty pilot in the cockpit of a Boeing 737 Max 8 jet jumped in to help

crew disable a malfu

nctioning flight-control system as it experienced difficulties in October, according to Bloomberg.

The next day, with a different crew, the same plane crashed into the sea off Jakarta, killing all 189 people on board.

On doomed Lion Air Flight 610, pilots searched in a handbook f

or a way to stop the plane from nosediving, according to an exclusive Reuters report.

Reuters cites the information from three people with knowledge of the contents of the cockpit voice recorder that has never been made public.

Indonesia’s National Transportation Safety Committee (KNKT) has refused to comment to CNN on the content of the voice r

ecorder as the investigation is still ongoing. Boeing also refused to comment to CNN on the matter Wednesday.

Indonesian authorities found the cockpit voice recorder in the Java Sea on January 14 and said it could take up to a year to publish a full report into the crash.

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mote the reform and opening-up. There are many things in the pipeline for foreign direct i

nvestment. The government plans to allow many companies in different kinds of sectors. In this

upcoming session, the new law regarding foreign direct investment will be discussed. I believe more Sudanese co

mpanies will be allowed to come to China and more Chinese companies will go to Sudan.

I noticed many important things mentioned in today’s report. It talk

s about employment, the protection of the environment, the opening-up of the Chin

ese economy and external trade, which are very impressive. As an ambassador, I wish success to the Chin

ese government in the coming year and I’d like to see more Chinese investors invest in Tunisia.

When it comes to the opening-up of the financial sector, the bond mark

et, the development of multi-tier capital market, the continued emphasis on controlling lev

erage, I think those are some of the issues that we are very interested in. And we are going to study the report.

We haven’t seen the final version of the Foreign Investment Law yet. We

will look at it. But further opening up, especially related to service sector, is very imp

ortant. I think it will bring big benefits for China and big benefits to all the countries in the world.

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