China and Germany have agreed to unequivocally oppose protectionism and safeguard the free trade system based on multilateral rules to promote strong, sustainable and balanced global economic growth.
The United States has escalated the tension in the trade disputes between the world`s two largest economies by imposing tariffs on Chinese products worth 34 billion US dollars, and are understandably confronted with reciprocal measures by China on goods worth the same amount imported from the US.
What stands out in the transformation that has come about over the past 40 years since China began to open its doors is not only the degree of change but also how the rise of China has transformed the world.
The Sino-US trade war officially started on July 6 as the Trump administration’s decision to impose a 25 percent tariff on goods from China worth 34 billion dollars came into force, followed by the Chinese government’s announcement that it would “counter against the United States through comprehensive measures of quantity and quality.”
“If Europe does not want to become the periphery of the world, it has to culturally and economically engage with Asia following the ancient silk road”, Robi Ronza (an Italian journalist and writer) predicted in 1984, which has been proved by the Belt and Road Initiative.
Forced to take self-defense countermeasures in response to the trade war ignited by the United States on Friday, China is confident to confront the challenge, and the US-initiated friction will eventually backfire to harm its own markets, in addition to hurting the global economy, officials and analysts said.
On July 6, China and the US, the two largest economies across the globe, will enter "trade war mode". In light of the trade war, which was provoked by the US, the spokesman of China`s Ministry of Commerce said at a news conference on July 5 that although China does not intend to take part in the trade war, we will have to fight back when it becomes necessary, in order to maintain the interests of the country and the people.
The World Trade Organization (WTO) is by far the most important organization regulating world trade. In light of recent unfortunate unilateral impositions of tariffs outside the framework of the WTO by the US administration against a large number of countries, including the EU, China, India, Mexico, Canada and others, it is therefore important to reemphasize the role of this organization-which is crucially important for the economic development of numerous countries.
China released on Thursday the white paper on "China and the World Trade Organization (WTO)" for the first time since its accession to the international trade bloc.
Doctoral student Teng Fei may not be able to present a paper at the US National Aerospace and Electronic Conference (NAECON) 2018 later this month, despite a glowing invitation letter from the organizers.
“[Japan, the US and the EU’s] disputes are internal problems. All the tariff disputes and company’s disputes are family problems. They can solve them with their own principles,” Liu Zhiqin, a senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China commented.
The gathering storm over the Pacific Ocean has become an increasingly severe concern for all participants of the global economy. The Trump Administration, moving to ramp up pressure on China to make trade concessions, threatened to impose tariffs on an additional 200 billion US dollars` worth of Chinese imports and to double that amount if Beijing retaliates with countermeasures.
China is preparing a nationwide green finance development trial model and extending a one-year pilot program in five provinces, to encourage faster and cheaper loans for environment-friendly industries, according to a senior central bank official.
Sri Lanka`s debt problem is a hot topic nowadays. Western media outlets like the New York Times are keen to find fault with the China-proposed Belt and Road initiative (BRI).
On the evening of June 25th, RDCY Seminar Series was held in Chongyang Institute for Financial Studies at Renmin University of China (RDCY). Lv Bingyang, professor of The School of Finance of Renmin University of China, doctoral supervisor and director of department of finance, delivered a speech themed “skills and difficulties in China’s personal income tax reform”. Although personal income tax currently accounts for only about 8% of China`s total tax revenue, the 2018 tax reform is of great si
China`s central bank governor on Tuesday offered reassurance about yuan stability while vowing a continuation of market-oriented foreign exchange reforms.
The escalation of Donald Trump`s trade war with China has swiftly spilled over to other continents, including Europe and even Africa. Despite the economic ripples, a backlash from the rest of the world, and risks of isolating America, the very architect of the multilateral trading system, the economic arsonists in Trump`s White House are setting small fires around the world`s major financial epicenters.
On the evening of June 19th, RDCY Seminar Series was held in Chongyang Institute for Financial Studies at Renmin University of China (RDCY). Jia Wenshan, researcher of National Academy of Development and Strategy at Renmin University of China (RUC), distinguished professor of School of Journalism and Communication of RUC, expert of the Recruitment Program of Global Experts, academician of the International Cross-cultural Research Institute, tenure professor of Chapman University, delivered a spe
Maintaining the framework of the World Trade Organization (WTO) is a key issue for the prosperity of every country – including China. In developing countries well over a billion people have been lifted out of poverty by economic growth underpinned by globalization, while international trade strongly supports the living standard of advanced countries.
The world is on tenterhooks waiting for the next moves from the Trump Administration in terms of the draconian tariffs he has threatened to place on China as well as on a number of other countries, including our close neighbors Canada and Mexico. And the question remains for most people: Is he really intent on carrying out the threat (the first tariffs are to take effect on July 6) or is this merely an “in-your-face” negotiating tactic to cut a better deal for the United States? We probably won’