Balancing growth with structural reformting perform

After a disappointing performance in 2018, China’s economy appears to be stabiliz

ing. In the first quarter of 2019, GDP growth, at 6.4 percent year-on-year, matched that of the previous quarter. But grow

th in industrial production exceeded expectations, expanding by 6.5 percent year-on-year (and by 8.5 percent in Mar

ch). Even exports growth was positive, albeit weak, despite the ongoing trade frictions with the United States.

Moreover, fixed-asset investment (FAI) grew by 6.3 percent-0.2 percentage points higher than in the previous quar

ter. Investment in real estate grew the fastest (11.8 percent), followed by manufacturing (4.6 percent) and in

frastructure (4.4 percent). The growth of investment both in real estate and infrastru

cture was stronger not only sequentially, but also year-on-year. As usual, consumption growth was stable.

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hina, International Pavilion big expo drawsing distr

As landmarks of the International Horticultural Exhibition 2019 Beijing China, the China Pavilion and the Inter

national Pavilion are attracting large numbers of visitors thanks to their unique designs and functions.

Covering an area of 5 square kilometers, the expo is being held in the capital’s Yanqing district.

Following the ancient wisdom of the Chinese people, the China Pavilion takes the shape of a green b

uilding that can “breathe” and has “life”, as described on the exhibition’s official website.

Core portions of the pavilion are composed of terraced fields. Fun

ctions of both irrigation and insulation are at play, and th

e fields help reduce energy consumption of the building while also offering heating or cooling functions.

www.ixhhw.cn

On the basis of the four China-Japan political documen

s and in the spirit of seeing history as a mirror as well as facing the future, the two nations sho

uld continue to work toward the long-term, healthy and stable development of bilateral relations, he said.

As major economies in the world, China and Japan both support free trade and obey WTO rules, Li said.

He also welcomed Japanese businesses to expand investment in China

as the country will continue to unwaveringly deepen reform and expand opening-up.

China stands ready to move forward with talks with Japan and other rel

ated parties to further the negotiations regarding the Regional Comprehensive Econo

mic Partnership as well as the China-Japan-Republic of Korea Free Trade Agreement, he said.

Li also voiced China’s support for Japan’s hosting of the G20 Summit, which is slated this year

to be held in Osaka, and he hoped it would inject fresh impetus into global economic growth.

Kono expressed his appreciation for efforts made by the Chinese premier in helping return bilateral relations to the right track.

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As the central government started a new round of subsi

China and the European Union have committed to achieving major progress this year in negotiations for a high-level bilateral in

vestment agreement with a view to concluding the ambitious accord next year, according to a joint statement.

The two sides pledged to widen market access, eliminate discriminatory requireme

nts for foreign investors and establish a balanced investment protection framework, according to a joint statem

ent issued after the China-EU leaders’ meeting held in Brussels, Belgium, on Tuesday.

Premier Li Keqiang, European Council President Donald Tusk and Eur

opean Commission President Jean-Claude Juncker co-chaired the annual meeting and reach

ed consensus on a wide range of issues, including bilateral ties, global challenges and governance.

They committed to building an economic relationship based on openness, nondiscrim

ination and fair competition, ensuring a level playing field, transparency and mutual benefit, the statement added.

Two-way trade between the EU and China reached more than $682 billion last year. The E

U is China’s biggest trading partner, and China is the EU’s second-largest trading partner.

khlee.com.cn

But one of the first things taught to economics gradu

 students, even back in my day, is to be wary of the perils of data mining. And the middle-income tra

p is a classic example of the pitfalls of endless number crunching. Give me a database and a po

werful computer, and I can “validate” almost any economic relationship masquerading as an analytical co

njecture. There are five key reasons to dismiss the widespread diagnosis that China is ensnared in the middle-income trap.

First, a middle-income trap may not even exist. That is the conclusion of a rigorous empirical stud

y by Lant Pritchett and Lawrence Summers that covers a broad cross section of 125 economies from 1950 to 20

10. The best they could come up with is a strong tendency for growth discontinuities and mean reversion. At the recent China Development Forum in Be

ijing, Summers went further in assessing likely outcomes in rapidly growing developing economies, dubbing any

mean-reverting slowdown as merely a tendency to close a “post-miracle gap”. Needless to say, the statistical regularity of s

uch periodic growth gaps is very different from the permanent quagmire of a growth trap.

qw46q.cn

ao poses with a dog at her brick-and-mortar store in Chen

Zeng Niaoniao, a qipao designer in the post-95s generation, started her business when she was a sophomore in 2015, and now runs stores both online and off.

Last year, the turnover from her online store reached 12 million yuan ($1.78 million)

The 24-year-old designer has a track record on improving qipao, displaying her work at the 2018 Shan

g Fashion Week and attracting Chinese pop idol Yang Chaoyue to wear her design for an advertising photoshoot.

Zeng said her wish was to see people wearing her designs to stroll around town, and sh

e wanted to bring more improveqipao with new designs to young Chinese girls.

May’s offer to quit fails to break Britain’s Brexit stalemate

LONDON – British Prime Minister Theresa May failed to sway hardline opponents of her European Union divorce de

al on Wednesday with an offer to quit, but parliament’s bid to agree an alternative fell short, leaving the Brexit process as deadlocked as ever.

May told her Conservative lawmakers she would step down if her Brexit deal was finally passe

d by parliament at the third attempt, in a last-ditch bid to win over many of her party’s eurosceptic rebels.

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May has come under intense pressure to quit the prime minis

 minister’s post as the price of winning support for the deal.

At a meeting Sunday at the prime minister’s country retreat, Chequers,

prominent Brexiteers told May they might back the deal — if she agreed to step d

own so a new leader could take charge of the next phase of negotiations, which will

settle Britain’s future relations with the EU.

Former Foreign Secretary Boris Johnson, who attended the meeting and is likely to be a conten

der in any future Conservative leadership race, accused the government

of lacking “gumption” and chickening out on delivering Brexit.

Britaina’s best-selling newspaper, The Sun, put a call on its front page for the

prime minister to resign under the headline “Time’s up, Theresa.”

May is hanging on, hoping she can persuade Brexit-backing lawmakers that

rejecting her deal means Britain may never leave the EU.

She told lawmakers that Britain would not leave the EU without a deal unless

Parliament — which has already rejected the idea — voted for it.

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The city will also build 10 demonstration business street

breed 100 chain enterprises, and create 1,000 service outlets for residents this year, according to the project list.

Moreover, construction of the Beijing Daxing International Airport, subway lines 3, 12 a

nd 16 and interurban railways connecting Beijing and the Xiong’an New Area are also underway.

The ongoing national laboratory of cyberspace, Beijing Institute of Quantum Information Science, Science City in No

rtheast Beijing’s Huairou district will pull the city into the fast lane in science and technology.

“Investment contributes around 30 percent to the city’s eco

nomic development,” the director said, adding social capital, or capital raised by society rat

her than the government, has taken up over 90 percent of last year’s 334.6 billion construction investment.

“Social capital is welcomed at key projects investment t

his year as well, aimed at taking up at least 50 percent of projects and 70 percent of investment,” Tan said.

tsinghuagxbedu.cn

Modi’s visit to disputed region imperils thaw in ties

Recently, China and India were engaged in a jagged excha

nge of words over Modi’s visit to South Tibet, a mountainous region under substantial dispute b

etween the two Asian giants. Although China’s stance on the boundary issue is cons

istent and crystal-clear that it has never recognized the so-called “A

runachal Pradesh” and is firmly opposed to any Indian leaders’ presence there, it was Modi who has repeatedly touched the raw nerve.

Such exchange – though it has happened in the past during China’s Spring Festivals in February 2015 and February 2018 – is p

articularly noteworthy: Modi’s latest visit followed the in

formal leadership summit in Wuhan in April 2018 which was widely seen as the key effort

from both sides to improve diplomatic ties and rebuild trust since the 73-day-long armed standoff in Doklam.

Such actions by Modi would inevitably affect the progress

ade by both sides, further complicating the boundary issue and exacerbating mutual suspicion.

Modi’s recent presence in South Tibet was largely driven b

y electoral considerations, aimed at mobilizing support for Bharatiya Janata Party (BJP) ahe

ad of the general elections, which are due in India in April and May 2019 to constitute the 17th Lok Sabha.

shlfsm.com

When the dough has formed, dust your working surface with

h flour and dust your hands again. Transfer the mixture over and continue to knead it until its surface becomes smo

oth, this should take about 10 minutes. Let it rest. After about 4-5 hours, kneed it again. You’re ready to go!

How to roll the perfect dumpling wrapper?

Take the dough and roll it out into a long sausage shape. Using a knife, cut it into simi

lar sized pieces, roughly about 2 inches in length. Press each one into a rough circle.

The trick is never to let go of the wrapper while your rolling. It feels counter-int

uitive, but hold onto the top of the wrapper, use the rolling pin in an upward mot

ion towards the center. Move the dough around and keep rolling until you have a thin, circular wrapper.

Alternatively, you can pick pre-rolled wrappers from your local shop or Chinese supermarket.

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