The US administration has launched a trade war with China and other major economic powers. We have to realize the fact that the world is changing to a new stage fraught with uncertainties.
US Secretary of State Mike Pompeo is scheduled to visit China on Monday, following US Vice President Mike Pence's speech which highlighted a more aggressive approach toward China on Thursday.
The People's Bank of China (PBOC) decided on Sunday to cut the reserve requirement ratio (RRR) for RMB deposits by one percentage point starting from Oct. 15, but the stance of China's monetary policy remains unchanged.
The Republic of Macedonia held a non-binding referendum on September 30 to decide whether to change the name of the constitutional state – which has been used since its independence in 1991 – to the "Republic of North Macedonia". Preliminary results released on October 1 showed that 90 percent of voters said "yes", but the turnout was below 50 percent and the referendum may be invalid.
The trade row between the US and China escalated as the Trump administration imposed new 10 percent tariffs on $200 billion of Chinese imports, effective Monday. From the new year, this round of US tariffs will be increased to 25 percent.
Amid all the unfair tariffs and false accusations made by the US to attack China, one claim has been particularly irritating: Western countries have continually accused China of requiring transfer of technology in return for access to its market. The US government has repeated this lie many times to make it sound like the truth. However, it is the Western countries that invented the idea of using technology to gain access to other markets.
US President Donald Trump's address at the 73rd UN General Assembly (UNGA) has shocked the world again. Trump put it bluntly, "We reject the ideology of globalism and we embrace the doctrine of patriotism." But UN Secretary General Antonio Guterres once said that multilateralism was more vital than ever to tackling dramatic global challenges. French President Emmanuel Macron also addressed the assembly and warned without multilateralism global wars would return.
After the US began to replace the multilateral rules-based order with a bilateral one and launched one-on-one offensives against global trading partners, officials from China, Japan and South Korea vowed to speed up negotiations for a trilateral Free Trade Agreement (FTA) at a forum in Beijing last week.
In a rare high-level interview on the topic, Le Yucheng, Chinese vice-minister for foreign affairs, has spoken at length to the Financial Times about China’s vision for the BRI.
China published a white paper on Monday to clarify the facts about China-U.S. economic and trade relations, demonstrate its stance on trade friction with the United States, and pursue reasonable solutions.
The US continues to sanction other countries’ economies, a senior Chinese university scholar told Sputnik Friday, because its own economic growth has stalled. But countries like Russia and China, which know struggle and hardship, can easily outlast the Trump administration, he said.
The leaders of EU members met in Salzburg, Austria on September 19 for two days, and Brexit is the major issue of the summit. Although it is not an official summit, the whole Europe pays much attention to it due to its topic.
In relation to myths in sections of the Chinese media regarding a (non-existent) expansion of US manufacturing, I remember being contacted by one Chinese media outlet and being asked if I would write an article on, "the implications for China of the expansion of US manufacturing."
As Swedish elections concluded on September 9, European countries breathed a sigh of relief. Even though the vote for the far-right Sweden Democrats had increased, the Social Democratic Party (SDP) still won the largest number of votes, discounting fears that the nationalists could gain ground in the country considered an epitome of liberal values.
The twice-postponed two plus two ministerial dialogue between the US and India took place on September 6 in New Delhi, during which US Secretary of State Mike Pompeo and Defense Secretary James Mattis held talks with their Indian counterparts - External Affairs Minister Sushma Swaraj and Defense Minister Nirmala Sitharaman, over a string of issues including bilateral security cooperation, US sanctions against Iran and India's purchase of Russian air defense missiles.
Fresh statistics show that China's economy is in good shape, though many people are deeply concerned about the downward pressure that's been building since the beginning of this year.
On September 7, China's central bank the People's Bank of China released data showing that China's total foreign exchange reserves in August were 3.1097 trillion US dollars, down 0.26 percent from the end of July.
Although the market has been worrying that a weak yuan would trigger a large amount of capital outflow, recent data shows that despite a slight dip in China's foreign currency reserve in August, outflow will likely remain stable.
Belt and Road Initiative (BRI) is not about infrastructure per se, it is about the enabling impact of infrastructure for economic growth and independence.
This year marks the fifth anniversary of the Belt and Road Initiative (BRI). While its spirit of peace, cooperation and mutual benefit as well as its principles of extensive consultation, joint contribution and shared benefits have been increasingly recognized, some foreign scholars constantly coined new terms to discredit the initiative.