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BEIJING, March 3 (Xinhua) -- Chinese President Hu Jintao on Wednesday accepted credentials presented respectively by the ambassadors to China from Barbados, Britain, Bosnia and Herzegovina, Macedonia and the Philippines.The five new ambassadors are Lloyd Erskine Sandiford from Barbados, Sebastian Wood from Britain, Amel Kovacevic from Bosnia and Herzegovina, Oliver Shambevski from Macedonia, and Francisco L. Benedicto from the Philippines.
HONG KONG, Feb. 5 (Xinhua) -- The relationship between the United States and China has been growing despite potential friction over trade and other issues, said Clark T. Randt Jr., former U.S. ambassador to China, at a lecture in Hong Kong on Friday.Randt said the potential trade friction, which should not be surprising given the dire economic situation and the upcoming mid- term elections in the United States, was more likely to come from the Congress rather than the administration.Randt, who had been U.S. ambassador to China from July 2001 to January 2009, said it was not surprising that the two countries should have disagreements given the differences in history, culture and the values."But the important thing is to keep in mind ... the awareness on both sides of the very important strategic interests we share," he added.The leaders in both Washington and Beijing understand that the two countries share strategic interests on many topics, Randt said, adding that he was "sure that the United States policy towards China has not changed.""More and more Americans are trying to know China, though the Chinese people still know the United States better than the Americans know China. There are currently 11,000 to 12,000 Americans studying in Beijing," he said.

YAOUNDE, March 23 (Xinhua) -- China and Cameroon said on Tuesday that they would make joint efforts to step up their parliamentary ties.The pledge came out of the hour-long talks between China's top political advisor Jia Qinglin and President of National Assembly of Cameroon Cavaye Djibril.Jia, the chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, is on a three-day official visit to the central African nation.This is the first visit to the African continent by a senior Chinese leader this year.Jia said that exchange and cooperation between the CPPCC and National Assembly of Cameroon would help boost people-to-people relationship and state-to-state relationship."The CPPCC would like to increase personnel exchanges with the National Assembly of Cameroon and discuss how to run the state and promote livelihood," Jia said.Djibril said the National Assembly of Cameroon stands ready to work more closely with the National People's Congress, China's top legislature, and the CPPCC.On the broader China-Cameroon relationship, Jia said the two countries have withstood the test of time and vicissitudes in the international arena since they established the diplomatic ties in 1971."The two countries have reaped new harvests in recent years," Jia said, referring to bilateral cooperation in trade and economy, science and technology, education, among others.China appreciated Cameroon's adherence to the one-China policy and support to the most populous country on issues concerning China's core interests, Jia said.Jia reaffirmed that China would work with Cameroon and other African countries to implement eight new measures announced last year by Premier Wen Jiabao, including debt cancellation, agriculture production, infrastructure, education.As China and Cameroon will mark the 40th anniversary of the diplomatic ties, Jia called on the both sides to take the opportunity to boost exchanges at all levels and hold celebrations to uplift the relationship.Echoing Jia's proposal, Djibril said his country would like to cooperate with China to advance relationship and generate benefit for their peoples.Following the talks, Jia also delivered a key-note speech on China-African relationship.Jia will meet with President of Cameroon Paul Biya on Wednesday.Cameroon is the first leg of Jia's ten-day African tour which will also take him to Namibia and South Africa.
BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.
来源:资阳报