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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The two nations should also further exchanges and

cooperation in areas including education, culture, science and technology as well as ensuring the success of the China-New Zealand Year of Tourism events, he said.

Ardern expressed her appreciation for Xi’s condolences and support foll

owing the terrorist attack in Christchurch, adding that her choice to proceed with the vi

sit despite the event “does reflect the value New Zealand places on its relationship with China”.

She called the bilateral relationship “one of our most important a

nd far-reaching relationships”, a point she said she has made in speeches over the past year.

She said she hopes that through the visit, the two nations can strengthen their bilateral co

mprehensive strategic partnership and deepen cooperation in trade and people-to-people exchanges.

She also reiterated New Zealand’s adherence to the one-China p

olicy and its independent foreign policy, as well as its firm support for multilateralism and free trade.

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As the new area will be built to the highest standards, ther

will be significant demand for top-quality goods and services,” he told China Daily.

Noting that many European companies are renowned for their innovation and reliability, Bagnasco said that “there shou

ld be plenty of business to be done” in Xiongan. In June, Mats Harborn, chamber president, paid a visit to Xiongan and wa

s received by Chen Gang, vice-governor of Hebei province and director of Xiongan’s management committee.

Chen said he hopes the chamber will take an active role in such areas as green developm

ent, intelligent technologies and innovation in Xiongan, an official news release from the new area said.

“The EU Chamber of Commerce in China has been building relationships in Xiongan for some time now, and the me

eting in June was just one part of that,” Bagnasco said, adding that the meeting was a good opportunity to furt

her develop relationships and deal with more concrete matters, such as specific investment mechanisms.

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The Chinese government has never imposed any policy

 to force foreign companies to transfer their technology,” Gao added, sayi

ng that the country’s Foreign Investment Law bars forced technology transfers.

The newly passed law, approved this month and set to take effect in January, stipulates that China will treat foreign and Chi

nese enterprises equally and protect their intellectual property rights. Under the law, foreign enterprises will recei

ve pre-establishment national treatment, in addition to a negative list system for market access.

A negative list shows areas where investment i

s limited or prohibited for foreign investors, with all other areas presumed to be open.

Gao said the ministry is working with relevant de

partments to conduct research on shortening the negative list for market access.

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But some were unmoved and the Northern Irish party cruc

rucial to getting the agreement through said it would reject the deal again.

Britain was supposed to leave the bloc on Friday but Brussels agreed last week to put back the

divorce date until April 12 to give it a chance to resolve a three-year crisis that has split the country down the middle.

However, it still remains uncertain how, when or even whether the United Kingdom, the wo

rld’s fifth-biggest economy, will leave the EU. The possibilities that it will leave with no deal to so

ften the shock to its economy, or delay the departure date to hold a general election, have increased as other options fade.

While May’s deal continued to stumble, an attempt by parliament to take control of the proc

ess by holding a series of indicative votes on other options produced no immediate way through the impasse.

None of the proposals, many of which involved closer alignmen

t with the EU than May envisages, won the support of a majority of lawmakers.

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The office was established after Kim and South Korean Preside

  nt Moon Jae-in met at the DMZ for an historic summit last year, which was follow

ed by a meeting between Kim and US President Donald Trump in Singapore.

  Pyongyang said it would notify Seoul regarding “further practical matters in the future.”

  In the statement, the Unification Ministry said South Korea regrets the decisi

on, and urged the North to return soon and continue the work being done at the liaison office towards a full peace settlement.

  ”We regard such a withdrawal as very sad and unfortunate (and) we hop

e that the North will return shortly and hope that the liaison contact office will operate nor

mally as soon as possible,” Vice Minister of Unification Chun Hae-sung said at a press conference in Seoul Friday.

  ”We believe that we should take some time to judge (the situation).”

  North Korea’s pull-out Friday from the Kaesong Liason Office has been on cards since Hanoi, given recent

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In June 2018, Oppo launched its high-end smartphone mod

Find X in Paris, marking its official foray into Europe. As of January, it had entered nine European markets, including Italy, Spain, and the United Kingdom.

Wu Qiang, who is in charge of Oppo’s overseas business, said the company is not adopting an aggressi

ve strategy in overseas markets. Instead, it strictly follows CEO Chen Mingyong’s principle of “eating rice bite by bite”.

“We will only enter the next market after doing a good job in existing markets,” Wu said.

Oppo’s intensified interest in foreign countries came after the Chinese sma

rtphone market hit a saturation point, with shipments declining for several quarters.

From September to December of 2018, smartphone shipments in China plunged almost 10 pe

rcent year-on-year, according to data from market research company International Data Corp or IDC.

Though Oppo outgrew the industry average to achieve an annual expansion rate of 1.5 pe

rcent in that time-frame, there is still a pressing need to look for new opportunities, Wu said.

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cel Hirscher has won eight straight World Cup overall titles but

  On the men’s circuit, Marcel Hirscher is arguably the greatest ski

racer there has ever been, but he hinted in Andorra his stellar career could be nearly over.

  The Austrian great has sealed an unprecedented eighth World Cup season

overall title as well as a sixth giant slalom season crown and fifth in a row.

  But the 29-year-old was unimpressed with his lackluster sixth place in the final

World Cup giant slalom of the season Saturday.

  ”If I ski further I have a lot of work to do,” he told Eurosport in the finish area in Soldeu.

  ”Before I have to have a clear mind and maybe as well I have to make the

right decision for the future what are my plans for the upcoming season.”

  Hirscher, whose wife Laura gave birth to the couple’s first child last year, has won 67 Wo

rld Cup races to sit third on the all-time list behind American Lindsey Vonn (82)

and Sweden’s Ingemar Stenmark (86).

  The Austrian star, who has also wrapped up a third straight slalom crown and sixth in to

tal, admitted at last month’s World Championships in Sweden that it could

be his last appearance at the biennial event.

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using security concerns to harm Chinese companies, NPC sposays

It is neither fair nor ethical for US government officials to play up so-called security risks associat

ed with Chinese companies and linking them to China’s National Intelligence Law, Zhang Yesui, spok

esman for the National People’s Congress said at a press conference on Monday in Beijing.

This kind of behavior was interrupting economic activities with politica

l means and violated World Trade Organization rules and damaged fair competition, he said.

“This is typical double standards,” he said.

The purpose of China’s National Intelligence Law, Zhang said, is not to underm

ine other countries’ security interests, but to strengthen and safeguard national security.

It is an internationally accepted practice to protect national security throu

gh legislation and there are similar laws in the United States and Europe, he said, ad

ding that China has learnt from the practice of other countries during the legislative process for this law.

He also said that the Chinese government has repeatedly expressed its hope that countrie

s should abide by fair competition and provide a non-discriminatory business environment for Chinese companies.

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Japan’s ambition is to become a global political power. But

litical and diplomatic means alone cannot support Japan’s global ambitions. A military presence at the global level is needed if Japan is to expand its political clout.

Compared with old European powers like the UK and France, Japan’s military influence in Europe is jerkwater. But it is different after Japan signed military pa

cts with these countries – Japan’s political influence is increasing because of the support of military powers.

With the influence of the UK and France declining in the Asia-Pacific region, their military activities can get

the support from Japan via the ACSA, which will immensely boost Japan’s military clout. These European countries will not look at Ja

pan through the military lens, which will effectively strengthen Japan’s political might.

Meanwhile, exchange of military provisions will help enhance people-to-people exchanges between Japan and these countries, ex

erting Japan‘s cultural influence in these countries and beyond. Even if Japan fails to become a permanent member of the UN Security Co

uncil, it can still play a major role in the world. This has been part of the global strategies of the Abe administration.

We can see that Japan signing ACSAs with six countries is not just for defense and military purposes, it’s part of an overall plan to influence economics, po

litics, military and culture, which is a long-term strategic mind-set of the Japanese government.

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