ss to US suppliers “will do significant economic harm to the US companies” and affect “tens of thousands of US jobs”. In total, US firm s sold an estimated $11 billion worth of components to Huawei last year, according to earlier media reports. “I’m not able to tell you exactly what the costs will be; it differs from company to company,” said Allen. “But clearly, from a corporate perspective, this Department of Commerce action has created costs and has escalated the uncertainty quite a bit.” Asked to comment on some voices in the US calling for the “decoupling” of the two countries, especially in theRead More →

onomy is accelerating restructuring reform and shifting from an export-dominated growth model to a more services-driven model, they added. “The United States escalated trade tensions, but it cannot solve any problem. This causes volatility and sluggishness in global financial markets an d hurts the global economy,” said Guo Shuqing, the People’s Bank of China’s Party secretary and also head of the China Banking and In surance Regulatory Commission. His keynote speech was delivered by a commission spokesman at a forum on Saturday. Impact on the Chinese economy will be very limited, said Guo. “Chinese fi nancial markets, although they were excessively affected by trade tensionsRead More →

working at the State Department to make sure that everyone understands the risks.” “Recently, some US politicians have repeatedly made rumors about Huawei but canno t provide any evidence that other countries have requested,” Lu told a daily news conference. He noted that the US public is having more and more doubts over the market turbulen ce and undermined industrial cooperation caused by the trade war and technology war initiated by the US. “So some US politicians have continually created rumors, tr ying to mislead the public and stir up ideological opposition, which is illogical,” Lu said. Ideological differences do not necessarily impede tra de,Read More →

arned against further raising tariffs. “Increasing tariffs will only continue to harm America n consumers and businesses of all sizes and across all sectors, as well as threat en American econ omic growth and leadership in innovation,” said Naomi Wilson, the council’s senior director of policy for Asia. US chemical manufacturers also called for sensible trade policy solutions. Cal Dooley, president and CEO of the American Chemistry Council, said on Monday he believed t he risks of continuing to use tariffs as a negotiating tactic with China are simply too high, and potential benefits remain unclear. Several organizations, including Tariffs Hurt the Heartland — theRead More →

ct “regular sales” of “defense articles” to Taiwan and back its participation in international organizations. “We urge the US side to keep its promise, abide by the one-­China policy a nd the three joint communiques, and block the bill’s progress,” Geng said. He urged the US to “appropriately handle the Taiwan question to avoid serious da mage to Sino-US cooperation in key areas, and the peace and security of the region”. Experts said the bill will further damage Sino-US relations, and the confr ontational approach taken by the US against China will damage regional peace and security. Yuan Zheng, director of US foreign relations researchRead More →

 decade is likely to be driven by greater global financial sector integration,” said Alfred Schip ke, the International Monetary Fund’s senior resident representative for China. Chinese students are increasingly diversifying their choices of destinations for overseas stud ies, with more students choosing to go to the United Kingdom, Australia and Canada, a new report showed. In a multiple choice survey for the annual Report on Chinese Students’ Overseas Study, released on Tuesday, while the United States remains the most popular destination for overseas study this year, pref erred by 43 percent of the respondents, this was down by 8 percentage points compared with 2015. USRead More →

ch and field development resources to expand in the Chinese market over the coming years, he said. Ministry of Commerce spokesman Gao Feng said last month that the two countries’ negotiating teams are hashing out the text of a deal, including an enforcem ent mechanism, based on mutual respect and benefit. Both countries, the world’s two biggest ec onomies, have been intensifying their consultations and aiming to break the deadlock in a timely manner. In the ninth round of trade consultations, negotiators discussed tec hnology transfers, protection of intellectual property rights, non-tariff measures, the s ervice sector, agriculture, trade imbalances and enforcement mechanisms. Trade betweenRead More →

About 20 Chinese martial arts schools in the Wudang Mountain region have tra ined about 30,000 kung fu enthusiasts from around the world. Yuan Xiugang, a member of the Wudang Martial Arts Association, has taugh t over 60 foreign students since 1995. One of his apprentices, Jack, a 29-year-old from Ill inois in the US, first arrived in Wudang 10 years ago. Now Jack has become a kung fu coach. “My goal is to open a school in the US, letting more Americans appreciate authentic Chinese martial arts,” he said. Thomas, another of Yuan’s students, is from France and explores tea culture. He leases aboutRead More →

The trouble that Boeing has encountered, albeit because of its own irresponsible practices tow ard the safety of passengers and aircraft, has helped its main competitor Airbus to grab so me orders to supply new aircraft. Airbus’ gain and Boeing’s loss in stock market since the Ethiopian Airlines plane crash on March 10 re flects a duopoly market’s sentiment, and demand and supply relations. Yet it would be too farfetched, as well as in humane, to say Boeing’s loss would benefit China, which lost eight of its nationals in the Ethiopian Airlines crash. Nonetheless, the plane crash could help end the world’s obsession with aerospaceRead More →

  all of US higher education in order to promote bilateral educational exchanges, he said.   ”I am here precisely because, like you, I believe these ties are extremely import ant for our academic institutions, but even more importantly, for our nations,” he said.   He noted that there are a large number of overseas students from China at Har vard, and the Chinese language is among the most popular foreign languages at the institution.   He also expressed his admiration for the great emphasis the Ch inese government has placed on education and its efforts to enhance higher education, addi ng that Harvard University is ready to moveRead More →