and serve the WTO’s interests and goals, and how sh

the organization’s reform be carried out? Two experts share their views on the issue with China Daily’s Liu Jianna. Excerpts fo

llow:China’s developing country status has not changedBai Ming, a senior research fellow at and deputy direc

tor of the Institute of International Market, Chinese Academy of International Trade and Economic Coope

rationDespite the large size of its economy and remarkable GDP growth, China remains the largest developing economy

. Even though there are no WTO definitions of “developed” and “developing” countries, compared with China, p

eople in developed countries enjoy higher living standards. Besides, China still has to lift millions of people out of pov

erty, especially in its central and western regions.Due to its huge population-the largest in the world-China’s per c

apita GDP is still very low in relation to that in developed countries. For instance, China’s per capita GDP of less th

an $10,000 in 2018 was meager compared with the US’ nearly $60,000, and low

er than the over $10,000 per capita GDP of some other developing countries such as Russia and Argentina.

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great strain on the tourist sites and limited tourigreat str

ces, including the transport system, which reduces the quality of tourists’ experience to a large

extent. So a good solution would be more paid leave on the one hand and flexibility for people to avail themselves of the holidays on the other.

Jiang Yiyi, a professor at the School of Leisure Sports and Tourism, Beijing Sport University

Too much pressure on transportation

The four-day May Day holiday would put the transport system to a se

vere test. Confronted with rising pressure on transportation facilities nationwide, the transp

ort department should intensify supply-side reforms to ensure people can travel without hassles during holidays.

Several transport sector problems need immediate attention. First, due to a lack of proper

planning, many tourist and public areas don’t have enough parking lots nearby-as a result, drivers find it extre

mely difficult to park their vehicles. In fact, some cities in Southwest China cannot receive the tourists they have tried s

o hard to woo because of the lack of parking lots near tourist sites and the ensuing traffic jams.

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Second, a fixed trap threshold of $16,000-$17,000 may be

 be a great literary device, but it makes little sense in a dynamic global economy. Since early research on the middle-income trap was published in 2012, the world economy

has grown by about 25 percent-presumably boosting the moving target of a middle-income threshold by a comparable magnitude over t

hat period. Largely for that reason, recent research has couched the trap not in terms of an absolute threshold, but as relative convergence to high-income cou

ntries. From this perspective, danger looms when developing economies’ per capita income approaches 20-30 percent of the level in high-income economies. Giv

en that China will hit about 30 percent of the United States’ per capita GDP (in PPP terms) in 2019, it must be time to worry!

Slowing growth not as alarming as feared

Third, not all growth slowdowns are alike. A country’s GDP is a broad aggregation of a multiplicity of activities across sectors, busin

esses and products. Structural shifts from one sector to another can give the appearance of a growth discontinuity that may be nothing mo

re than the outcome of a deliberate rebalancing strategy. This is very much the case with China today, given its shift from

higher-growth manufacturing and other “secondary” industries to slower-growing services, or “tertiary” industries. To the extent

that this shift is the intended result of China’s strategic rebalancing, a slowdown in growth is far less alarming.

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Prime Minister May is seeking a fourth vote on her

Withdrawal Agreement, which has been rejected by the parliament three times since January.

The first round of unbinding “indicative vote” was conducted on March 27, in which none o

f MPs’ eight proposed options secured a majority, but among them, the proposed options about a custom

s union with the Europan Union and a referendum on any deal received most support from the lawmakers.

Many of those eight options have returned for round two, but some have been replaced with new alternatives.

The prime minister, who is struggling to hold her party together, warned Sunday night that she

faced resignation and a split in the Conservative Party if she agrees to pursue a “soft” Brexit this week.

The British cabinet is expected to meet on Tuesday morning to consider how to proceed

with the vote outcomes amid speculation about possible resignations, a general election or change of Tory leader.

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The situation in Beira, a low-lying port city on the Indian

  Ocean, was described by the International Federation of Red Cross and Red Cre

scent Societies (IFRC) as “terrible” following an aerial assessment conducted by the agency Monday.

  IFRC spokesman Jamie LeSueur said that up to 90% of the ar

ea had been destroyed. “The scale of devastation is enormous,” said LeSueur.

  On Sunday, a dam burst cutting off the last road to the city, which aid workers are now struggling to reach.

  A former Portuguese colony, Mozambiq

ue gained independence in 1975 and suffered a 16-year civil war that ended in 1992. Today, despite recent eco

nomic growth, about half the population remains below the poverty line.

  Cylone Idai has caused destruction on such a large scale because of that poverty and lack of infrastructure.

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Twelve operating theatres worked through the night on

he more than 40 people wounded, said hospital authorities. Thirty six people were still

being treated on Saturday, of which 11 remained in intensive care. One victim died in hospital.

“The wounds from gunshots are often quite significant,” Christch

urch Hospital’s Chief of Surgery Greg Robertson told reporters. “Many of the peop

le require multiple trips to the theatre to deal with the complex series of injuries they have.”

Funerals were planned on Saturday for some of the victims, several of whom were bor

n overseas.
Dozens of people laid flowers at cordons near both mosques in Christchurch, whic

h is still rebuilding after a devastating earthquake in 2011 that killed almost 200 people.

Wearing a black scarf over her head, Ardern hugged members of the Muslim community at a Chr

istchurch refugee center on Saturday. “I convey the message of love and support on behalf of New Zealand to all of you,” she said.

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The upcoming two sessions will be very illuminating in

regard to how Chinese authorities manage to achieve their aims in a difficult context for international trade and the global economy,” he said.

Schmidt said he will also pay close attention to any announc

ement related to the development of the Belt and Road Initiative during the two sessions.

The second Belt and Road Forum for International Cooperation will be held in April.

“The initiative is a visionary proposal to revitalize globalization,” Schmidt said.

Paudyal, of Nepal, said: “I hope and believe that the two sessions will discuss the positive effect of t

he BRI in China and in the outside world to make it more effective for achieving inclusive growth of regional economies.”

Environmental protection is another area of interest for foreign envoys.

The increasing number of days with blue skies in Beijing and its improving air quality over

the past year is a visible indicator of the good progress that is being made, Paudyal said.

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But dreams of a new reality for Iran screeched to a halt in

  But dreams of a new reality for Iran screeched to a halt in May 2018 when President Donald Tr

ump pulled the United States out of the nuclear deal. Despite repeated certifications that Iran was

sticking to its end of the bargain, Trump unleashed several rounds of stinging sanctions on the country.

  The US president said the penalties aimed to force Iran to end its military adventurism in the region, a demand that Iranian officials have repeatedly brushed off.

  Officially, the sanctions exempt humanitarian goods, such as food, medicine and medicin

al instruments. But in reality, shortages in essential goods have affected households across the country.

  Ali now gets the medicines to treat his daughter’s rare genetic disease, from friends living abr

oad. Her medical bill has more than doubled, forcing him to sell his car, work two jobs, and accu

mulate loans. He says that his entire salary from his day job as a waiter goes toward Dory’s treatment.

  ”I am a wedding singer at night. I try to stay cheery and

keep a smile on my face, but on the inside all I can think about is my daughter,” says Ali.

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Both sides have showed their strength and volition in

 unprecedented trade war: The US didn’t easily stop and China was not that fragile to be defeated. How

ever, it has proven no empty talk that in a long-term trade war, both sides would eventually lose.

President Xi and President Trump reached consensus on December 1 and put the two countries back onto the win-win track. Th

e consensus has responded to the situation, conformed with people’s wishes and reversed the pessimism of the market.

Starting December 2018, rounds of consultations resolved a large n

umber of divergences. The outcome has been sufficient to outline a new face of China-US econo

ic and trade cooperation and to bring an incalculable impetus to both sides’ economic development.

In the final phase of the talks, both sides must keep calm, treasure the already-made ach

ievements and promote smoother and fairer China-US trade cooperation.

US demand for China’s structural reform must stay in line with China-US trade coo

peration and coordinate with China’s reform and opening-up. The talks must not tr

y to force Beijing to change its economic governance or even its development path.

The final deal should attend to the interests of nongovernmental organizations that ultimately carry out economic and trade cooperation.

China and the US must sign an agreement that will inspire their peo

ple,  heralding accelerated economic development. Only such deals can withstand the test of history.

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ending by banks surges in Januaryasures fend off nega

hina’s credit growth surged unexpectedly to a record pace in January, strengthening production in the real econo

my and easing overall downward pressure, People’s Bank of China, the country’s central bank, said on Friday.

Bank lending in domestic currency increased by 3.23 trillion yuan ($476.8 billion) last month, the fastest single-month growth

since the figure was first tracked in 1992. It increased by 2.9 trillion yuan in January 2018, the bank said.

Total social financing, a broader measure comprising all money the real economy receives from the fi

nancial sector, including off-balance-sheet financing activities, rose by 4.64 trillion yuan in Ja

nuary, which was also the fastest monthly growth ever, according to the central bank.

The month’s rapid credit growth was a result of a series of precauti

onary measures to ease the negative effects of slowing domestic demand and external h

eadwinds, according to Sun Guofeng, head of the bank’s monetary policy department, at a news conference.

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