ntal programs and inaugurated several large-scale infrast

projects, including highway, railway, airport and power stations. However, in the face of local protests, the effectiveness of Modi’s economic package, delivered just a few months before the

election, seemed very suspicious. Interestingly, because of the tremendous opposition against the Bill and the frustrating situation on the g

round, BJP’s top local politician who was defending the bill changed his tune almost as soon as Modi left.

Clearly, Modi’s twin election trick, which comprised both nationalistic and developmental ele

ments, was clearly at work during his visit to disputed South Tibet. However, sacrificing the pa

instakingly earned mutual trust and progress in Sino-Indian relations for the sake of ephemeral political benefits seems unwise.

Even though India and China have so far held 21 rounds of talks to resolve the border dispute, and Modi and President Xi have met at least four times in 2018 to bring b

ilateral ties back on a stable footing, the border issue remains the single-most sensitive topic between the two countries. While

the dispute between China and India remains too large to be resolved altogether, both sides would better carefully manage it.

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wasting US’ wealth. In the near future, Washington may no

 assistance to the World Bank and quit the organization. The World Bank is a multilateral institution which was establ

ished under US leadership, and guided by the US Treasury Department. Its heads have traditionally been

appointed by the US government. The World Bank reflected US global strength and was a key instrument for

Washington’s global governance, and increasing its influence as a soft power. However, currently Washington seems to de

molish the structure it built itself by exiting international organizations that signal globalism.

Based on the experiences of the late 20th century, there are several drawbacks of globalism and globalization.

First, globalization enables strong nations to consolidate their d

ominance and lead the international order. It is an instrument that induces weaker states to ob

ey the will of the stronger ones. Globalism is keen on promoting universal values, taking the moral high gr

ound, blaming countries whose actions do not accord with universal values and even intervening militarily in some natio

ns. What does international intervention bring to global politics? It can be explained by hot button issues in Eurasia.

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Second, out of expectations of politicians from powerful

countries, who claim their nations represent public interest, globalism is becoming a tool in the fight between capitalist forces an

d national will. As a result, state power is eroded by capital, leading to alienation and political strains in some countries.

It is believed that some countries cannot bear the negative effects of globalization. The main reason for t

his is that capital is equipped with increasingly powerful characteristics that weaken nations’ capa

bility to control their capital and eliminates sovereign states’ ability to embody the will of the people.

The hit on state power by capital not only leads to financial chaos, triggering financial and economic crise

s, but can also generate social and political woes. Western countries’ easing financial regulations resulted in the 2008 financial c

risis. In recent years, developed countries are experiencing increasing economic and political challenges, which a

ctually are extensions of the 2008 financial crisis. Some of them are yet to be addressed.

Economic liberalization faces challenges in the developed and developing world.

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Xi called China-US ties one of the world’s most importa

nt bilateral relationships, and the two countries have wide common interests and shoulder im

portant responsibilities in safeguarding world peace and promoting global prosperity.

Maintaining the healthy and stable development of the China-US relationship is in line with the fundamen

tal interests of the people of both countries, and it is also the common wish of the international community, Xi said.

Xi mentioned his latest meeting with US President Donald Trump on the sidelines of the G20 Lead

ers Summit in Argentina in December, saying that the two leaders reached important consensuses.

The two countries should promote building stable, cooperative and coordinative China-US relations, Xi said. The two sides s

hould enhance communication, focus on cooperation and handle disputes to promote economic and trade cooperation, Xi added.

The US team expressed the willingness to make joint efforts with the Chinese team to strive for the conclusion of a deal that meets the interests of both sides.

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Tianhe, another name for the galaxy in ancient China, imp

lies that the Chang’e 4 probe served as a pioneer in the history of human lunar exploration.

According to the IAU naming rules, the landing site name has the prefix of Statio in Latin. And so far onl

y two places have such a prefix, the first being the landing site of Apollo 11, Statio Tranquillitatis.

Zhinyu, Hegu and Tianjin are the names of stars in China’s ancient star chart, as the three pits in the lunar crater formed a shape similar to these three celestial bodies.

Mount Tai is one of the five most famous mountains in China in East China’s Shandong province and stands 1,545 me

ters tall above sea level. The central peak, Mons Tai, in the lunar crater measures 1,565 meters in height from its base.

In August 2010 and October 2015, China had applied to name the landing sites of Chang’e 1 and Ch

ang’e 3, and gained approval, and in January this year, China applied to the IAU for the five new names.

So far, a total of 12 lunar features have been named by China.

Naming entities on lunar surfaces started in the 17th century in Europe, and in the 20th century, the U

nited States and the former Soviet Union had the most names due to their lunar explorations.

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tal transformation”, there is already a victory sign coming fro

The country generated about 7.6ZB data last year, around 0.7ZB more than the US, the report said.

In addition, it said data created and replicated in China is expected to outpace the global average by 3 percent annually.

Chinese tech companies, such as Alibaba Group and Tencent Holdings Ltd, h

ave set an example in using data to improve customer service in the financial sector.

The report said Chinese digital payment platforms Alipay and WeChat Pay are able to provide personalize

d financial services tailored to customers’ specific behaviors and preferences with the help of massive user data.

The report also mentioned the use of personal information has raised concerns as data may be utilized to build beh

aving or responding models of users that can be taken advantage of by advertisers or for other purposes.

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Easing likely with slowing of economiespected to move

na may move more toward monetary easing, joining a group of other major economies prone to dovish policy typified by more accommodative measures that stimulate growth, analysts said.

This comes at a time when global central bank governors have become more concerned about an economic slowdown and put tightening measures on hold.

Central bankers in the United States, European Union, Japan and Oceania have had a change in

mood in the past month, given worries that a too tight monetary environment may not cushion the

ir economies from shocks from trade tensions, Brexit and financial vulnerabilities. They sounded the alarm ov

er global uncertainties after the International Monetary Fund downgraded its forecast of the world’s economic growth in January.

With bank governors delivering dovish speeches one after another, the Chinese mo

netary authority is considering an adjustment to financial institutions’ “act

ual” lending rate for companies in order to remove the “obstacle” that constrains credit flowing into the co

untry’s production sector, according to Sun Guofeng, head of the PBOC Monetary Policy Department

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The central bank will eliminate that interest rate margin

sooner or later, and guide commercial banks to lower lending rates closer to a market-determined level, Sun said.

“Theoretically, there is room for rate cuts of 1 percentage point,” said Zhang Tao, a

n analyst in the financial market department of China Construction Bank.

China has enacted both monetary and fiscal policies to offset downward pressure on eco

nomic growth this year. Some economists have predicted the growth rate may slip in the first quarter be

low the 6.4 percent of the past three months of 2018 because of factors such as trade tensions.

US Federal Reserve Chairman Jay Powell decided on Jan 30 to shelve a plan to keep raisi

ng interest rates because of possible risks to US growth. The European Central Bank stopped exp

anding quantitative easing and warned about the negative results of Brexit.

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Talks can produce fresh progress toward a dea ina Daily editorial

It is encouraging that after the deputy-level meetings on Monday and Tuesday

to work out the technical details for an agr

eement — including a mechanism for enforcing any deal — the face-to-face discussions being conducted between d

ecision-makers from both countries are being held amid a general air of optimism.

The negotiations are being led by Chinese Vice-Premier Liu He and US Trade Representative Robert Lighthizer and US Treasury Secr

etary Steven Mnuchin, whose cordial discussions in Washington on Jan 30 and 31 raised hopes that the two s

ides are genuinely doing their utmost to reach an agreement ahead of the March 1 deadline when US tariffs on $

200 billion worth of imports from China are set to rise to 25 percent from 10 percent.

But there are still obstacles to be overcome, and no one should underestimate how daunting a task the two s

ides face trying to resolve all the differences that have long existed between them in one clean sweep.

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hina refutes report of contact with Venezuelan opposition

ina said on Wednesday that it hoped relevant media would report news abiding by principles of being objective and fair.

Chinese Foreign Ministry spokesperson Hua Chunying made the remarks when asked for comments on The Wall Street Jo

urnal reporting that Chinese diplomats had contact with Venezuelan opposition representatives in Washington.

“Recently, some media have been cooking up fake news. I don’t know what the purpose is,” said Hua at a press br

iefing. “We hope relevant media will report news abiding by principles of being objective and fair.”

As for the current Venezuela issue, China advocates seeking a political settlement through dialogue and consultation, Hua said.

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