The International Monetary Fund warned on Monday that US tariff actions could lead to escalating and sustained trade conflicts that would derail the global economic recovery and dampen medium-term growth prospects.
Despite a slight slowdown in the second quarter, China's growth has remained on track in the first half of this year, reaching an expectation-beating 6.8 percent year-on-year.
Now that the US president has openly labeled the European Union "a foe" of his country, like he has Russia and China, it is difficult to predict how far he is willing to go in pursuit of his "America First" agenda.
THE STATE COUNCIL, China's Cabinet, has decided to build comprehensive cross-border e-commerce experimental zones in 22 cities, including Beijing, Hohhot, Shenyang, Nanning, Lanzhou and Yiwu, where the customs clearance procedures will be simplified for e-commerce enterprises. Beijing Youth Daily comments:
US PRESIDENT Donald Trump claimed Germany is a captive to Russian gas supplies during the summit of the North Atlantic Treaty Organization in Brussels last week. Beijing News commented on Monday:
IN A RECENTLY released green paper, the Chinese Academy of Social Sciences proposed revising the national work schedule in 2030 to nine hours a day and four days a week. Beijing News reports:
After the White House website published a report on June 19, accusing China of resorting to "economic aggression", "economic coercion" and "technology theft", the United States has used the ever-intensifying trade conflict to launch a "targeted attack" against China.
As I travel this week to meet China's State leaders in Beijing, I'll fly over a number of countries where China is dramatically changing economic landscapes. With its Belt and Road Initiative, China is promoting global economic integration by building infrastructure and broadening trade with countries such as Kazakhstan, Russia and about five dozen other countries on multiple continents.
With the global economy being dangerously-threatened and even damaged by unilateralism and trade bullying, the Monday meeting between China and European Union leaders went beyond the bilateral sphere and injected timely impetus into China-EU ties to save the global multilateral trading system from being destroyed by the unilateralism of the United States.
Contrary to US ambassador to NATO Kay Bailey Hutchison's claim prior to the meeting that "the overall theme" of the transatlantic organization's latest summit in Brussels would be its "strength and unity," it was the opposite that was on display; it ended up showcasing discord.
The United States seems intent on initiating long-term trade wars with almost all other countries and wantonly shaking the global stock markets and industrial value chains.
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