Its use of state power to throttle the development of a fore

foreign company not only jeopardizes fairness and justice in world trade, it

also poses a tangible threat to the security of 5G networks.

As Huawei said in a statement, “If the US restricts Huawei, it will not make the US safer, nor will

it make the US stronger. It will only force the US to use inferior and expensive alternative equipment.”

Inferior equipment that might be exploited by criminals and terrorists.

That the order is politically motivated rather than for security purposes can be seen from the fact that i

t is merely the latest in a series of moves by Washington targeting Huawei-one of which was particularly despicable.

It has also tried to rally its allies to its cause, most recently at a conference in Prague on May 2-3. But i

t has been unable to persuade them that it is not simply being malicious in pursuit of putting America first.

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The document said such practices have adversely affect

ted the interests of WTO members, especially developing-nation members, and undermined the

authority and efficacy of the WTO. As a consequence, the organization is facing an unprecedented crisis.

China suggested necessary reforms of the WTO be made so as to overcome the crisis, strengthen its auth

ority and efficacy, and enlarge its relevance in terms of global economic governance. It also

proposed strengthening the inclusiveness of the multilateral trading system, said an official with the De

partment of WTO Affairs at the Ministry of Commerce, in an online statement late on Tuesday.

The unnamed official stressed the need to resolve several urgent issues threatening the existence of free trade and globalization.

Even though China didn’t mention the United States by name in the proposal, it refe

rred to a number of policies clearly associated with Washington. Experts stressed tha

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Online English education sector records 168% growth but ch

nline English-language courses for children saw an explosive growth in 20

18, according to a report released by data-monitoring firm Trustdata on Tuesday.

The report on China’s online English education market for children s

hows that the market had more than 15 million users last year, up 168.3 percent year-on-ye

ar. It’s expected that the market size would surpass 50 billion yuan ($7.3 billion) in 2019.

The market pattern of one-on-one teaching has been gradually for

med and the top brands have secured the lion’s share of the market, as per the report.

Market size doubles in one year

The market size of online English-language education for childre

n was 21.3 billion yuan in 2018, an increase of 104 percent year-on-year, with one-on-one teaching taking

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The reform and opening-up policies are exactly the kin

ds of market-driven reforms needed to make this happen. The Chinese government is investing heavily in research

and development, but it should be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

Nobody likes competition against themselves. So, it must be admitted that China’s transiti

on to a high-tech, high-value-added economy will come as a shock to many companies around the world.

The US economy, which has about 7 percent of GDP in high-tech manufacturing, will be lightly affected by this change.

On the other hand, advanced manufacturing contributes around 20 percent of GDP in South Korea, Japan, Ge

rmany and a few smaller European countries. They will be much more directly affected.

China’s transition over the next 10 years will not be painless for its compa

nies or for foreign competitors. But, reform and opening-up policies that create more com

petitive companies and markets are the only way to achieve a richer and more productive world economy in the long term.

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China has also recently announced a strengthened reg

gime of intellectual property rights protection. Again, this is what foreign negotiat

ors are seeking, but also is important for China’s own economy as it transitions to being a technology leader.

Trade agreements can affect the types of goods being traded and they can redirect trade toward one c

ountry, away from others. They cannot directly affect any country’s worldwide current account bal

ance. A country 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 gov

ernment system to encourage increased savings. China has almost nothing to do with it.

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ronically, the disputes between the US and China ce

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.

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US soy farmers call for cool-down of trade tensions

US soy farmers have urged Washington to work for a positive solution to the current tarif

f dispute with the world’s top oilseed buyer China, and avoid further escalation of trade tensions.

In a statement released late Tuesday, the American Soybean Association (ASA) described the t

hreat by US President Donald Trump’s administration to increase the tariff rate from 10 percent to 25 p

ercent on $200 billion worth of Chinese goods as the “worst case” for US soybean growers.

“This is a predicament for soy growers,” said Davie Stephens, ASA president and a soybean farmer from Kentucky.

“With depressed (soybean) prices and unsold stocks fo

recast to double before the 2019 harvest begins in September, we nee

d the China market reopened to US soybean exports within weeks, not months or longer,” he added.

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Other signs of a more vigorous Chinese economy wer

 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

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r kids’ footprints have been left on hundreds of desti

“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.

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Our program features opportunities for students to exp

xperience what is it like in real satellite development projects,” Cui said.

“We will ask the students to set up a project team to simulate research and development of an imaginary satellite, and e

ach of them will be designated a role ranging from chief designer to subsystem manager,” Cui added.

“We also offer opportunities to the students to visit satellite research-related institu

tes and satellite users to see satellites’ assembly, testing and experiments,” Cui said.

“They will be able to get personal understanding of spacecraft research and development and obtain some know-how.”

He said space training providers in other countries will not take foreign students to design or production sites.

Cui said most of the lecturers in the program are senior researchers and chief desi

gners at Chinese space institutes and provide the foreign students with the latest expertise.

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