Given that the US economy is driven by domestic demand, consumption in particular, instead of exports, a high rate of eco
nomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a situa
tion, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.
To make up for the increasing savings gap, the US needs to introduce and use more foreign ca
pital, which will further enlarge the trade deficit. Therefore, the US cannot simultaneously maintain a high g
rowth rate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.
What is really questionable is that, despite its contempt for over-regulation of the economy, the US administration has been tryi
ng to impose regulations on international trade, even for its trade partners’ domestic economic management.
powerplants, human performance, weather, airports and other ar
eas,” the agency said, adding that it expects to brief the media later in the day.
The plane, chartered from Miami Air International, was attemp
ting to land at about 9:40 pm local time amid thunder and lightning when it slid off the runway and
came to rest in the shallow water of the river, authorities and passengers said.
The military base is on the western bank of the St. Johns River about 8
miles (12.87 km) south of central Jacksonville, about 350 miles (563.27 km) north of Miami.
Miami Air International is a charter airline operating a fleet of the Boeing 737-800, diffe
rent from the 737 MAX 8 aircraft that has been grounded following two fatal crashes involving that plane.
Representatives of the airline did not immediately reply to requests for comment.
The ongoing International Horticultural Exhibition 2019 in Beijing is all about gar
dening, but it doesn’t shy away from high technology that improves visitors’ experience.
To provide visitors with information services, ticket purchasing, parking, travel routes, introductions to scenic sp
ots, medical services, performance arrangements and traveling tips, a mobile phone app called Expo 2019 was developed.
It’s like having a tour guide at hand, said Guo Ziliang, an official at the Beijing World Horticultural Expo Coordination Bureau, the expo’s organizer.
“The app shows people how to conveniently and efficiently make their way through the park,” he said. “It also helps improve the park’s reception capacity.”
The 162-day expo, from April 29 to Oct 7, is expected to receive a total of 16 million visitors.
The app, available in bilingual versions-English and Chinese-can be downloaded for free from online app stores.
growth－and with good reason. China sustained an average annual growth rate of 10 percent from 1980 to 2011, unprece
dented for a large economy. Since 2012, however, the annual growth has slowed down with the Government Wor
k Report presented recently by Premier Li Keqiang setting a growth target of 6-6.5 percent for 2019.
For China doubters, this is a “gotcha” moment. After all, the premier’s grow
th target implies a 40 percent deceleration from the “miracle” trend. This seems to vin
dicate warnings of the dreaded “middle-income trap”－the tendency of fast-growing developing economies to re
vert to a much weaker growth trajectory just when they get their first whiff of prosperity.
The early work on this phenomenon was precise in terms of what to expect: as per capita inco
me moved into the $16,000-$17,000 range (in dollars at purchasing power parity in 2005), a sust
ained growth deceleration of around 2.5 percentage points can be expected. With China having hit that income thr
eshold in 2017, according to International Monetary Fund estimates, its post-2011 slowdown looks all the more ominous.
Italian daily newspaper Corriere della Sera on Wednesday ahead of his European tour, with visits to Italy, Monaco and France.
Though far apart from each other, China and ancient Rome were linked by the old Silk Road over 2,000 years ago, Xi said in the ar
ticle, mentioning the cultural exchanges between the two countries in the distant past.
He said Beijing is willing to deepen cooperation with Rome in such areas as land and marine transportation, avia
tion, aerospace and cultural exchanges to build the Belt and Road in the new era.
“I’m willing to avail myself of this visit to work with Italian lea
ders on the blueprint of Sino-Italian relations and lead the ties into the new era,” Xi said.
He called on the two sides to tap more potential for partnership
in port logistics, shipping, energy, telecommunications and medicine, and encourage enterprises fr
om both countries to develop third-party cooperation to seek mutual benefit and win-win results.