enter around both nations’ legitimate desires to protect some current l
ow-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, Ch
ina’s companies that export to the US also largely now employ less-skilled working-class people. However, neither the
US nor China can expect to keep, much less get back, low-wage, low-skilled manufacturing jobs.
Many people have the impression that Chinese goods are dominant in US markets. That is true only in a few highly compe
titive, low-profit sectors. According to US Commerce Department data, China has more than 50 percent of the US
market in such items as umbrellas, toys, prepared feathers, footwear, straw products, and bedding.
also visible in the quarterly financial results, including an accelerated transition to innovation-based growth.
According to Wind Info, sectors like communication, non-banking financials and co
mputers topped the earnings growth of all sectors of the A-share market in the first quarter.
“The communication sector registered a 310-percent growth in profits in
the first quarter, bolstered by the acceleration of 5G infrastructure construction and the rec
overy of industry giant ZTE Corp,” said Wang Yi, chief strategist at Shenzhen-based Great Wall Securities.
In the future, as large-scale commercial uses of 5G are poised to take
place, profitability of related companies will continue to see improvements, he said.
Listed companies have also stepped up innovation capabilities. In 2018, Sh
enzhen-listed companies increased their aggregate research and dev
elopment expenditure by 22.3 percent, with 11.4 percent of them having R&D expenditure in excess of 10 percent o
“Products that just scratch the surface, like simple tours of famous universities, have fallen out of favor with the market,” Zhang says.
Language training, NASA’s space camp, computer programming, homes
tays, wild animal care and desert and museum experiences are among the most popular options.
“Certain volunteering and public-welfare routes have seen a particularly fast increase in bookings,” Zhang says.
During the recent winter vacation in February, study-t
rip bookings surged by 80 percent compared with the same period of last year.
Domestic trips cost roughly 4,500 yuan ($663) per capita on ave
rage, while expenditures hit 21,000 yuan for outbound experiences, the agency reports.
Parents from Shanghai, Beijing and Guangdong province’s Guangz
hou and Shenzhen are the most willing to spend, according to Ctrip’s data.