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BEIJING, Sept. 5 (Xinhua) -- China and the World Bank are jointly researching ways to help rebalance the world's second largest economy and move toward a path of sustainable growth under the current challenging global economic situation, said World Bank Group President Robert B. Zoellick on Monday.A report, jointly being prepared by the World Bank, China's Ministry of Finance, and the Development Research Center of the State Council, will be released later this year to support China in identifying the many challenges and policy choices it will face in the next two decades, as the country seeks to avoid the so-called "middle-income trap," a stage of economic development that has slowed progress in many countries, Zoellick said.Regarding this autumn as "a sensitive time facing the world's major economies," Zoellick said many countries, including the United States, the European Union and Japan, were facing the similar fundamental challenge of restructuring for sustainable economic growth."Perhaps the challenge is more difficult for China as the country has already made remarkable progress, and thus it's not easy to persuade people to make a change," he said.Commenting in Beijing on a weekend workshop with senior Chinese officials and outside experts, Zoellick said there was agreement that China will have to rebalance its economy, improve the environment, reduce inequality and advance the quality of life for its people while at the same time maintaining rapid growth."In the near term, inflation is China's priority, as Premier Wen Jiabao mentioned," Zoellick said, adding that the Chinese government was moving in the right direction, though it was too early to have the problem solved.In next 10 years, however, Zoellick said he could not imagine China continuing to rely on exports for growth, especially when developed economies have had difficulties recovering.By shifting away from an over-dependence on export-led growth to a greater reliance on domestic demand and investment, China could benefit not only itself but the world economy, he said.As China's 12th Five-Year Plan has pointed the way forward with what needs to be done, Zoellick said the ongoing research will try to help with the "how."He said the report will cover issues such as how China can complete its transition to a market economy; how to promote open innovation; how to advance green development; how to deliver equality of opportunity and social security to citizens; how to strengthen the fiscal system, and how China can become a responsible stakeholder in the international system.During his stay in China, Zoellick also visited the country's wasteland-turned-grain-producing-base in the northeast, including a farm, a rice mill, an agricultural research center and a modern agricultural machinery park, and learned about how this land transformation had affected local people's lives.As the world population is expected to hit 9 billion by 2050, Zoellick said the World Bank has been urging G-20 countries to prioritize food issues."China feeds 20 percent of the world's population with less than 10 percent of the world's agricultural land and less than six percent of its water, so China could make a significant contribution to global food security," Zoellick said.
BEIJING, July 26 (Xinhuanet) -- Hong Kong scientists announced that they had determined the idea of time travel is impossible by proving nothing can travel faster than the speed of light.The finding is contained in a study done by a research team from Hong Kong University of Science and Technology. The study was published Monday in a scientific journal "Physical Review Letters" in the United States."The study, which showed that single photons also obey the speed limit c, confirms Einstein's causality, that is, an effect cannot occur before its cause," the university said on its website."By showing that single photons cannot travel faster than the speed of light, our results bring a closure to the debate on the true speed of information carried by a single photon." said Professor Du Shengwang, who led the study.The possibility of time travel was raised 10 years ago when scientists discovered the optical pulses in some specific medium might propagate information in a faster-than-light speed."Our findings will also likely have potential applications by giving scientists a better picture on the transmission of quantum information." Du said.

People look at a W154 Mercedes Benz racing car at a vintage car show marking the German car maker's 125 anniversary at the former Tempelhof airport in Berlin, August 27, 2011.
BEIJING, July 11 (Xinhuanet) -- The pace of China's import growth in June fell to its lowest level in 20 months as tightening monetary policies kicked in, resulting in the biggest monthly trade surplus this year, official statistics show.Import growth is expected to slow in the coming months, thanks to the broad impact of the tightening measures, before picking up in the last quarter, economists predicted.According to the General Administration of Customs (GAC), imports rose 19.3 percent, from a year earlier, to 9.7 billion, the weakest since November 2009.Exports rose 17.9 percent and despite this being the smallest increase since last December they reached a record high of 1.9 billion.The decline in import growth has led to a widening trade surplus, .3 billion in June compared to .1 billion in May. But in the first six months the trade surplus dropped 18 percent, year-on-year, to .9 billion."Import growth was weaker than expected, as imports for China's processing trade weakened and de-stocking in heavy industry continued," Wang Tao, head of China Economic Research at UBS Securities, said."Recent commodity price drops, including crude oil, also helped lower the import bill," she added.June's net imports of crude oil fell 12 percent from May to 19.43 million metric tons, the lowest since October, amid refinery maintenance and slowing energy demand, according to the GAC figures."Decelerating economic growth and tightening measures to soak up market liquidity have reined in import growth, but it is not a cause for worry," Li Wei, an economist at Standard Chartered Shanghai, said.The government is expected to announce economic growth data for the second quarter on Wednesday. Gross domestic product growth is widely predicted to slow from 9.7 percent for the first quarter."The slowdown in import growth will last two to three months or even longer due to both falling demand and possible commodity price drops," Li said.Zhong Shan, vice-minister of commerce, said recently that imports will slow down in the second half, citing the government's measures to cool the economy.The central bank has raised interest rates five times since mid-October, with the latest on July 7, and increased the reserve requirements for commercial banks, the amount they have to set aside, nine times since November. The consumer price index, a major gauge of inflation, surged to 6.4 percent last month, the highest in three years.Zhao Fudi, GAC spokesman, said in an online broadcast on Sunday that higher prices are increasing inflationary pressure, leading to a 14.7 percent gain in the overall price of imported commodities in the first half.Imports surged 27.6 percent year-on-year to 9.4 billion from January to June, as commodity prices rose during the first half. Exports increased 17.9 percent in June, down from 19.4 percent in May."This is because of weaker external demand" from developed nations, Wang said.Exports increased 24 percent, year-on-year, to 4.3 billion during the first half, but exports to both the United States and the European Union, China's two major trading partners, rose by only 16.9 percent."The slow recovery of the global economy and the European debt crisis have added uncertainties to export growth," Zheng Yuesheng, head of the GAC statistics department, said.Lu Zhengwei, chief economist at Industrial Bank, believes that the March earthquake and tsunami in Japan hurt China's exports."The disaster cut off China's imports of parts and components used for mechanical and electrical goods, leading to a decline in those exports" which make up a majority of China's exports, Lu said.As Japanese manufacturers resume full production, or come close to it, in September, China's exports will regain momentum, he predicted.Li Wei agreed. "China's exports keep pace with the global economic recovery. And growth will probably see a turnaround in September" when orders for the Christmas season are usually made, Li said.Many companies in China's coastal regions are far from optimistic, citing rising costs in labor and raw materials and yuan appreciation, as well as shrinking demand abroad.Han Jie, deputy director general of the department of commerce in Zhejiang province, said "exporters in Zhejiang have experienced a disappointing first half, and the second half will not be better".
BEIJING, July 20 (Xinhuanet) -- Some U.S. soldiers returning from the Middle East have acquired constrictive bronchiolitis, a kind of lung damage virtually unknown in young adults, according to U.S. News & World Report."Respiratory disorders are emerging as a major consequence of service in southwest Asia," said study author Dr. Matthew S. King, an assistant professor of pulmonary and critical care at Meharry Medical College in Nashville, Tenn."In addition to our study, there have been studies showing increases in asthma, obstructive lung disease, allergic rhinitis and a general increase in reports of respiratory symptoms," he added. "Most of the patients say they can’t seem to catch their breath when exerting themselves."On the other hand, Anthony Szema, a physician and engineer at Stony Brook University in New York, has examined a soldier and found tiny complexes of titanium and iron in the man’s lungs, where metals can cause severe damage.Mined separately, the two metals could have gotten together only through a manufacturing process, Szema reported. While the metals’ origin is unclear, he presents a new case study, suspecting garbage-burning pits or exploding devices sent them airborne.While the cases in the study represent only a few dozen people of the hundreds of thousands serving in the Middle East, there is no estimate of how many more might have bronchiolitis.it is recommended that soldiers exercise caution in the field until more is known. Soldiers are now told to wear a mask when burning garbage.
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