tee steady business growth. In the future, we will increase investment in AI applications in the finance and manu
facturing sector, enhance our AI technology, such as machine learning, natural language processing and deep learning, consolidate customer rela
tionships, as well as cultivate the new generation of AI talent for China,” He from SAS China said.
Since World War II, globalization came in two stages. From 1945 to roughly 1975, the United States, Western Europe, and Japan
achieved steady economic growth, with the benefits of that growth spread widely throughout the population. In F
rance, this period is called “30 glorious years” and in Germany it is known as the “economic miracle”.
The second stage of globalization started in the late 1970s and has continued until today with a process of reform and open
ing-up not only in China but in countries of the former Soviet Union and in India.
This has been great for the world. China alone has lifted more than 850 million peopl
e out of dire poverty. But it has also increased competition faced by workers and companies.
The partial globalization of 1945-1975 worked great for average workers in the West. For much of this period, a young perso
n could get a high-paying and apparently secure job in a factory that would allow him to live a middle-income lifestyle.
It’s very hard to believe now, but in 1980, the US city with the highest average wage was Flint, Michigan, followed closely by Detroi
t. Other leading cities in terms of wages were Chicago, Houston, Milwaukee, Youngstown and Cleveland – all
of which were centers of industry and manufacturing. At that time, San Jose, the center of then quite small Silicon V
alley was fourth, San Francisco sixth, and capital Washington was eighth. New York City did not make the top 10.
Many people in the US and Western Europe look back nostalgically on those 30 years aft
er WWII when artificial limits on global competition protected extremely high-paying manufacturing jo
bs. It is very sad to see only empty, rusting factories where thousands of people used to work.
It’s tempting to use tariffs or other protectionist measures to try to
retain the companies that provide these high-paying manufacturing jobs. But, most o
ften the protections just lead to unproductive companies, declining innovation, and slowing GDP growth.
hina Petrole上海会所品茶微信um and Chemical Corp, the world’s larg
est refiner by volume, has agreed to establish a joint venture with Russia’s Novatek and Gazp
rombank to market natural and liquefied natural gas (LNG) in China, Sinopec said on Thursday.
The agreement, which aims to sell LNG produced by Novatek in the Arctic, was signed fo
llowing talks in Moscow between Russian President, Vladimir Putin, and Chinese President, Xi Jinping.
The agreement will be of considerable economic and social benefit an
d will further diversify China’s natural gas imports, while meeting ever-increasing ga
s demand in the country, said Dai Houliang, China Petrochemical Corp president.
Use of new tec上海会所品茶微信hnologies in online education is breaking boundaries for the nation’s students
Yang Ming, a 33-year-old immobile and partially sighted man from
Chengde, Hebei province, never imagined he could become his family’s “financial adviser”.
However, in late April, he noticed trouble brewing in the financial stat
ements of a company whose stock was owned by his relatives, so he advised selling the shares.
Although they were reluctant at first, his relatives sol上海会所品茶微信d the s
hares at a slight loss, but kept most of their 4,000 yuan ($578) investment intact.
A short time later, the company’s stock went into free fall when the Shanghai Stock Exchange plunged as a result of risi
ng uncertainty over trade negotiations between China and the United States.
hina is drafting a list of foreign parties considered “unreliable enti
ties” that harm the interests of Chinese companies, said the Ministry of Commerce on Friday.
Detailed measures of the plan are to be disclosed at a later date.
The list will target companies, people and organizations that fail to abide by market rules, violate th
e spirit of contract, block Chinese companies for non-commercial reasons, and severely violate Chinese co
mpanies’ legitimate rights, said Gao Feng, the ministry’s spokesman, in a media briefing on Friday.
“Due to the increasing uncertainties in the global economy, including
the rising trade protectionism and unilateralism, the multilateral trading system is facing s
evere challenges and regular international commercial activities have been disrupted,” Gao said.