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www.99mee.com_www.sun277.com-【信誉有保障】

文章来源:SEO    发布时间:2019-12-11 15:30:49  【字号:      】

www.99mee.com_www.sun277.com-【信誉有保障】TheconsensusesreachedduringeconomicandtradeconsultationsbetweenChinaandtheUnitedStatesmeettheinterestsofthepeopleofthetwocountriesandwholeworld,ChineseVicePremierLiuHesaidonMonday.Liu,justreturnedfromtheUnitedstates,referredtothetalksas"positive,pragmatic,andproductive"withsomeimportantconsensusesreached.ThevicepremiermadetheremarkswhilemeetingsomeattendeesatthefourthChina-U.S.governors'forum.Liuexpressedhopethatthetwosideswouldtaketheforumasanopportunitytofurtheradvanceall-roundpragmaticcooperationatthelocallevelandpromotestableandsounddevelopmentofbilateralties.BillWalker,governorofAlaskaandJohnSanchez,lieutenantgovernorofNewMexico,wereamongattendeesattheforum.TheytoldLiuthatthewholeworldiscelebratingfortheconsensusesreachedbetweenChinaandtheUnitedStatesoneconomicandtradeissues.TheypledgedtofurtherstrengthencooperationwithChinainsuchareasastrade,investment,greendevelopmentandpeople-to-peopleexchangesatthelocallevel,soastomakepositivecontributiontobilateralties.AlsoMonday,ForeignMinistryspokespersonLuKangtoldadailynewsbriefingthatChinaexpectsnofurtherreversalsintradeandeconomictieswiththeUnitedStates."Ifthegovernmentsofthetwocountriesreachagoodagreementandresultsthatareacceptabletoboth,theyshouldsticktotheagreement.Ofcourse,wedonotwanttoseeanyreversal,"saidLu.Basedontheexperiencesofthepastfourdecades,thefundamentalreasonwhybothnationshavebeenabletomanagedisputeshasbeenthattherelationshipisinthebestinterestofbothcountriesandtheirpeople,headded."WehopethattheChina-U.S.tradeandeconomicrelations,whicharemutuallybeneficialandwin-wininnature,willplayamoreeffectiverole,"saidthespokesperson.  GovernmentstillsupportslegaloutboundinvestmentChina'scross-bordercapitalflowswerestableandbalancedinthefirsthalfofthisyear,"thebestphaseinnearlythreeyears,"whileindividualsdevelopedanincreasedawarenessofhowtouseforeigncurrencylegally,theStateAdministrationofForeignExchange(SAFE)announcedatapressconferenceonThursday.Domesticindividuals'desiretoholdforeigncurrencyhasbeendecreasingingeneral.Inthefirsthalfof2017,individualpurchasesofforeigncurrencyslumpedby4percentyear-on-year,comparedwith14percentgrowthinthesameperiodlastyear,WangChunying,aspokespersonoftheSAFE,saidattheconference.Wangdidn'tdisclosetheexactamountofforeigncurrencypurchasedbyindividualsduringtheperiod.Domesticresidents'foreigncurrencyholdingsfell.7billionyear-on-yearinthefirstsixmonthsthisyear,Wangsaid.LiuXuezhi,asenioranalystatBankofCommunications,saidthatthefiguresshowedtheeffortsofthegovernment'sintensifiedmanagementofthecurrentaccountinrecentmonths.Thecurrentaccountincludesthebalanceoftradeandnettransferpaymentslikethoseinvolvingtourism."Somepeopletransferredmoneyabroadtoengageinoverseasinvestment(inearlierperiods),whichincreasedthepressureofcapitaloutflows.Butthisphenomenoneasedalotafterthegovernmentlaunchedaguidelineinearly2017thatbannedindividualsfromacquiringforeigncurrencytobuypropertiesorinvestinsecuritiesonoffshoremarkets,"LiutoldtheGlobalTimesonThursday.Inthefirstsixmonthsof2017,domesticbankssoldforeignexchangeworth5.95trillionyuan(9billion)andbought5.31trillionyuanworthofforeigncurrency.Chinesebanks'netforeignexchangesettlementdeficitreached.8billion,down46percentonayearlybasis,accordingtodatarevealedbyWangfromtheSAFE.Thesupply-demandbalanceintheforeigncurrencymarkethelpedChina'sforeigncurrencyreservestocontinuerising.AsoftheendofJune,reservesreached.06trillion,up.3billioncomparedwiththeendof2016.Itwasthefifthconsecutivemonthlygaininthereserves.Wangsaidthatcapitaloutflowsvianon-bankinginstitutionsdecreasedalot,whichmeansthatChinahascontinuedtoemergefromthe"shadows"involvingcapitaloutflowsthathoveredoverthenationaround2016.ZhouYu,directoroftheResearchCenterofInternationalFinanceattheShanghaiAcademyofSocialSciences,saidthatapartfromgovernmentmanagement,otherfactorsliketheweakeningdollarandtheimprovingdomesticeconomyhavealsohelpedstabilizetheforeigncurrencymarket.TheUSDollarIndexhaddroppedfrom102attheendof2016to95asof5:56pmBeijingtimeonThursday.China'sGDPgrew6.9percentinthefirsthalfof2017,comparedwith6.8percentgrowthinthefourthquarterof2016."ButIdon'tthinkthatwecancompletelyletourguarddownaboutfuturecapitaloutflows,becausethedollarmightstrengthenagainandtheimpactoftheslumpingrealestatesectoronthedomesticeconomymightbecomeevidentlaterthisyear,"ZhoutoldtheGlobalTimesonThursday.Liusaidthat"instabilityfactors"inChina'sforeigncurrencymarket,suchasdomesticeconomicinstabilityorexternalpressurefromastrongerdollar,aredecreasingandtheforeigncurrencysituationwillimprovefurther.WangnotedthattheSAFE'spolicyinvolvingcurrencymovementshasbeenconsistent,anditwillinsistuponsupportinglegaloutbounddirectinvestmentandpromotingtheconvenienceofoverseastradeandinvestmentwhilebeingalerttopossibleinvestmentrisks.AccordingtoLiu,thegovernmentshouldconsidereasingitsgriponforeigncurrencymanagement,sincethepressureofcapitaloutflowshaseased.Healsosaidthatmeasuresshouldbetakentowardreformsinvolvingthecapitalaccountsuchasspeedingupthebondconnectprogram.  GovernmentstillsupportslegaloutboundinvestmentChina'scross-bordercapitalflowswerestableandbalancedinthefirsthalfofthisyear,"thebestphaseinnearlythreeyears,"whileindividualsdevelopedanincreasedawarenessofhowtouseforeigncurrencylegally,theStateAdministrationofForeignExchange(SAFE)announcedatapressconferenceonThursday.Domesticindividuals'desiretoholdforeigncurrencyhasbeendecreasingingeneral.Inthefirsthalfof2017,individualpurchasesofforeigncurrencyslumpedby4percentyear-on-year,comparedwith14percentgrowthinthesameperiodlastyear,WangChunying,aspokespersonoftheSAFE,saidattheconference.Wangdidn'tdisclosetheexactamountofforeigncurrencypurchasedbyindividualsduringtheperiod.Domesticresidents'foreigncurrencyholdingsfell.7billionyear-on-yearinthefirstsixmonthsthisyear,Wangsaid.LiuXuezhi,asenioranalystatBankofCommunications,saidthatthefiguresshowedtheeffortsofthegovernment'sintensifiedmanagementofthecurrentaccountinrecentmonths.Thecurrentaccountincludesthebalanceoftradeandnettransferpaymentslikethoseinvolvingtourism."Somepeopletransferredmoneyabroadtoengageinoverseasinvestment(inearlierperiods),whichincreasedthepressureofcapitaloutflows.Butthisphenomenoneasedalotafterthegovernmentlaunchedaguidelineinearly2017thatbannedindividualsfromacquiringforeigncurrencytobuypropertiesorinvestinsecuritiesonoffshoremarkets,"LiutoldtheGlobalTimesonThursday.Inthefirstsixmonthsof2017,domesticbankssoldforeignexchangeworth5.95trillionyuan(9billion)andbought5.31trillionyuanworthofforeigncurrency.Chinesebanks'netforeignexchangesettlementdeficitreached.8billion,down46percentonayearlybasis,accordingtodatarevealedbyWangfromtheSAFE.Thesupply-demandbalanceintheforeigncurrencymarkethelpedChina'sforeigncurrencyreservestocontinuerising.AsoftheendofJune,reservesreached.06trillion,up.3billioncomparedwiththeendof2016.Itwasthefifthconsecutivemonthlygaininthereserves.Wangsaidthatcapitaloutflowsvianon-bankinginstitutionsdecreasedalot,whichmeansthatChinahascontinuedtoemergefromthe"shadows"involvingcapitaloutflowsthathoveredoverthenationaround2016.ZhouYu,directoroftheResearchCenterofInternationalFinanceattheShanghaiAcademyofSocialSciences,saidthatapartfromgovernmentmanagement,otherfactorsliketheweakeningdollarandtheimprovingdomesticeconomyhavealsohelpedstabilizetheforeigncurrencymarket.TheUSDollarIndexhaddroppedfrom102attheendof2016to95asof5:56pmBeijingtimeonThursday.China'sGDPgrew6.9percentinthefirsthalfof2017,comparedwith6.8percentgrowthinthefourthquarterof2016."ButIdon'tthinkthatwecancompletelyletourguarddownaboutfuturecapitaloutflows,becausethedollarmightstrengthenagainandtheimpactoftheslumpingrealestatesectoronthedomesticeconomymightbecomeevidentlaterthisyear,"ZhoutoldtheGlobalTimesonThursday.Liusaidthat"instabilityfactors"inChina'sforeigncurrencymarket,suchasdomesticeconomicinstabilityorexternalpressurefromastrongerdollar,aredecreasingandtheforeigncurrencysituationwillimprovefurther.WangnotedthattheSAFE'spolicyinvolvingcurrencymovementshasbeenconsistent,anditwillinsistuponsupportinglegaloutbounddirectinvestmentandpromotingtheconvenienceofoverseastradeandinvestmentwhilebeingalerttopossibleinvestmentrisks.AccordingtoLiu,thegovernmentshouldconsidereasingitsgriponforeigncurrencymanagement,sincethepressureofcapitaloutflowshaseased.Healsosaidthatmeasuresshouldbetakentowardreformsinvolvingthecapitalaccountsuchasspeedingupthebondconnectprogram.  

China'snaturalgasimports,whichcurrentlyaccountformorethan30percentofdomesticconsumption,willcontinuetoriseandboostSino-U.S.energytradewhilechangingtheglobalmarketpattern,expertssaid.Thenation'sgrowingdemandfornaturalgas,underapolicytoreplacepollutingcoalwithcleannaturalgastocombatairpollution,issettoattractmoreenergymajorsworldwidetomeetthedemand,whileamorediversifiedandflexiblenaturalgasimportchannelwillalsohelpensurenationalenergysecurity,saidLiLi,researchdirectoratenergyconsultingcompanyICISChina.Record-highoiloutputintheUSandsurgingdemandforgasinChinahavebeenamainstayforglobalenergytrade,shesaid.Ifthetwocountriescandeepencooperationinthefieldsofenergyinvestmentandtrade,itwillbeawin-winforbothsides,whichplaycomplementaryrolesasproducersandexportersofoilandgas,sheadded.WangLu,anAsia-PacificoilandgasanalystatBloombergIntelligence,echoedsimilarviewsandsaidsolutionstoreducetheU.S.deficitwithChinaexistdespitetradedisputes.Thoughitcan'tclosethegap,increasingexportsofLNGtoChinacouldreducetheUSdeficitwithChina,shesaid.AccordingtoBloombergIntelligence,theUS,whichwasChina'sfifth-largestLNGsupplierandexported1.53millionmetrictonsofLNGtothecountrylastyear,mayincreaseLNGexportstoChina,whichshouldmarginallyreducethetradedeficit.Thecountry'senergycompaniesareallrushingtomeetthedemanddrivenbyChina'srapidlygrowingthirstfornaturalgas.PetroChinasigneda25-yearpurchasecontractwithHouston,Texas-basedCheniereEnergyinFebruaryfor1.2tonsperannumofLNG.PrivatecompaniesincludingGuanghuiEnergyandENNGrouphavejoinedState-ownedCNOOC,PetroChinaandSinopecintheLNGreceivingterminalsbusiness,increasingchannelsforspotLNGimports.BloombergIntelligencefiguresshowlastyear'sLNGtradewiththeU.S.wasworthabout4million,lessthan0.2percentofthetradegapof5billion.WhileU.S.CommerceSecretaryWilburRossencouragesChinatoimportmoreLNGtoreducethedeficit,thecontributionwouldbemarginal.Inadditiontothecleanfuel,WangestimatedthatChinamaybuymoreU.S.oil,extendinglastyear'strendandmarginallyreducingthetradedeficit.FiguresofBloombergIntelligenceshowU.S.crude-oilexportstoChinatotaled.4billionin2017,calculatedbymultiplyingmonthlyaverageWITpricesandtradedbarrels.That's1.2percentoflastyear's5billiontradedeficit.TheU.S.EnergyInformationAdministrationliftedthe2018averageU.S.crudeoilproductionforecasttoarecord10.7millionbarrelsaday.Therecord-highoilproductionmayleadtomorecrudeoilexportsthisyear,shesaid.  ItisoftensaidthattheUnitedStatesexperiencestradedeficitsinpartbecauseoflowwagesabroadandbecauseforeigngovernmentsunfairlysubsidizecertainindustries,therebycreatingan"unlevelplayingfield".TheobjectivehereistoexplainwhyU.S.tradedeficitswillnotimproveatallasadirectconsequenceofhigherimporttariffs.Thesameistrueifforeigngovernmentsstophelpingfavoredindustries.Acountry'scurrentaccountisdefinedasthesumof:(a)thebalanceoftradeinmerchandiseandservices;(b)netfactorincome(whatAmericanworkers,firmsandinvestorsearnabroadminuswhatforeignworkers,firmsandinvestorsearnintheU.S.);and(c)netinternationaltransferpayments(giftstheU.S.receivesminusAmericangiftstoforeigners,includingforeignaid).Inrecentyears,item(b)hasbeenasmallpositive(aboutbillionperyear)anditem(c)hasbeennegativeofabitmorethanbillionperyear.Thus,items(b)and(c)tendtooffseteachother,implyingthattheU.S.currentaccounthasbeennegativeprimarilybecauseoftradedeficits.Thelatter,inturn,hasexistedbecauselargemerchandisetradedeficitsareonlypartiallyoffsetbyarelativelysmallersurpluswithregardtotradeinservices.Internationaleconomictextbooksexplainthatthecurrentaccountforacountryequalstotalincomeinthatcountry,calledgrossnationalincome(GNI)minustotalexpenditureinthatcountry,grossnationalexpenditure(GNE).Conceptually,acurrentaccountimbalanceissimilartoabudgetsurplusordeficitforanindividual.Thisfactprovidesaneasilyunderstoodanalogywithregardtotheunderlyingcauseofcurrentaccountortradebalancedeficits.Furthermore,itshedslightonthemistakenideathatimporttariffsand/orinducingforeigngovernmentsto"playfair"willimprovetheU.S.tradebalance.Supposeyouhaveajobthatpaysyou,000peryearaftertaxes,butyouspend,000eachyear.Thus,youhaveabudgetdeficitof,000everyyear.Assumealsothatyoubuyalmosteverythingfromafewstoresthathaveverylowpricesbecausetheypayexceptionallylowwages.Itwouldbesillytoblameyourbudgetdeficitsonthefactthatsomestorespaylowwages.Yourbudgetdeficitsrisebecauseyouwanttohaveahigherstandardoflivingthanyourincomeallows—plainandsimple.Ifthegovernmentleviesahighsalestaxontheproductsfromthelow-wagestores,butnotonproductsfromotherstores,thiswillnotinitselfaffectyourbudgetdeficits.Youwillsimplybuylessfromthelow-wagestoresandmorefromothersellers.Thesameconclusionholdsifthegovernmentweretolevyahighsalestaxonproductsfromallstores.Yourbudgetdeficitwouldcontinuetopersistunlessthehigherpricesforallproductsinduceyoutostoptryingtolivebeyondyourmeans.Indeed,ifyouweredeterminedtomaintainyour"highlivingstyle"afterthehighsalestaxeswerelevied,thenyouwouldhavetospendmorethanever,therebyincreasingyourbudgetdeficit.Similarly,theunderlyingcauseofU.S.tradebalanceandcurrentaccountdeficitsisthatAmericans(includinghouseholds,firmsandgovernmentsatalllevels)spendmorethantotalincomeincomesintheU.S.Allhouseholdscombinedspendlessthantheirtotalincomes,i.e.,thehouseholdsectorisanetsaver.However,U.S.householdssaveamuchlowerpercentageoftheirincomesthanmostaffluentcountries.Forexample,historicallytheJapanesehavesavedmorethan20percentoftheirincomes,therebygeneratingtheirpersistenttradesurpluses.ItiswellknownthattheU.S.governmenthaspersistentlylargebudgetdeficits.Thatis,totaloutlays(governmentpurchasesplustransferpayments)consistentlyexceedgrossfederalgovernmenttaxrevenue.Apparently,Americanswantthefederalgovernmenttobuyandgiveawaymorethantheyarewillingtopayforviataxes.Atasuperficiallevel,itappearsasthoughtheU.S.currentaccountandtradedeficitsarecausedbythefederalgovernmentbudgetdeficits.However,ifhouseholdssavedsignificantlymore,thiscouldoffsetthegovernmentbudgetdeficitsandconceivablygenerateabalancebetweenexportsandimports.TherecentgovernmentplanstoimprovetheU.S.'tradeandcurrentaccountdeficitsbyperhapsimposinghightariffsonimportsfromafewcountries(suchasMexicoandChina)isequivalenttotryingtofixyourbudgetdeficitbyimposingahighsalestaxonlow-wagefirms.Thissimplywillnotwork!Thesameistrueifthegovernmentlevieshightariffsonallimports.WhatabouttheargumentthatexcessiveimportsintoAmericaarecaused,inpart,becauseforeigngovernmentsunfairlyhelptheirfirms,therebyenablingthemtosellatrelativelylowpricesTotheextentthatunfaircompetitionexists,thisharmstheAmericanfirmsandworkerswhocompetewiththesubsidizedforeignfirms.However,suchactionsdonotaffecttheoverallsizeofU.S.currentaccountdeficits.Ifallunfairinternationalcompetitiondisappeared,thiswouldincreasethepricesAmericanspayforsomeimports,buttheoverallU.S.tradebalancewouldnotimproveunlessAmericanssay:"Well…nowthatimportsaremoreexpensive,maybeweshouldstartlivingwithinourmeans.Let'sbuylessandsavemore.Also,let'svoteforpoliticianswhowillspendlessandtaxusmore!"Alogicalquestionis"butifU.S.importsdecreasebecausetariffsand/ora'levelplayingfield'makeimportsmoreexpensive,thenwhywon'tthetradedeficitgetsmaller"Theansweristhatimportswillimproveinitially,butthiswillcausethedollartoappreciateinforeigncurrencymarkets.This,inturn,will(a)partiallyoffsetanincreaseinimportpricesfromtariffsand(b)increasetheforeigncurrencypricesofU.S.exports.(Ifittakesmoreyuan,yenoreurostobuyonedollar,thenitalsowilltakemoreforeigncurrencyunitstobuyU.S.products.)Theoverallneteffectofhigherimporttariffsandtheappreciationofthedollarwillbefewerimports,butexportswilldecreasebythesamevalue.IftheobjectiveistoreducetheU.S.tradedeficit,thentheenemyisnotcheapforeignlabororunfairforeigncompetition.Theenemyisus!Americaneedstostoplivingbeyonditsmeans.TheonlywaytoimprovetheU.S.currentaccountandtradebalanceisto:(a)getAmericanstosaveahigherpercentageoftheirincomesand/or(b)reducegovernmentbudgetdeficits.TheauthorNormanC.MillerisprofessorofeconomicsatMiamiUniversityinOxford,Ohio.  China'snaturalgasimports,whichcurrentlyaccountformorethan30percentofdomesticconsumption,willcontinuetoriseandboostSino-U.S.energytradewhilechangingtheglobalmarketpattern,expertssaid.Thenation'sgrowingdemandfornaturalgas,underapolicytoreplacepollutingcoalwithcleannaturalgastocombatairpollution,issettoattractmoreenergymajorsworldwidetomeetthedemand,whileamorediversifiedandflexiblenaturalgasimportchannelwillalsohelpensurenationalenergysecurity,saidLiLi,researchdirectoratenergyconsultingcompanyICISChina.Record-highoiloutputintheUSandsurgingdemandforgasinChinahavebeenamainstayforglobalenergytrade,shesaid.Ifthetwocountriescandeepencooperationinthefieldsofenergyinvestmentandtrade,itwillbeawin-winforbothsides,whichplaycomplementaryrolesasproducersandexportersofoilandgas,sheadded.WangLu,anAsia-PacificoilandgasanalystatBloombergIntelligence,echoedsimilarviewsandsaidsolutionstoreducetheU.S.deficitwithChinaexistdespitetradedisputes.Thoughitcan'tclosethegap,increasingexportsofLNGtoChinacouldreducetheUSdeficitwithChina,shesaid.AccordingtoBloombergIntelligence,theUS,whichwasChina'sfifth-largestLNGsupplierandexported1.53millionmetrictonsofLNGtothecountrylastyear,mayincreaseLNGexportstoChina,whichshouldmarginallyreducethetradedeficit.Thecountry'senergycompaniesareallrushingtomeetthedemanddrivenbyChina'srapidlygrowingthirstfornaturalgas.PetroChinasigneda25-yearpurchasecontractwithHouston,Texas-basedCheniereEnergyinFebruaryfor1.2tonsperannumofLNG.PrivatecompaniesincludingGuanghuiEnergyandENNGrouphavejoinedState-ownedCNOOC,PetroChinaandSinopecintheLNGreceivingterminalsbusiness,increasingchannelsforspotLNGimports.BloombergIntelligencefiguresshowlastyear'sLNGtradewiththeU.S.wasworthabout4million,lessthan0.2percentofthetradegapof5billion.WhileU.S.CommerceSecretaryWilburRossencouragesChinatoimportmoreLNGtoreducethedeficit,thecontributionwouldbemarginal.Inadditiontothecleanfuel,WangestimatedthatChinamaybuymoreU.S.oil,extendinglastyear'strendandmarginallyreducingthetradedeficit.FiguresofBloombergIntelligenceshowU.S.crude-oilexportstoChinatotaled.4billionin2017,calculatedbymultiplyingmonthlyaverageWITpricesandtradedbarrels.That's1.2percentoflastyear's5billiontradedeficit.TheU.S.EnergyInformationAdministrationliftedthe2018averageU.S.crudeoilproductionforecasttoarecord10.7millionbarrelsaday.Therecord-highoilproductionmayleadtomorecrudeoilexportsthisyear,shesaid.  TheconsensusesreachedduringeconomicandtradeconsultationsbetweenChinaandtheUnitedStatesmeettheinterestsofthepeopleofthetwocountriesandwholeworld,ChineseVicePremierLiuHesaidonMonday.Liu,justreturnedfromtheUnitedstates,referredtothetalksas"positive,pragmatic,andproductive"withsomeimportantconsensusesreached.ThevicepremiermadetheremarkswhilemeetingsomeattendeesatthefourthChina-U.S.governors'forum.Liuexpressedhopethatthetwosideswouldtaketheforumasanopportunitytofurtheradvanceall-roundpragmaticcooperationatthelocallevelandpromotestableandsounddevelopmentofbilateralties.BillWalker,governorofAlaskaandJohnSanchez,lieutenantgovernorofNewMexico,wereamongattendeesattheforum.TheytoldLiuthatthewholeworldiscelebratingfortheconsensusesreachedbetweenChinaandtheUnitedStatesoneconomicandtradeissues.TheypledgedtofurtherstrengthencooperationwithChinainsuchareasastrade,investment,greendevelopmentandpeople-to-peopleexchangesatthelocallevel,soastomakepositivecontributiontobilateralties.AlsoMonday,ForeignMinistryspokespersonLuKangtoldadailynewsbriefingthatChinaexpectsnofurtherreversalsintradeandeconomictieswiththeUnitedStates."Ifthegovernmentsofthetwocountriesreachagoodagreementandresultsthatareacceptabletoboth,theyshouldsticktotheagreement.Ofcourse,wedonotwanttoseeanyreversal,"saidLu.Basedontheexperiencesofthepastfourdecades,thefundamentalreasonwhybothnationshavebeenabletomanagedisputeshasbeenthattherelationshipisinthebestinterestofbothcountriesandtheirpeople,headded."WehopethattheChina-U.S.tradeandeconomicrelations,whicharemutuallybeneficialandwin-wininnature,willplayamoreeffectiverole,"saidthespokesperson.  

China'snaturalgasimports,whichcurrentlyaccountformorethan30percentofdomesticconsumption,willcontinuetoriseandboostSino-U.S.energytradewhilechangingtheglobalmarketpattern,expertssaid.Thenation'sgrowingdemandfornaturalgas,underapolicytoreplacepollutingcoalwithcleannaturalgastocombatairpollution,issettoattractmoreenergymajorsworldwidetomeetthedemand,whileamorediversifiedandflexiblenaturalgasimportchannelwillalsohelpensurenationalenergysecurity,saidLiLi,researchdirectoratenergyconsultingcompanyICISChina.Record-highoiloutputintheUSandsurgingdemandforgasinChinahavebeenamainstayforglobalenergytrade,shesaid.Ifthetwocountriescandeepencooperationinthefieldsofenergyinvestmentandtrade,itwillbeawin-winforbothsides,whichplaycomplementaryrolesasproducersandexportersofoilandgas,sheadded.WangLu,anAsia-PacificoilandgasanalystatBloombergIntelligence,echoedsimilarviewsandsaidsolutionstoreducetheU.S.deficitwithChinaexistdespitetradedisputes.Thoughitcan'tclosethegap,increasingexportsofLNGtoChinacouldreducetheUSdeficitwithChina,shesaid.AccordingtoBloombergIntelligence,theUS,whichwasChina'sfifth-largestLNGsupplierandexported1.53millionmetrictonsofLNGtothecountrylastyear,mayincreaseLNGexportstoChina,whichshouldmarginallyreducethetradedeficit.Thecountry'senergycompaniesareallrushingtomeetthedemanddrivenbyChina'srapidlygrowingthirstfornaturalgas.PetroChinasigneda25-yearpurchasecontractwithHouston,Texas-basedCheniereEnergyinFebruaryfor1.2tonsperannumofLNG.PrivatecompaniesincludingGuanghuiEnergyandENNGrouphavejoinedState-ownedCNOOC,PetroChinaandSinopecintheLNGreceivingterminalsbusiness,increasingchannelsforspotLNGimports.BloombergIntelligencefiguresshowlastyear'sLNGtradewiththeU.S.wasworthabout4million,lessthan0.2percentofthetradegapof5billion.WhileU.S.CommerceSecretaryWilburRossencouragesChinatoimportmoreLNGtoreducethedeficit,thecontributionwouldbemarginal.Inadditiontothecleanfuel,WangestimatedthatChinamaybuymoreU.S.oil,extendinglastyear'strendandmarginallyreducingthetradedeficit.FiguresofBloombergIntelligenceshowU.S.crude-oilexportstoChinatotaled.4billionin2017,calculatedbymultiplyingmonthlyaverageWITpricesandtradedbarrels.That's1.2percentoflastyear's5billiontradedeficit.TheU.S.EnergyInformationAdministrationliftedthe2018averageU.S.crudeoilproductionforecasttoarecord10.7millionbarrelsaday.Therecord-highoilproductionmayleadtomorecrudeoilexportsthisyear,shesaid.  TheconsensusesreachedduringeconomicandtradeconsultationsbetweenChinaandtheUnitedStatesmeettheinterestsofthepeopleofthetwocountriesandwholeworld,ChineseVicePremierLiuHesaidonMonday.Liu,justreturnedfromtheUnitedstates,referredtothetalksas"positive,pragmatic,andproductive"withsomeimportantconsensusesreached.ThevicepremiermadetheremarkswhilemeetingsomeattendeesatthefourthChina-U.S.governors'forum.Liuexpressedhopethatthetwosideswouldtaketheforumasanopportunitytofurtheradvanceall-roundpragmaticcooperationatthelocallevelandpromotestableandsounddevelopmentofbilateralties.BillWalker,governorofAlaskaandJohnSanchez,lieutenantgovernorofNewMexico,wereamongattendeesattheforum.TheytoldLiuthatthewholeworldiscelebratingfortheconsensusesreachedbetweenChinaandtheUnitedStatesoneconomicandtradeissues.TheypledgedtofurtherstrengthencooperationwithChinainsuchareasastrade,investment,greendevelopmentandpeople-to-peopleexchangesatthelocallevel,soastomakepositivecontributiontobilateralties.AlsoMonday,ForeignMinistryspokespersonLuKangtoldadailynewsbriefingthatChinaexpectsnofurtherreversalsintradeandeconomictieswiththeUnitedStates."Ifthegovernmentsofthetwocountriesreachagoodagreementandresultsthatareacceptabletoboth,theyshouldsticktotheagreement.Ofcourse,wedonotwanttoseeanyreversal,"saidLu.Basedontheexperiencesofthepastfourdecades,thefundamentalreasonwhybothnationshavebeenabletomanagedisputeshasbeenthattherelationshipisinthebestinterestofbothcountriesandtheirpeople,headded."WehopethattheChina-U.S.tradeandeconomicrelations,whicharemutuallybeneficialandwin-wininnature,willplayamoreeffectiverole,"saidthespokesperson.  ItisoftensaidthattheUnitedStatesexperiencestradedeficitsinpartbecauseoflowwagesabroadandbecauseforeigngovernmentsunfairlysubsidizecertainindustries,therebycreatingan"unlevelplayingfield".TheobjectivehereistoexplainwhyU.S.tradedeficitswillnotimproveatallasadirectconsequenceofhigherimporttariffs.Thesameistrueifforeigngovernmentsstophelpingfavoredindustries.Acountry'scurrentaccountisdefinedasthesumof:(a)thebalanceoftradeinmerchandiseandservices;(b)netfactorincome(whatAmericanworkers,firmsandinvestorsearnabroadminuswhatforeignworkers,firmsandinvestorsearnintheU.S.);and(c)netinternationaltransferpayments(giftstheU.S.receivesminusAmericangiftstoforeigners,includingforeignaid).Inrecentyears,item(b)hasbeenasmallpositive(aboutbillionperyear)anditem(c)hasbeennegativeofabitmorethanbillionperyear.Thus,items(b)and(c)tendtooffseteachother,implyingthattheU.S.currentaccounthasbeennegativeprimarilybecauseoftradedeficits.Thelatter,inturn,hasexistedbecauselargemerchandisetradedeficitsareonlypartiallyoffsetbyarelativelysmallersurpluswithregardtotradeinservices.Internationaleconomictextbooksexplainthatthecurrentaccountforacountryequalstotalincomeinthatcountry,calledgrossnationalincome(GNI)minustotalexpenditureinthatcountry,grossnationalexpenditure(GNE).Conceptually,acurrentaccountimbalanceissimilartoabudgetsurplusordeficitforanindividual.Thisfactprovidesaneasilyunderstoodanalogywithregardtotheunderlyingcauseofcurrentaccountortradebalancedeficits.Furthermore,itshedslightonthemistakenideathatimporttariffsand/orinducingforeigngovernmentsto"playfair"willimprovetheU.S.tradebalance.Supposeyouhaveajobthatpaysyou,000peryearaftertaxes,butyouspend,000eachyear.Thus,youhaveabudgetdeficitof,000everyyear.Assumealsothatyoubuyalmosteverythingfromafewstoresthathaveverylowpricesbecausetheypayexceptionallylowwages.Itwouldbesillytoblameyourbudgetdeficitsonthefactthatsomestorespaylowwages.Yourbudgetdeficitsrisebecauseyouwanttohaveahigherstandardoflivingthanyourincomeallows—plainandsimple.Ifthegovernmentleviesahighsalestaxontheproductsfromthelow-wagestores,butnotonproductsfromotherstores,thiswillnotinitselfaffectyourbudgetdeficits.Youwillsimplybuylessfromthelow-wagestoresandmorefromothersellers.Thesameconclusionholdsifthegovernmentweretolevyahighsalestaxonproductsfromallstores.Yourbudgetdeficitwouldcontinuetopersistunlessthehigherpricesforallproductsinduceyoutostoptryingtolivebeyondyourmeans.Indeed,ifyouweredeterminedtomaintainyour"highlivingstyle"afterthehighsalestaxeswerelevied,thenyouwouldhavetospendmorethanever,therebyincreasingyourbudgetdeficit.Similarly,theunderlyingcauseofU.S.tradebalanceandcurrentaccountdeficitsisthatAmericans(includinghouseholds,firmsandgovernmentsatalllevels)spendmorethantotalincomeincomesintheU.S.Allhouseholdscombinedspendlessthantheirtotalincomes,i.e.,thehouseholdsectorisanetsaver.However,U.S.householdssaveamuchlowerpercentageoftheirincomesthanmostaffluentcountries.Forexample,historicallytheJapanesehavesavedmorethan20percentoftheirincomes,therebygeneratingtheirpersistenttradesurpluses.ItiswellknownthattheU.S.governmenthaspersistentlylargebudgetdeficits.Thatis,totaloutlays(governmentpurchasesplustransferpayments)consistentlyexceedgrossfederalgovernmenttaxrevenue.Apparently,Americanswantthefederalgovernmenttobuyandgiveawaymorethantheyarewillingtopayforviataxes.Atasuperficiallevel,itappearsasthoughtheU.S.currentaccountandtradedeficitsarecausedbythefederalgovernmentbudgetdeficits.However,ifhouseholdssavedsignificantlymore,thiscouldoffsetthegovernmentbudgetdeficitsandconceivablygenerateabalancebetweenexportsandimports.TherecentgovernmentplanstoimprovetheU.S.'tradeandcurrentaccountdeficitsbyperhapsimposinghightariffsonimportsfromafewcountries(suchasMexicoandChina)isequivalenttotryingtofixyourbudgetdeficitbyimposingahighsalestaxonlow-wagefirms.Thissimplywillnotwork!Thesameistrueifthegovernmentlevieshightariffsonallimports.WhatabouttheargumentthatexcessiveimportsintoAmericaarecaused,inpart,becauseforeigngovernmentsunfairlyhelptheirfirms,therebyenablingthemtosellatrelativelylowpricesTotheextentthatunfaircompetitionexists,thisharmstheAmericanfirmsandworkerswhocompetewiththesubsidizedforeignfirms.However,suchactionsdonotaffecttheoverallsizeofU.S.currentaccountdeficits.Ifallunfairinternationalcompetitiondisappeared,thiswouldincreasethepricesAmericanspayforsomeimports,buttheoverallU.S.tradebalancewouldnotimproveunlessAmericanssay:"Well…nowthatimportsaremoreexpensive,maybeweshouldstartlivingwithinourmeans.Let'sbuylessandsavemore.Also,let'svoteforpoliticianswhowillspendlessandtaxusmore!"Alogicalquestionis"butifU.S.importsdecreasebecausetariffsand/ora'levelplayingfield'makeimportsmoreexpensive,thenwhywon'tthetradedeficitgetsmaller"Theansweristhatimportswillimproveinitially,butthiswillcausethedollartoappreciateinforeigncurrencymarkets.This,inturn,will(a)partiallyoffsetanincreaseinimportpricesfromtariffsand(b)increasetheforeigncurrencypricesofU.S.exports.(Ifittakesmoreyuan,yenoreurostobuyonedollar,thenitalsowilltakemoreforeigncurrencyunitstobuyU.S.products.)Theoverallneteffectofhigherimporttariffsandtheappreciationofthedollarwillbefewerimports,butexportswilldecreasebythesamevalue.IftheobjectiveistoreducetheU.S.tradedeficit,thentheenemyisnotcheapforeignlabororunfairforeigncompetition.Theenemyisus!Americaneedstostoplivingbeyonditsmeans.TheonlywaytoimprovetheU.S.currentaccountandtradebalanceisto:(a)getAmericanstosaveahigherpercentageoftheirincomesand/or(b)reducegovernmentbudgetdeficits.TheauthorNormanC.MillerisprofessorofeconomicsatMiamiUniversityinOxford,Ohio.  

China'snaturalgasimports,whichcurrentlyaccountformorethan30percentofdomesticconsumption,willcontinuetoriseandboostSino-U.S.energytradewhilechangingtheglobalmarketpattern,expertssaid.Thenation'sgrowingdemandfornaturalgas,underapolicytoreplacepollutingcoalwithcleannaturalgastocombatairpollution,issettoattractmoreenergymajorsworldwidetomeetthedemand,whileamorediversifiedandflexiblenaturalgasimportchannelwillalsohelpensurenationalenergysecurity,saidLiLi,researchdirectoratenergyconsultingcompanyICISChina.Record-highoiloutputintheUSandsurgingdemandforgasinChinahavebeenamainstayforglobalenergytrade,shesaid.Ifthetwocountriescandeepencooperationinthefieldsofenergyinvestmentandtrade,itwillbeawin-winforbothsides,whichplaycomplementaryrolesasproducersandexportersofoilandgas,sheadded.WangLu,anAsia-PacificoilandgasanalystatBloombergIntelligence,echoedsimilarviewsandsaidsolutionstoreducetheU.S.deficitwithChinaexistdespitetradedisputes.Thoughitcan'tclosethegap,increasingexportsofLNGtoChinacouldreducetheUSdeficitwithChina,shesaid.AccordingtoBloombergIntelligence,theUS,whichwasChina'sfifth-largestLNGsupplierandexported1.53millionmetrictonsofLNGtothecountrylastyear,mayincreaseLNGexportstoChina,whichshouldmarginallyreducethetradedeficit.Thecountry'senergycompaniesareallrushingtomeetthedemanddrivenbyChina'srapidlygrowingthirstfornaturalgas.PetroChinasigneda25-yearpurchasecontractwithHouston,Texas-basedCheniereEnergyinFebruaryfor1.2tonsperannumofLNG.PrivatecompaniesincludingGuanghuiEnergyandENNGrouphavejoinedState-ownedCNOOC,PetroChinaandSinopecintheLNGreceivingterminalsbusiness,increasingchannelsforspotLNGimports.BloombergIntelligencefiguresshowlastyear'sLNGtradewiththeU.S.wasworthabout4million,lessthan0.2percentofthetradegapof5billion.WhileU.S.CommerceSecretaryWilburRossencouragesChinatoimportmoreLNGtoreducethedeficit,thecontributionwouldbemarginal.Inadditiontothecleanfuel,WangestimatedthatChinamaybuymoreU.S.oil,extendinglastyear'strendandmarginallyreducingthetradedeficit.FiguresofBloombergIntelligenceshowU.S.crude-oilexportstoChinatotaled.4billionin2017,calculatedbymultiplyingmonthlyaverageWITpricesandtradedbarrels.That's1.2percentoflastyear's5billiontradedeficit.TheU.S.EnergyInformationAdministrationliftedthe2018averageU.S.crudeoilproductionforecasttoarecord10.7millionbarrelsaday.Therecord-highoilproductionmayleadtomorecrudeoilexportsthisyear,shesaid.  China'snaturalgasimports,whichcurrentlyaccountformorethan30percentofdomesticconsumption,willcontinuetoriseandboostSino-U.S.energytradewhilechangingtheglobalmarketpattern,expertssaid.Thenation'sgrowingdemandfornaturalgas,underapolicytoreplacepollutingcoalwithcleannaturalgastocombatairpollution,issettoattractmoreenergymajorsworldwidetomeetthedemand,whileamorediversifiedandflexiblenaturalgasimportchannelwillalsohelpensurenationalenergysecurity,saidLiLi,researchdirectoratenergyconsultingcompanyICISChina.Record-highoiloutputintheUSandsurgingdemandforgasinChinahavebeenamainstayforglobalenergytrade,shesaid.Ifthetwocountriescandeepencooperationinthefieldsofenergyinvestmentandtrade,itwillbeawin-winforbothsides,whichplaycomplementaryrolesasproducersandexportersofoilandgas,sheadded.WangLu,anAsia-PacificoilandgasanalystatBloombergIntelligence,echoedsimilarviewsandsaidsolutionstoreducetheU.S.deficitwithChinaexistdespitetradedisputes.Thoughitcan'tclosethegap,increasingexportsofLNGtoChinacouldreducetheUSdeficitwithChina,shesaid.AccordingtoBloombergIntelligence,theUS,whichwasChina'sfifth-largestLNGsupplierandexported1.53millionmetrictonsofLNGtothecountrylastyear,mayincreaseLNGexportstoChina,whichshouldmarginallyreducethetradedeficit.Thecountry'senergycompaniesareallrushingtomeetthedemanddrivenbyChina'srapidlygrowingthirstfornaturalgas.PetroChinasigneda25-yearpurchasecontractwithHouston,Texas-basedCheniereEnergyinFebruaryfor1.2tonsperannumofLNG.PrivatecompaniesincludingGuanghuiEnergyandENNGrouphavejoinedState-ownedCNOOC,PetroChinaandSinopecintheLNGreceivingterminalsbusiness,increasingchannelsforspotLNGimports.BloombergIntelligencefiguresshowlastyear'sLNGtradewiththeU.S.wasworthabout4million,lessthan0.2percentofthetradegapof5billion.WhileU.S.CommerceSecretaryWilburRossencouragesChinatoimportmoreLNGtoreducethedeficit,thecontributionwouldbemarginal.Inadditiontothecleanfuel,WangestimatedthatChinamaybuymoreU.S.oil,extendinglastyear'strendandmarginallyreducingthetradedeficit.FiguresofBloombergIntelligenceshowU.S.crude-oilexportstoChinatotaled.4billionin2017,calculatedbymultiplyingmonthlyaverageWITpricesandtradedbarrels.That's1.2percentoflastyear's5billiontradedeficit.TheU.S.EnergyInformationAdministrationliftedthe2018averageU.S.crudeoilproductionforecasttoarecord10.7millionbarrelsaday.Therecord-highoilproductionmayleadtomorecrudeoilexportsthisyear,shesaid.  China'snaturalgasimports,whichcurrentlyaccountformorethan30percentofdomesticconsumption,willcontinuetoriseandboostSino-U.S.energytradewhilechangingtheglobalmarketpattern,expertssaid.Thenation'sgrowingdemandfornaturalgas,underapolicytoreplacepollutingcoalwithcleannaturalgastocombatairpollution,issettoattractmoreenergymajorsworldwidetomeetthedemand,whileamorediversifiedandflexiblenaturalgasimportchannelwillalsohelpensurenationalenergysecurity,saidLiLi,researchdirectoratenergyconsultingcompanyICISChina.Record-highoiloutputintheUSandsurgingdemandforgasinChinahavebeenamainstayforglobalenergytrade,shesaid.Ifthetwocountriescandeepencooperationinthefieldsofenergyinvestmentandtrade,itwillbeawin-winforbothsides,whichplaycomplementaryrolesasproducersandexportersofoilandgas,sheadded.WangLu,anAsia-PacificoilandgasanalystatBloombergIntelligence,echoedsimilarviewsandsaidsolutionstoreducetheU.S.deficitwithChinaexistdespitetradedisputes.Thoughitcan'tclosethegap,increasingexportsofLNGtoChinacouldreducetheUSdeficitwithChina,shesaid.AccordingtoBloombergIntelligence,theUS,whichwasChina'sfifth-largestLNGsupplierandexported1.53millionmetrictonsofLNGtothecountrylastyear,mayincreaseLNGexportstoChina,whichshouldmarginallyreducethetradedeficit.Thecountry'senergycompaniesareallrushingtomeetthedemanddrivenbyChina'srapidlygrowingthirstfornaturalgas.PetroChinasigneda25-yearpurchasecontractwithHouston,Texas-basedCheniereEnergyinFebruaryfor1.2tonsperannumofLNG.PrivatecompaniesincludingGuanghuiEnergyandENNGrouphavejoinedState-ownedCNOOC,PetroChinaandSinopecintheLNGreceivingterminalsbusiness,increasingchannelsforspotLNGimports.BloombergIntelligencefiguresshowlastyear'sLNGtradewiththeU.S.wasworthabout4million,lessthan0.2percentofthetradegapof5billion.WhileU.S.CommerceSecretaryWilburRossencouragesChinatoimportmoreLNGtoreducethedeficit,thecontributionwouldbemarginal.Inadditiontothecleanfuel,WangestimatedthatChinamaybuymoreU.S.oil,extendinglastyear'strendandmarginallyreducingthetradedeficit.FiguresofBloombergIntelligenceshowU.S.crude-oilexportstoChinatotaled.4billionin2017,calculatedbymultiplyingmonthlyaverageWITpricesandtradedbarrels.That's1.2percentoflastyear's5billiontradedeficit.TheU.S.EnergyInformationAdministrationliftedthe2018averageU.S.crudeoilproductionforecasttoarecord10.7millionbarrelsaday.Therecord-highoilproductionmayleadtomorecrudeoilexportsthisyear,shesaid.  

日中商报:日本华侨华人欢聚一堂 共庆新中国成立70周年#标题分割#  庆祝晚宴在庄严肃穆的国歌声中拉开帷幕。  参加晚宴的有:中国驻日本国大使馆特命全权大使孔铉佑大使,中国驻日本国大使馆领事部参事官兼总领事詹孔朝,驻横滨大韩民国总领事馆领事韩相赫,神奈川县副知事首藤健治,横滨市副市长渡边巧教,日中友好横滨市会议员会长佐藤茂、横滨市会议员田野井一雄、福岛直子、松本研,横滨市中区区长竹前大,东京华侨总会会长林斯福,日本中国友好协会神奈川县联合会会长大森猛,在日本朝鲜人总联合会神奈川县本部委员长高行秀,一般社团法人神奈川县日本中国友好协会会长並木裕之在内的中日各界友好人士出席了本次庆典晚宴。日本华侨华人代表、中资机构代表,民间团体共同为祖国送上祝福。  首先由主办方横滨华侨总会谭优矢副会长带读会長王忠福的国庆致辞。  中国驻日本国特命全权大使孔铉佑大使致辞。日中商报:日本华侨华人欢聚一堂 共庆新中国成立70周年#标题分割#  庆祝晚宴在庄严肃穆的国歌声中拉开帷幕。  参加晚宴的有:中国驻日本国大使馆特命全权大使孔铉佑大使,中国驻日本国大使馆领事部参事官兼总领事詹孔朝,驻横滨大韩民国总领事馆领事韩相赫,神奈川县副知事首藤健治,横滨市副市长渡边巧教,日中友好横滨市会议员会长佐藤茂、横滨市会议员田野井一雄、福岛直子、松本研,横滨市中区区长竹前大,东京华侨总会会长林斯福,日本中国友好协会神奈川县联合会会长大森猛,在日本朝鲜人总联合会神奈川县本部委员长高行秀,一般社团法人神奈川县日本中国友好协会会长並木裕之在内的中日各界友好人士出席了本次庆典晚宴。日本华侨华人代表、中资机构代表,民间团体共同为祖国送上祝福。  首先由主办方横滨华侨总会谭优矢副会长带读会長王忠福的国庆致辞。  中国驻日本国特命全权大使孔铉佑大使致辞。




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