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Given that the US economy is driven by domestic demand, consumption in particular, instead of exports, a high rate of eco
nomic growth will widen the trade deficit, as it would have to import more products than it exports. In such a situa
tion, the implementation of large-scale infrastructure construction projects would further increase the trade deficit.
To make up for the increasing savings gap, the US needs to introduce and use more foreign ca
pital, which will further enlarge the trade deficit. Therefore, the US cannot simultaneously maintain a high g
rowth rate, invest massively in infrastructure, reduce the trade deficit and restrict the inflow of foreign capital.
What is really questionable is that, despite its contempt for over-regulation of the economy, the US administration has been tryi
ng to impose regulations on international trade, even for its trade partners’ domestic economic management.
ew stage of preparation for the Games,” said Chen Jining, mayor of Beijin
g and executive president of the 2022 Winter Olympics Organizing Committee. “We will end
eavor to deliver a fantastic, extraordinary and excellent Olympic and Paralympic Winter Games.”
The 1,000-day countdown — launched near the iconic Bird’s Nest and the
Water Cube, both 2008 venues — underlined Beijing’s focus on sustainability in prepa
ring a second time for an Olympic extravaganza by reusing existing resources built for the Summer Games.
According to the 2022 Winter Olympics organizing committee, 11 of the 13 v
enues needed in Beijing’s downtown, where all ice sports will be staged, will use existing faciliti
es built for 2008. Repurposing projects, such as transforming the Water Cube (which hosted swimming in 2008) into a
curling arena by filling the pool with steel structures and making ice on the surface, are well underway.
President says gathering sets stage for more Belt and Road progress, cooperation
More than $64 billion in deals were signed during the Second Belt a
nd Road Forum for International Cooperation, President Xi Jinping told members of the me
dia from home and abroad in Beijing after the three-day event concluded on Saturday.
In addition, Xi said, during the preparation and holding of the fo
rum, parties reached 283 pragmatic outcomes, including intergovernmental cooperation agre
ements, cooperative projects and the launch of multilateral cooperation platforms.
The outcomes fully demonstrate that joint building of the Belt and Road conforms to the trend of the times, wi
nning the hearts of the people, improving livelihoods and benefiting the whole world, he said.