ei Jianguo, a former vice-minister of commerce, said US bus

inesses and consumers will pay the cost amid hefty levies, which will eventually add significant pressure on the US economy.

The US government’s moves risk sparking a full-blown trade

war with China, and China is fully prepared for any possibility, Wei said.

Economists at Goldman Sachs said in a research note that recent data showed the costs of Washington’s tariffs on China last year

had fallen “entirely” on US businesses and households, with no clear reduction in prices charged by Chinese exporters.

The bank said that US consumer prices are higher, partly because Chinese exporters have not low

ered their prices to better compete in the US market. In addition, some US producers “op

portunistically” increased prices in response to protection from Chinese competitors, it said.

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Online English education sector records 168% growth but ch

nline English-language courses for children saw an explosive growth in 20

18, according to a report released by data-monitoring firm Trustdata on Tuesday.

The report on China’s online English education market for children s

hows that the market had more than 15 million users last year, up 168.3 percent year-on-ye

ar. It’s expected that the market size would surpass 50 billion yuan ($7.3 billion) in 2019.

The market pattern of one-on-one teaching has been gradually for

med and the top brands have secured the lion’s share of the market, as per the report.

Market size doubles in one year

The market size of online English-language education for childre

n was 21.3 billion yuan in 2018, an increase of 104 percent year-on-year, with one-on-one teaching taking

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Fertility rates, meanwhile, remain astonishingly high in

n some countries, especially in Sub-Saharan Africa. In a few of the poorest-Niger, Mali and th

e Democratic Republic of Congo-the rate is 6-7 children per woman. The resulting flood of new ent

rants to the labor market is far outstripping the number of jobs available.

Empowering women key to meeting challenge

No known growth model can accommodate or keep up with this k

ind of demographic surge. Even sustained economic growth of around 7 percent per year

won’t be enough. And although fertility tends to decline as incomes rise, that does not happen immediately. Em

powering women, therefore, may be the most effective way of starting to address the challenge.

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So far, up to 14,000 students in the district have tak

n skating and skiing lessons, said Zheng Shiyong, deputy director of Yanqing district’s education commission.

“We will continue supporting and encouraging more people to participate in winter

sports,” he said, adding that around 17,000 students will experience winter activities by the end of this year.

Some professional winter sports activities have also been designed into the distr

ict’s education plans, with more professional instruction to students, according to Zheng.

The district’s education authorities also cooperated with its sports bu

reau to make winter ice and snow sports available to all residents in the area.

“We will have 110,000 people participating in winter ice and snow acti

vities by 2022 in Yanqing,” said Ma Zhiyong, deputy director of the sports bureau.

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The reform and opening-up policies are exactly the kin

ds of market-driven reforms needed to make this happen. The Chinese government is investing heavily in research

and development, but it should be noted that the R&D spending as a percentage of GDP is still lower than that of the US.

Nobody likes competition against themselves. So, it must be admitted that China’s transiti

on to a high-tech, high-value-added economy will come as a shock to many companies around the world.

The US economy, which has about 7 percent of GDP in high-tech manufacturing, will be lightly affected by this change.

On the other hand, advanced manufacturing contributes around 20 percent of GDP in South Korea, Japan, Ge

rmany and a few smaller European countries. They will be much more directly affected.

China’s transition over the next 10 years will not be painless for its compa

nies or for foreign competitors. But, reform and opening-up policies that create more com

petitive companies and markets are the only way to achieve a richer and more productive world economy in the long term.

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My reaction (to the share price) is if we build and bu

ild well, shareholders will be rewarded. We’re certainly not measu

ring our success over a day, it really is over the years,” Khosrowshahi told Reuters.

The IPO was a watershed moment for the decade-old com

pany, which was started after its founders struggled to find a cab on a snowy night.

Khosrowshahi was accompanied by a team of Uber officials at the NYSE to celebrate. Co-founder and former CEO Tra

vis Kalanick, who resigned in 2017 under pressure from investors, was also seen on the trading floor.

MARRED BY SCANDAL

The company’s road to IPO was marred by several hurdles includ

ing increased regulation in several countries and fights with its drivers over wages.

ash166.cn

Wu Zhongliang, director of the administration’s Institu

itute of Earthquake Forecasting, said the experimental site will help form a

“united front” at the national and international level to work on earthquake forecasting.

Referring to earthquake forecasting as a hard nut to crack, Wu said t

he work cannot see marked progress just in a few days, but forecasting capability will be imp

roved as technology develops. “If it’s a war between humans and earthquakes, it’s us that will finally win,” he said.

Paul Tapponnier, a distinguished research professor a

t the administration’s Institute of Crustal Dynamics, said he “wholeheartedly” wel

comes the project. China boasts unique conditions to carry out the experiment as most of its earthquakes oc

cur “inside the land under the feet of the people” rather than in the ocean, and there are many active faults in the country.

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US soy farmers call for cool-down of trade tensions

US soy farmers have urged Washington to work for a positive solution to the current tarif

f dispute with the world’s top oilseed buyer China, and avoid further escalation of trade tensions.

In a statement released late Tuesday, the American Soybean Association (ASA) described the t

hreat by US President Donald Trump’s administration to increase the tariff rate from 10 percent to 25 p

ercent on $200 billion worth of Chinese goods as the “worst case” for US soybean growers.

“This is a predicament for soy growers,” said Davie Stephens, ASA president and a soybean farmer from Kentucky.

“With depressed (soybean) prices and unsold stocks fo

recast to double before the 2019 harvest begins in September, we nee

d the China market reopened to US soybean exports within weeks, not months or longer,” he added.

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Pam Marsden, head of production for Sony Pictures Anim

mation, also considers characterization as a crucial element to developing successful animated works.

The studio’s 2018 smash hit Spider-Man: Into the Spider-Verse won a string of awards, including the 91st Os

cars’ best animated feature, thanks to its unique look that combines computer animation and traditional hand-drawn techniques.

Speaking of developing a formula for making hit movies, Marsden says: “It begin

s with characters. If you can create a character that is beloved, charming and appealing, and touches the hearts of an audie

nce, you are well on your way to creating a successful animated movie that can cross all borders.”

If Hollywood’s experience leads it to focus primarily on the characters they create, Japanese director Hay

ato Date says he believes that voice-over dialogue is another important factor affecting the success of any animated work.

Best known for the manga-adapted animated TV series Naruto and Naruto: Shippuden, Date r

eveals that he has developed a particular method which gathers all the voice artists together to record the scenes.

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Sales of Saky products in the lower-tier market only accou

unt for about 20 percent of the total, but they have quadrupled in the past two years.

“If you can prove to small-town youths that the products are useful, they are willing to pay,” Lan said. “Some inno

vative Saky products have also seen rapid growth in lower-tier markets, including one that removes stains from teeth.”

Chen, from Roland Berger, said that while small-town youths are narrowing the gap with their count

erparts in bigger cities in many ways, they still have many distinct demands. If companies want to win t

hem over, it is important for them to have a deep understanding of lower-tier markets and to draw up strategies acc

ordingly, whether in building brand awareness, or providing specialized products and distribution channels.

For example, while helping a jewelry company to access lower-tier markets, he found tha

t jade inlaid with gold is very popular, although it is considered unfashionable by consumers in large cities.

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