standing of the pros and cons of rural reconstruction through their work were also invited to hold a dialogue with the writers, which resonated so strongly with the
villagers that some of them surrounded the speakers afterward hoping to expand their discussions.
He Wei, assistant professor at the school of architecture at the Central Academy of Fine Arts in Beijing, w
ho has been leading several projects in the countryside, thinks a major problem is the conflicting demands between the elite class
of city dwellers, who tend to seek spiritual comfort in village life, and the villagers themselves who naturally want to i
mprove their quality of life. However, many of the rural traditions have been lost during the process.
“Once they leave the countryside, it’s hard for people to come back and settle, both in person and spiritually,” he says.
ntries in the region due to joint efforts. The overall situation in the South China Sea is stable and becoming better, Shao said.
“Countries from the region have the will, wisdom and capability to manage differences an
d jointly promote peace, thus transforming the area into a sea of peace, friendship and cooperation,” he said.
On the Korean Peninsula question, China insists on denuclearizin
g the peninsula, and solving issues through dialogue and consultation, Shao said.
“China has consistently, seriously, fully and rigorously implemented the
United Nation’s resolutions regarding the peninsula,” he said. “China also is willing to w
ople. However, neither the US nor China can expect to keep, much less get back, low-wage, low-skilled manufacturing jobs.
Many people have the impression that Chinese goods are dominant in US markets. That is true only in a few highly com
petitive, low-profit sectors. According to US Commerce Department data, China has more than 50 percent of the
US market in such items as umbrellas, toys, prepared feathers, footwear, straw products, and bedding.
Chinese exporters have from 20 to 50 percent of the US market in ot
her low-value-added markets, plus electrical machinery and equipment, mechanical app
liances, and iron and steel. In most other categories, China has less than 20 percent of the US market.
China also assembles and then exports a lot of phones, computers and other gad
gets to the US. But, most of the profits and wages go to Japanese or South Korean componen
World Trade Organization was being negotiated, China’s economy was ti
ny as a portion of world GDP. It was clearly a poor, less-developed country that, except in a f
ew areas, was not able to compete with Western companies in high-value-added products.
As Alexander Hamilton, the first US Treasury secretary, argued, a developing country may need to p
rotect its “infant industries” from already established foreign competitors. This was the policy foll
owed by the US 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 low-wa
ge labor. Fortunately, it has now developed world-class companies that are incre
asingly developing new products and services that can compete successfully in many foreign markets.
Wang Yang, an analyst with Soochow Securities based in Suzhou, Jia
ngsu province, said that apart from the economic recovery underpinned by su
pportive policies, cyclical factors also imply that earnings growth will continue to recover in the rest of the year.
According to Wang, the current profit cycle of A-share companies started from 2
016 and should end with recovery this year, as the cycles usually last for 12 to 14 quarters.
This year’s gradual recovery in earnings growth could help the A-share market to withstan
d external uncertainties, said Yan Xiang, an analyst with Shenzhen-based Guosen Securities.
“It is quite different from 2018 when earnings growth of most companies deteriorated. Earn
ings growth, a determinant of the market trend, is likely to be on the recovery path,” Yan said in a note.