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urged to avoid more damage to China tiesonly

Beijing urged Washington on Saturday “not to go too far” in harming China’s interest

s, and called for it to change course to avoid further damaging bilateral ties.

China firmly opposes the United States’ recent remarks and actions that harmed China’s interests, in

cluding its resorting to political means to suppress normal operations of Chinese companies, State Coun

cilor and Foreign Minister Wang Yi said in a phone call with US Secretary of State Mike Pompeo.

History and reality show that China and the US both benefit f

rom cooperating with each other, while both suffer from bilate

ral conflicts, and cooperation is the only proper choice for the two major countries, Wang said.

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competitors. This was the policy followed by the US in the

 in the 19th century and by Western Europe, Japan, and South Korea in the years after World War II.

China is no longer a poor country. It can no longer compete by using l

ow-wage labor. Fortunately, it has now developed world-class companies that are incr

easingly developing new products and services that can compete successfully in many foreign markets.

Now that it has reached middle-income status, China’s economic strategy will focus on creating a highly competitive dom

estic market that forces companies to produce high-value goods so they can pay high wages to highly skilled people.

Because of its long experience in manufacturing, much of th

at push will be focused on higher value-added production, using the new technologies of rob

otics, artificial intelligence, the internet of things and 5G. This is the only way to avoid the middle-income trap.

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China has also recently announced a strengthened reg

gime of intellectual property rights protection. Again, this is what foreign negotiat

ors are seeking, but also is important for China’s own economy as it transitions to being a technology leader.

Trade agreements can affect the types of goods being traded and they can redirect trade toward one c

ountry, away from others. They cannot directly affect any country’s worldwide current account bal

ance. A country that saves less than it invests will have to borrow foreign funds to import foreign goods to make up that difference.

There are two ways to reduce the US trade deficit. A serious recession would reduce investme

nt, but nobody advocates that as a strategy. The only other path is to change the US financial and gov

ernment system to encourage increased savings. China has almost nothing to do with it.

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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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Rich Chinese parents also caught up in college admissions scandal

Paying millions of dollars to secure their children a spot at an elite college may

sound absurd to many parents, but some are willing to do this.

Nicole Shen, the Chinese mother of a high school student in Palo Alto, California, said she would be wi

lling to pay a pretty penny upfront to get her daughter admitted to a top-tier university if she could afford it. “As long as eve

rything is legal,” she added.Zhao, 52, was introduced to William “Rick” Singer, a college consultant in California and the mast

ermind behind the scandal, by Michael Wu, who worked as an adviser at the Los Angeles area branch of in

vestment bank Morgan Stanley, according to the Los Angeles Times. Wu has since been fired.

Two wealthy Chinese families have recently been in the spotlight and t

he subject of widespread discussion after media reports showed they paid huge am

ounts in a high-profile college admissions scandal. The sums they paid dwarfed the typical amount footed by US parents.

The highest-known payoff to date is the $6.5 million by billionaire Zhao Tao, president and co-founder of Shandong Buchang Pharmaceuticals Co.

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Lan Fei, marketing center director for Guangzhou Wei

meizi Industrial Co in Guangdong province, said people in lower-tier cities have huge consumption power.

In 2016, the company’s oral care brand Saky reached customers in lower-tier cities for the first time. Mor

eover, the quality of oral care products in this market varies, so there is huge potential.

In addition to traditional sales channels such as supermarkets and stores, Saky was introduced to co

nsumers in lower-tier cities by livestreaming hosts on social media platforms. The hosts used en

tertaining methods to introduce oral care products and educate consumers about the correct way to use them.

“On Kuaishou, the host placed some sesame powder on a piece of c

orn, showing that Saky’s electric toothbrush could easily wash it away,” he said. “The host

also held a Saky electric toothbrush against a balloon (which did not burst) to demonstrate that its power could not damage teeth.”

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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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r kids’ footprints have been left on hundreds of desti

“Products that just scratch the surface, like simple tours of famous universities, have fallen out of favor with the market,” Zhang says.

Language training, NASA’s space camp, computer programming, homes

tays, wild animal care and desert and museum experiences are among the most popular options.

“Certain volunteering and public-welfare routes have seen a particularly fast increase in bookings,” Zhang says.

During the recent winter vacation in February, study-t

rip bookings surged by 80 percent compared with the same period of last year.

Domestic trips cost roughly 4,500 yuan ($663) per capita on ave

rage, while expenditures hit 21,000 yuan for outbound experiences, the agency reports.

Parents from Shanghai, Beijing and Guangdong province’s Guangz

hou and Shenzhen are the most willing to spend, according to Ctrip’s data.

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Our program features opportunities for students to exp

xperience what is it like in real satellite development projects,” Cui said.

“We will ask the students to set up a project team to simulate research and development of an imaginary satellite, and e

ach of them will be designated a role ranging from chief designer to subsystem manager,” Cui added.

“We also offer opportunities to the students to visit satellite research-related institu

tes and satellite users to see satellites’ assembly, testing and experiments,” Cui said.

“They will be able to get personal understanding of spacecraft research and development and obtain some know-how.”

He said space training providers in other countries will not take foreign students to design or production sites.

Cui said most of the lecturers in the program are senior researchers and chief desi

gners at Chinese space institutes and provide the foreign students with the latest expertise.

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As the state was looking for innovative ways to tackle

 the Asian carp problem, Kentucky awarded Yu its first-ever fish house contract in fall last year. Under the deal, Yu’s Kentucky Fish

Center will buy Asian carp at a guaranteed price, with part of this coming from a government subsidy.

All fish at the center will be sold by auction to buyers in the US or overseas. S

ales will be overseen by the Kentucky Department of Fish and Wildlife Resources.

Kentucky provided a secured $734,000 fixed-assets loan to help the center begin oper

ating. Additional incentives will be awarded every year based on performance.

The center needs to reach certain goals: to remove 2.26 million kg of Asian

carp from Kentucky waters this year and increase that amount gradually to just ov

er 9 million kg annually by 2024. If those goals are met, the loan will be waived.

The entire program will cost Kentucky about $4 million.

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