As globalization goes deeper, economic and trade ties between China and most other countries in the world have seen rapid growth. In this new era of high interconnectivity and win-win cooperation, China has learned from the development experience of countries worldwide with a humble attitude and honest diligence to form its unique “socialism with Chinese characteristics” development model. In this process, China borrowed experience from the world's most developed countries and set foot on a development path that was suited to its own situation. This model has powered the economic take-off and soaring growth of China.
The recent arrest in Canada of Huawei CFO Meng Wanzhou has brought uncertainty to the negotiations during the current China-US trade truce.
Forty years of reform and opening-up have changed the destiny of the Chinese people, as well as the world. It is a great economic, social and political development with historical significance.
Every time there is economic difficulty, new ideas arise to drive reform and opening-up. If China can take the 40th anniversary of reform and opening-up as an opportunity to launch a new round of ideological emancipation, another round of reform and opening-up will occur, spurring new economic growth.
A McKinsey report titled China's Choice: Capturing the $5 Trillion Productivity Opportunity resurfaced recently. According to its calculations, China's financial sector generated more than 80 percent of the country's total economic profits in 2015. It is not healthy to see economic profits highly concentrated in the financial sector, which is to the detriment of economic development.
Relations between China and the US are tense at the moment, but both sides can benefit from reflection and restraint. A spirit of constructive internationalism must prevail.
The US' harsh tariff measures reflect its deeply flawed national security strategy. President Donald Trump's administration has made it clear that Washington perceives China as a rival that seeks to revise the post-World War II liberal international system. This is also the consensus view in Congress.
Without any solid evidence, the Canadian and US governments trampled on international law by basically “kidnapping” Chinese citizen Meng Wanzhou, the chief financial officer of Huawei.
The trade truce struck by China and the US over the weekend has temporarily prevented the two countries from heading toward a new cold war. Multiple results were achieved in such fields as trade, international politics and security.
The US stock market plunged on Tuesday, sending the Dow Jones Industrial Average down 799.36 points. The group of technology stocks known informally as FAANG (Facebook, Apple, Amazon, Netflix and Google) shed more than $140 billion in market value by the end of the trading Tuesday.
Since mid-2018, China's once red-hot real estate market has shown signs of cooling off. The usually busy and well-paid property agents are complaining that business is drying up, with some reducing staff and closing underperforming outlets.
China has provided support to Argentina in overhauling its Belgrano Cargas Freight Railway, a transportation artery stretching across the South American country. Some Western observers call China's investment in developing and less developed countries “debt-trap diplomacy,” which works in theory by offering cheap infrastructure loans and then taking over strategic assets if countries default on their debt payments. China is becoming more involved in infrastructure projects in South America, and the US has expressed rising concern over the risk of debt traps. To gain insights into the situation, Global Times (GT) reporters Hu Weijia and Bai Yunyi talked to Yin Zhixin (Yin), general manager of the project by China Machinery Engineering Corporation (CMEC) to help revamp Argentina's Belgrano Cargas Freight Railway.
Outside the hotel where Chinese President Xi Jinping and his US counterpart Donald Trump met Saturday night in Buenos Aires, Argentina, many people on the street halted with an expression of curiosity. Everyone was trying to guess what kind of deal can be made between China and the US.
The upcoming meeting between the two leaders of China and the US during the G20 summit in Argentina will be watched closely by the world in the coming days. During the past six months, the US government has launched protectionist trade measures against many countries and economies, including China, putting the global economy under growing pressure. It remains to be seen whether the G20 summit will ease this situation.
Given the aftereffects of China's past large-scale stimulus plans, an important goal of the central authorities in setting monetary policy is not to flood the market with liquidity again.
Pressure and challenges from the IMF regarding debt woes over the China-Pakistan Economic Corridor (CPEC) won't compromise Pakistan's commitment to the CPEC.
After racist messages from Stefano Gabbana, one of the designers of Dolce & Gabbana (D&G), triggered outrage on China's social media, the Italian fashion brand issued its first statement claiming that its Instagram accounts had been hacked.
With the escalating China-US trade conflict, much attention is being paid to the upcoming bilateral meeting during the G20 summit, which is expected to yield certain agreements to ease the dispute.
The Chinese economy is facing a complicated situation that hasn't been seen in many years, given the major adjustments to the international trade and investment order, the ongoing China-US trade war, low confidence among China's private enterprises, and the weak outlook of the domestic economy.