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In the 1980s, the share of the US in the world econ

omy was more than 20 percent; in the past four decades, it has steadily

declined to 15 percent. At the same time, China’s share (in purchasing powe

r parity terms) has soared from 5 percent to about 20 percent. While the PPP indicators inflate the

pace of progress, the trend lines do herald a coming structural shift in the world economy.

China can foster the share of developing nations

In the future, the well-being of the advanced economies will de

pend on the rising living standards in less-wealthy nati

ons. And just as US leadership supported the role of the advanced countries in the 20th century world, Ch

ina has the potential to foster the share of emerging and developing countries in the 21st century.

In particular, the China-proposed Belt and Road Initiative can redirect domestic overcapacity and ca

pital for regional infrastructure development to improve trade and relations with Southeast and So

uth Asia, Central Asia, the Middle East and Europe-even across the Americas and Sub-Saharan Africa.

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McGuinness identified a great number of opportuni

ties brought by the BRI, which by some estimates could be worth 1.8 billion pounds ($2.33 billion) annually to the British economy.

As a financial hub for international infrastructure investmen

t, British firms and international companies based in the UK stand ready to provide many of the ser

vices required along the Belt and Road, especially as it becomes more of a shared venture, she said.

They can also provide private financing required by the project and support thro

ugh green finance, consultancy, rule of law and foreign exchange, McGuinness added.

Seventy years after the founding of the People’s Republic of China, ties between China and UK h

ave gone from strength to strength, with bilateral trade now worth nearly 70 billion pounds, McGuinness said.

“I look forward to celebrating this long, fruitful relationship with our Chinese counterp

arts, and to marking the next chapter of our partnership in the Belt and Road,” she added.

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Relevant government departments have begun inves

igations into the source of the vaccines to find out whether they were fake vaccines or smuggled in from overseas.

The HPV 9-valent vaccine, only officially available at Boao Super Hospital in the Boao Lech

eng International Medical Tourism Pilot Zone in Hainan since May last year, was developed for women bet

ween the ages of 16 and 26 to deal with diseases like cervical cancer caused by nine types of HPV.

The Boao pilot zone is the first place on the Chinese mainlan

d allowed to import HPV 9-valent vaccines and other drugs without ne

eding central government permission, in line with the nine preferential polices granted to it by the Stat

e in 2013, such as special permissions in importing medical technology, medical equipment and medicine.

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Two Chinese nationals were confirmed killed, the

Chinese Embassy in Colombo said.The embassy is verifying the number of Chinese injured in the attacks.

Earlier information from the embassy said that four Chinese nationals were injured

in the multiple church and hotel explosions that ripped through the island nation on the Easter day.

The Chinese Embassy has activated an emergency response mechanism immediately a

fter the blasts, and embassy officials have visited the injured who were in hospital for treatment.

Curfew and ban on social media imposed

The government has imposed a nationwide curfew from 6 pm Sunday to 6 am local time on Monday.

The Sri Lankan government has also imposed a temporary ban on social media to prevent the spread of false information.

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Taylor said the US will ultimately “pay the price for

this”, in the form of an incomplete and inaccurate understanding of China by barring scholars wh

o have great familiarity with US politics and policymaking and have the ear of Chinese officials.

Douglas H. Paal, vice-president of the Asia Program at the Carn

egie Endowment for International Peace, said it appears that the scholars who best unders

tand the US and communicate well with China’s leaders are being denied visas or threatened with denial.

“I don’t see how this is in America’s interest,” Paal said.

Some US media have mentioned that China also denies visas to

US academics, but Taylor and Paal said that has not been

their experience when applying for Chinese visas to visit China for academic exchanges.

In a news conference on Thursday, when asked if China rejected a visa application fr

om an adviser to US President Donald Trump, Foreign Ministry spokesman Lu Kang

said Chinese embassies and consulates overseas always handle visa applications according to law.

China welcomes cultural exchanges between China and the US an

d will actively promote mutual understanding between the two countries, Lu said.

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D’s stock tumbled after the student first accused Liu in A

August, and its shares have slowly crawled back since Decembe

r. Hong Tao, an analyst from GF Securities, said the tech heavyweight has faced troubles. JD’s adv

anced logistics system, which is its core strength, has been overtaken by Alibaba’s Cainiao Logistics.

JD is in the spotlight as it is reducing salaries for its delivery staff and seeing a round

of shake-ups in its management team. Its chief technology officer Zhang Chen, chief lega

l officer Long Yu, and chief public affairs officer Lan Ye, all announced their resignation within just one month.

The company said in February that it would lay off 10 percent of its senior executives above vice-president level this year.

The 7-coin set contains two gold coins and five silver coins, with a variety of shapes. Designs i

nclude traditional Chinese ornamentation, dragon, phoenix, flowers and bird. All are legal tender.

The coins are made by Shenzhen Guobao Mint, Shenyang Mint and Shanghai Mint.

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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.

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Technology, tourism freeze time on Hani’s amazing

From the camera lenses of tourists, the Hani rice terraces in Yunnan

province are an idyllic emblem of traditional Chinese agriculture: vast expanses of mountain

slopes carved into water-submerged paddies where rice, fish and ducks flourish in co-existence.

A closer look reveals its low-profile modernity: on the verge of some fields stands an ap

paratus the shape of a solar panel, which collects information on the ecosystem for online monitoring and diagnosis.

Lu Zhengxue, who owns one terraced field in Yuanyang county, Honghe Hani and Yi autonomo

us prefecture, is glad the millenniumold landscape is preserved thanks to the modern techn

ology that helps make the rice terraces not just a tourist demonstration but a lucrative business.

“The terraced fields are where my roots are. They are the golden ri

ce bowls passed down from our ancestors,” said Lu, 61. “We cannot afford to lose them.”

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Cyclone Idai: Fears for 500,000 people as 90% of Mozambiqu

  Fears are growing for more than 500,000 people in the Mozambique city of Beira, after a

id agency officials warned that 90% of the area had been “destroyed” by Cyclone Idai.

  The cyclone slammed into the southeast African country as a high-end Category 2 storm with 175 kph (110 mph winds) at midn

ight Thursday, causing widespread devastation, before moving inland into Zimbabwe and Malawi.

  In an address on national radio Monday, Mozambique President Filipe Nyusi warned that while the official death toll

stood at 84, “everything indicates that we can have a record of more than 1,000 dead.”

  Nyusi described seeing “bodies floating” in the water after two rivers broke their banks “wiping out entire vil

lages ” and isolating others. “It’s a real humanitarian disaster of large proportions,” said Nyusi.

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Main goals for economic and social development in 2019

Premier Li Keqiang delivered the government work report at the second session of the 13th National People’s Congress that opened in Beijing on Tuesday.

Here are the main 2019 goals for economic and social development from the report.

— GDP growth of 6-6.5 percent

— Over 11 million new urban jobs, a surveyed urban unemployment rate of around 5.5 percent, and a registered urban unemployment rate within 4.5 percent

— CPI increase of around 3 percent

— A basic equilibrium in the balance of payments, and stable, better-structured imports and exports

— A macro leverage ratio that is basically stable, and effective prevention and control of financial and fiscal risks

— A reduction of over 10 million in the rural poor population

— Personal income growth that is basically in step with economic growth

— A further improvement in the environment

— A drop of around 3 percent in energy consumption per unit of GDP

— Continued reductions in the discharge of major pollutants

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