The spike in trade tensions has already rattled financial

markets. The yuan has weakened by 2 percent to its lowest level since January.

“We expect stock markets and the yuan to remain under pressure in the near term, though they c

ould be supported by an expected stabilization in the domestic economy later this year,” Wu said.

Sheng Songcheng, the former director of the Survey and Statistics Department in the Peo

ple’s Bank of China, said the truth is that imposing more tariffs on Chinese goods has not yet reduced US trade deficits.

The long-lasting US trade deficits in goods was formed from the US

dollar’s international status, its domestic low deposit rate and the US position in the glo

bal value chain, and those factors cannot be changed by protectionist measures, Sheng said.

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Through its app, customers can watch their coffee being

Luckin raised $561 million in its initial public offering Friday by selling 33 million American depositary shares at $17 apiece.

The ADS, which are trading on Nasdaq under the symbol “LK,” closed at $20.38 after rising as high as

$25.96 earlier in the day.Museums are not only there for enjoyment; they are education, and as such should be free.

While I can appreciate the enormous costs involved in maintai

ning and obtaining collections, let the wealthiest 1 percent of the country pay for it.

The Met in NYC is technically free; they ask you to give what you can afford. But the idea

of a person or child interested in art not being able to view it because of cost is morally wrong.

Free entrance does not attract people, nor does it encourage them to appreciate it

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While educational evaluation has an important role of

f guidance, such roughly generated and lame evaluations cannot objectively reflect the real

conditions of schools, and have severely disrupted education activities, the statement said.

The MOE will therefore continue to regulate such acti

vities in accordance with law and regulations, according to the statement.

The China Earthquake Administration pledged to enhance its earthquake detection c

apability as it rolls out an experimental project in the country’s tremor-plagued southwestern region.

The administration has established over 360 new monitoring stations in the China Seismic Experimental Site, which spans Sichuan

and Yunnan provinces, since construction of the project was launched about one year ago, Zheng Guoguang, vice-m

inister of emergency management and head of the administration, told a news conference on Friday.

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Only toward the end of the last century, global econom

 integration-trade, investment and finance-began benefiting large emerging and developing econ

omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m

ust also serve poorer and faster-growing economies, which today account for most of the global growth.

So, by flirting with trade protectionism and punitive tariffs on imports, adva

nced economies are seeking to implement the wrong policies at the wrong time. As the adv

anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco

nomies is not a win-lose game, because it benefits the advanced economies, too.

In the aftermath of the 2008 global financial crisis, all major advanced econom

ies would have faced another Great Depression without the support of large emerging economies, particularly Ch

ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.

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This issue is similar to the environment. External critics

ent. External critics of China don’t appreciate that Chinese themselves realize there

are issues to be addressed. They are doing so. These developments should be encouraged.”

President Xi Jinping, who spoke at the Second Belt and Road Foru

m for International Cooperation in Beijing recen

tly, listed areas in which China will improve the environment for foreign investment.

The president said the nation will work hard to create a business environ

ment that respects the value of intellectual prop

erty, will improve the legal system for IPR protection at all levels, will strengthen law enforcement and pr

otection for the legitimate rights and interests of foreign IP owners and will bar the

forced transfer of technology, improve protection of trade secrets and crack down on infringement.

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Wang, the Chinese think tank member, said many of

nternational relations scholars of his generation think of the US

as an example of the value of “freedom, democracy, fairness and human rights”.

“But those words are no longer applicable to describe the US today,” he said.

Wang said that for him, cancellation of the visa is nothing m

ore than a short-term absence from US academic activities, and “it is the US’ loss, not ours”.

He also said the decision would not affect the Chinese think tank he leads in continuing aca

demic exchanges with the US, and he suggests that China should not take countermeasures over such matters.

“No matter how petty the US becomes, China should still stick to its open attitude rather compete for who’s worse,” he said.

The China-proposed Belt and Road Initiative is not a geopolitical tool or a debt trap for particip

ating countries, but a platform for cooperation, State Councilor and Foreign Minister Wang Yi said on Friday.

Wang made the remark at a press conference ahead of the second Belt and Road F

orum on International Cooperation, which will be held in Beijing next week.

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Lu Zhenwang, CEO of Shanghai-based Wanqing Consul

ltancy, said: “The lawsuit against Liu will bring damages to the image and reputation of JD, hav

e an impact on investors’ confidence, and cause fluctuations in its share price. Moreover, emp

loyees’ trust in the company may also be affected as the Beijing-based tech heavyweight is laying off staff to cut costs.”

Shen Meng, director of boutique investment bank Chanson & Co, said Liu’s case won’t chan

ge his actual control over JD, which is now making some innovations to reassure investors. Liu owns

15.8 percent of JD’s stock and controls nearly 80 percent of the company’s voting rights.

Liu was detained in Minneapolis, Minnesota, on suspicion of criminal sexual c

onduct on Aug 31 and later released without charge or bail. He returned to China on Sept 3.

In December, Hennepin County Attorney’s Office, the prosecutorial office handling the case announced that no sexual as

sault charges would be brought against Liu as prosecutors could not prove his guilt beyond reasonable doubt.

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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.

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The Wall Street Journal reported earlier this week that

 after the pilots turned off the MCAS, they were unable to regain control of the plane. They then re-engaged the anti-stall syste

m, the Journal said. It was not clear why the pilots did not continue following Boeing’s emergency checklist. Aviation exper

ts who asked not to be named told China Daily that using nonstandard procedures may have made things worse.

The preliminary finding by Ethiopian authorities likely will increase pressure on Boeing to deve

lop and install new software for the MCAS. It also is expected to result in a rigorous review of the softw

are fix by the US Federal Aviation Administration, which has been criticized by aviation analysts and mem

ers of Congress for depending too heavily on aircraft industry officials to certify their new planes as safe.

The FAA said late on Wednesday that it will launch a joint task force with NASA and internati

onal aviation regulators to review Boeing’s new software for the anti-stall system. The task force will be headed

by Chris Hart, former chairman of the US National Transportation Safety Board. The FAA has not released the nam

es of those to serve on the Joint Authorities Technical Review team, their affiliations or nationalities.

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Responding to news of Sotoudeh’s sentencing, campaigners ag

  the compulsory hijab were defiant. “By creating fear and putting people in prison or forcing th

em to leave the country and live in exile, or threatening them, they cannot stop the compulsory hijab

protest in Iran,” New York-based Iranian activist Masih Alinejad, who has previously been represented by Sotoudeh, told CNN.

  In January, Sotoudeh’s husband, who is also a human rights lawyer, was convicted of security-related charges and sent

nced to six years in jail. He has appealed while waiting to serve his prison sentence.The inventor of the world

wide web has called for global efforts to tackle state-sponsored hacking, criminal behavior and abusive language on t

he internet, in an open letter marking the 30th anniversary of the revolutionary technology.

  Tim Berners-Lee acknowledged that “many people feel afraid and unsure if the we

b is really a force for good,” in a letter published for his World Wide Web Foundation on Monday.

  ”While the web has created opportunity, given marginalize

d groups a voice, and made our daily lives easier, it has also created opportunity for scam

mers, given a voice to those who spread hatred, and made all kinds of crime easier to commit,” the letter added.

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