Moreover, Washington has forbidden US companie

 to sell chips to ZTE, a Chinese multinational telecommunications equipment and

systems company, even after imposing huge fines on the company. By so doing, the US has act

ually encouraged China to increase investment in its high-tech sector. So, even if China and the US were to strike a de

al, China would be prompted to import lower volumes of energy and agricultural products from the US.

In macroeconomic terms, the China-US trade dispute has added h

uge uncertainties to the US economy and raised the likelihood of recession. Which cou

ld thwart the US president’s chances of being re-elected in 2020. And the trade dispute c

ould prevent the US from taking the measures it intends to in order to consolidate its national power.

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anqing and Zhangjiakou are preparing another venues, in

including existing ski resorts and some newly built projects, to host all eight Olympic snow sports

in 2022. The three clusters will be connected by a new high-speed railway, which will be completed by t

he end of this year. It looks beyond the Games to boost future winter sports tourism.

According to the organizing committee, all 26 venues for 2022 will be ready by June next year with the f

irst test event, a World Cup skiing series, scheduled to be held in Yanqing’s National Alpine Skiing Center in February.

About 90 percent of the earth moving work for the mountain center is now complete, and a 53-hecta

re forest reserve has been built nearby for transplantation of all the trees affected by the construction.

“The preparations are ready to step up to the next stage, from planning to

the readiness phase. Beijing is ahead in the race against time,” said Liu Yumin, dire

ctor of the planning, construction and sustainable development department of the 2022 Olympic Organizing Committee.

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They cited a report in February from Trade Partnership World

wide as saying that increasing tariffs on $200 billion of goods to 25 percent, coupled with tariffs already in place — as well as expect

ed Chinese retaliation — would reduce US employment by more than 934,000 jobs and push down the US GDP by 0.37 percent.

According to data from the General Administration of Customs, two-way trade between China and

the US declined 11.2 percent year-on-year to 1.1 trillion yuan ($162.5 billion) in the period from January to April.

The fact that Beijing is still sending a delegation to the US for the trade talks is “very wise on China’s part”, said Gary Hufb

auer, a senior fellow and trade expert at the Peterson Institute for International Economics in Washington.

Douglas H. Paal, vice-president of the Asia Program at the Carnegie Endowment for Internat

ional Peace, said it “makes sense to continue the talks because the alternative would be a drastic signal to markets”.

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China has exercised great restraint and goodwill in

trying to maintain stable relations with the US,” he said.

Li Haidong, a professor of US studies at China Foreign Affairs Universi

ty, said Washington has pushed a hard line in relations with Beijing in recent years.

“The Taiwan question is much more complicated and nonnegotiable,” Li said.

“If the US side continues to misinterpret the one-­China policy, it will irreparably damage Sino­-US ties,” he warned.

The US Senate will have to vote on the act before it can become law. The time of the vote is unknown.

“The consensus among US officials is to be tough on China, and room for rational option

s is rapidly shrinking as overconfidence and rash actions become the new norm,” he said.

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Core technologies to better drive digital shiftShijia and Hu

More efforts are needed to make breakthroughs in core technologies, advance infor

mation infrastructure construction and provide further impetus to the digital transformation of ind

ustries, said a senior official at the Second Digital China Summit, which opened in Fuzhou, Fujian province, on Monday.

Huang Kunming, a member of the Political Bureau of the Communist Party of China Central Committee and head of the Pu

blicity Department of the CPC Central Committee, called for more work to accelerate the research and de

velopment of 5G, as well as promote the building and application of the Beidou Navigation Satellite System.

Huang said achieving breakthroughs in core technologies should be the top pri

ority, with innovation fully pursued and intellectual property rights better protected.

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Those involved in the BRI will strengthen synerg

y in development plans and initiatives of various countries and international organizations and in

tensify bilateral and the third-party market cooperation to help more countries raise their level of connectivity, Xi said.

He added that participants agreed that Belt and Road forums are an important platform for multilateral co

operation and should be held on a regular basis.

President calls for countries’ joint efforts in building Belt, Road in forum speech

President Xi Jinping pledged on Friday to take strong measures such as easing market

access for foreign capital and increasing imports to promote the higher-level opening-up of the country.

While delivering the keynote speech at the opening ceremony of the

Second Belt and Road Forum for International Cooperation in Beijing, Xi said that the p

urpose of building the Belt and Road is to achieve win-win cooperation and common development.

China will increase imports of goods and services on a larger scale, and it will further lower its tariff rates, Xi said.

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He said that from a long-term perspective, populat

ion determines economic growth. Even though it will take some time, the large number of people i

n BRI-related economies will ultimately prove the potential for economic development in those countries.

Ma Yu, a researcher at the Chinese Academy of International Trade and Economic Cooperatio

n, said the BRI provides a new impetus for the recovery of the world economy. The improvement in infra

structure, and digital-related manufacturing brought by the BRI will restore the development capacity of the worl

d economy and bring new opportunities for the partnership between Chinese and local companies.

Also on Monday, the Office of the Leading Group for Promoting the Belt and Road Initiative

released an official report on the development, achievements and prospects of the BRI.

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Kim Jong-un supervises test of new tactical guided weapon

Kim Jong-un, top leader of the Democratic People’s Republic of Korea (DPRK) supervised the

test-fire of a new tactical guided weapon, state media Korean Central News Agency (KCNA) reported on Thursday.

Kim “supervised and guided a test-fire of a new-type tactical guided weapon cond

ucted by the Academy of Defense Science on Wednesday,” the KCNA reported.

The design indexes of the weapon, with advantages of “the p

eculiar mode of guiding flight and the load of a powerful warhead,” were “perfectly verified at the test-fire con

ducted in various modes of firing at different targets,” the report said, giving no details of the weapon.

“Tactical” implies a short distance weapon instead of a long-range ballistic missile in military battles.

According to the report, Kim described the development as “an event of v

ery weighty significance in increasing the combat power of the People’s Army,” sayi

ng that the scientists and workers have done a great work in increasing the country’s capabilities of

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Digital trade enabled up to 3.2 trillion yuan of econo

omic value in the domestic economy in 2017, equivalent to nearly 4 percent of China’s 82.08 trillio

n yuan GDP that year.This is significant, considering the economic value estimated for other Asia-Pacific economi

es ranges between 1 and 3 percent, said the Hinrich Foundation’s Director of Public Affairs and Strategy Berenice Voets.

The potential economic value of digital trade is expected to be the equivalent of 22 percent of China’s projected GDP in 2030, accor

ding to the report, outlining an optimistic outlook for digital trade development in China in the following years.

Li is scheduled to have talks with EU leaders, attend high-level meetings

Premier Li Keqiang touched down at Brussels Airport on Monday, beginning a five-day trip aimed at sending a clear signal to t

he world of the growing mutual trust and deepening strategic cooperation between China and European nations.

Li is in Belgium for the 21st China-EU Leaders’ Meeting. He will also make an official visit to Croatia and at

tend the eighth Leaders’ Meeting of China and Central and Eastern European Countries in the coastal city of Dubrovnik.

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The 142-km Jakarta-Bandung high-speed railway, connec

cting the Indonesian capital Jakarta with Bandung, is now under construction, after China and

Indonesia signed an agreement in October 2015 to establish a joint venture to build and operate it.

As a part of the Belt and Road Initiative projects in Indonesia, the high-speed railway is th

e first to use China’s high-speed railway standards, technologies and equipment on a foreign line.

It being constructed and operated by a China-Indonesia consortium of firms led by China Railway Corp an

d Indonesian state-owned PT Wijaya Karya Tbk, and is to be funded mainly by loans from China Development Bank.

The high-speed rail, the first of its kind in Southeast Asia, will have a maximum design speed

of 350 km/h and is capable of transport passengers and goods within 45 minutes between Jakarta and Bandung.

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