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The weakening global economic environment will slow down growth in Asia and the Pacific, too, this year, but China, India and Japan are expected to keep up the momentum in the region, says the Economic and Social Survey of Asia-Pacific 2007. The three economies contribute more than 60 percent of the region's GDP and close to 45 percent of its imports, creating considerable opportunities for the whole region, says the survey, to be released today by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). Developing economies in the region grew at 7.9 percent in 2006, up from 7.6 percent in 2005. But their economic growth is projected to slow down to 7.4 percent this year. The decline is mainly because of the unfavorable external environment, including the slowing down of the US economy and falling demand for electronics across the world, says UNESCAP Executive Secretary Kim Hak-Su in a recorded video on the commission's website. The survey shows investment continues to grow in China, while investment and consumption posted healthy gains in the two special administrative regions of Hong Kong and Macao. The survey, however, warns against several downside risks in the region, such as a possible oil price hike, abrupt cooling of the US housing market, vulnerability of the currency, global imbalances and reversal of the Japanese economy after its recovery. To ensure better long-term growth in the region, the survey suggests Asian economies monitor the vulnerability of the currency and boost domestic demand through private investment.

BEIJING, March 27 (Xinhua) -- China's economy would moderate but remain robust in 2008 with a growth rate of 10.7 percent, providing a cushion against the expected international downturn, according to a forecast issued by the United Nations commission here on Thursday.     "Investment continues to be the main driver of growth, remaining resilient despite government cooling measures and with support from low real interest rates," said a report released by the UN Economic and Social Commission for Asia and the Pacific (UNESCAP).     "A slowdown in exports and the country's efforts to cool the economy are the main reasons for the moderation," it said.     Other factors expected to underpin China's growth include domestic demand, increasing spending power of rural consumers and rising consumption through higher government spending on social welfare.     Official statistics show China's gross domestic product growth accelerated to 11.4 percent in 2007, the fastest for 13 years.     The report said the U.S. sub-prime mortgage crisis is not expected to have a strong impact on growth in China.     "In a worst case scenario where the U.S. economy goes into recession, the impact on China will not be as great as on other Asia-Pacific countries. Due to its blistering pace, China's growth will remain resilient, but will slow," said Shuvojit Banerjee, a senior expert with the UNESCAP.     According to the report, China's increasing exports to the European Union are expected to compensate for a steady fall in exports to the United States, China's second largest export market. China has also witnessed a boom in trade with Africa.     It said Chinese and other Asia-Pacific investors are playing a key role in supporting developed countries through the turmoil. Sovereign wealth funds and state investment institutions from the region have bolstered weakened banking sectors in the United States and the Europe.     The report said China is facing an increasing challenge from inflation. The chief inflationary concerns lie in higher international oil and food prices. "Rising food prices are a bigger inflationary concern than oil prices because food accounts for a far higher proportion of consumer spending. Food price inflation particularly hits low income households."     The report also warned that the fast growth is coming at an increasing cost to the environment. It said the destabilizing effect of growth on the environment is becoming more apparent. Air pollution, especially in large cities, is increasing the incidence of lung disease.

BEIJING -- China regrets that the United States requested the World Trade Organization (WTO) to set up a dispute settlement panel to solve the intellectual property rights (IPR) disputes between the two sides.Wang Xinpei, spokesperson of the Ministry of Commerce, made the remarks in a news conference here Thursday.The Chinese government has always been firm in protecting IPR and tried to solve IPR protection problems through dialogues, Wang said.China has detailed and clarified problems raised by the US and showed great sincerity, Wang said.China's laws regarding IPR protection completely meet WTO requirements, Wang said, adding China is opposed to any WTO member's move of making developing members shoulder extra obligations through dispute settlement system, Wang said.China is studying the US request and will act actively, Wang said.The United States on Monday requested the WTO to establish a dispute settlement panel regarding so-called China's deficiencies in intellectual property protection.The US initiated the dispute over the issue by requesting consultations with China on April 10, 2007.Under WTO rules, the WTO Dispute Settlement Body (DSB) will consider the US request for the establishment of a panel at its next meeting on August 31.

XI'AN -- A fire burnt up trees and shrubs on a mountain that shrouds one of the most famed imperial mausoleums in the ancient city of Xi'an in northwest China's Shaanxi Province, but no damage was caused to the cultural relics, local museum officials said on Sunday.The fire broke out around 2:00 p.m. Saturday on the western part of a mountain that encased the tombs of a powerful Chinese empress Wu Zetian and her husband Gaozong in the Tang Dynasty (618-907). The Qianling Mausoleum, as the tombs are called, reportedly houses the most precious possessions of the two rulers, including paintings, ceramics, calligraphy works and jewelry articles.The fire was fanned up by sandstorms which struck the area on Saturday, said Fan Yingfeng, curator of the Qianling Museum.More than 100 local villagers and 15 fire-fighters managed to put out the fire around 3:10 p.m. on Saturday. About 30 trees and a few shrubs were lost to the blaze.Initial investigation showed the fire was caused by a deserted cigarette end in the dry grasses."Although the fire didn't cause any major damage, it reflected an urgent need to educate residents in neighboring villages to guard against fire risks," Fan said.He said lessons should be learnt from the destruction of a 600-year-old Namdaemun gate in Seoul, one of the most treasured landmarks in the Republic of Korea. The two-tiered gate was set ablaze by a man upset over a land dispute.

Thirty-five years ago when Henry Kissinger was the US secretary of state, the rationale behind the detente between Beijing and Washington seemed simple: to overcome ideological barriers and parry common threat.The world has undergone a lot of changes since then. The Cold War is now part of history and the leaderships on both sides belong to another generation. But the 85-year-old US diplomatic policy expert believes cooperation between China and the US remains the key to solving many international issues.The two countries should work together on vital issues such as the denuclearization of the Korean Peninsula, nuclear non-proliferation, climate change and energy, Kissinger told China Daily on Sunday."Progress in the Democratic People's Republic of Korea (DPRK) depends on close cooperation between China and the US because we have learned (it) affects the security and the well-being of our country," Kissinger said.He supports the visit of the New York Philharmonic Orchestra to Pyongyang, which he compares to the Philadelphia Orchestra's tour to China in 1973."I also think we have to continue the Six-Party Talks in order to come up with a solution to the nuclear problem," he said.But will Beijing and Washington keep working together closely, given the uncertainties of the US presidential campaigns? Kissinger shrugs off the worries. "In a political campaign, many things are said but they don't last."We have had seven American presidents since the normalization (of ties between China and the US), and no matter what was said in the campaigns, they all have come back to the theme of the beginning of the relations."Beijing-Washington ties will keep moving forward - not always smoothly but positively - somehow like a long-term stock market curve "but without those big fluctuations", Kissinger said.He is certain that the two sides will keep cooperating on China's core concern, the Taiwan issue, to ensure that there is no showdown in the Taiwan Straits."I think Beijing and Washington will cooperate and really pressure Taipei that if they do not pull back it could look extremely unfavorable," he said. "I believe that we will avoid a crisis in the Taiwan Straits."Kissinger has met with every generation of the leadership since the establishment of the People's Republic of China, and hence is familiar with them. And he believes the present leadership can tackle complicated issues."Each generation has its own characteristics. Deng Xiaoping is an enormous figure for his vision and courage in guiding China on the road to market reforms. But every generation of leaders has made some significant contributions," he said."This generation is educated in universities and has more technical knowledge than the first generation. It has handled very complicated situations with considerable wisdom and skill."Kissinger visited China last week at the invitation of the Chinese People's Institute of Foreign Affairs. He has visited the country more than 50 times, and is impressed by the tremendous progress it has made, enabling it to navigate the changes in the world."I see tremendous vitality in the Chinese people and the people I talked with are also ambitious to study and to do something. I identify China with tremendous capacity to grow, and great opportunities with these people."His last visit to China was in a totally different scenario compared to his first few trips when there was no diplomatic or trade link between Beijing and Washington. More than three decades after his ice-breaking visit, Kissinger remains proud of what he did to "open" China."I consider that the single most important thing I did in government and the one that had the best permanent effect."Rice on vital visitUS Secretary of State Condoleezza Rice will arrive in Beijing today amid the heated presidential campaign in her country and some disturbing developments in the Taiwan Straits.Rice has a very busy schedule in Beijing, holding talks with Foreign Minister Yang Jiechi today. She flies to Japan tomorrow morning on the final stop of her Asia tour.This could be Rice's last visit to Beijing, and offers a chance for high-level policymakers on both sides to address issues of mutual concern, ranging from Taiwan to denuclearization of the Korean Peninsula and from Kosovo declaring independence to Sudan."The annual National People's Congress session will begin soon, while US politics is getting more and more focused on the presidential election. So this could be an important chance for high-level talks," said Yuan Peng, a senior American studies researcher with the China Institute of Contemporary International Relations.Yuan said the Taiwan question is likely to be a key topic during Rice's talks with Chinese leaders because neither side wants to see a conflict across the Straits. The Democratic People's Republic of Korea is another issue important to the two sides. 

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