There's no such thing as a free lunch, even for the economic superpower. Washington cannot expect to have a sovereign currency, the most frequently used across the world, but not face the repercussion of its overspending.WASHINGTON, Feb. 13 (Xinhua) -- As official data showed the U.S. total trade deficit has soared to a record high in 2021, American politicians and media outlets quickly seized upon this new excuse to blame China yet again for the increase in red ink.By habitually hyping up the topic of its trade deficit with China, the United States disclosed its unwillingness to scrutiniz...
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BEIJING, Feb. 13 (Xinhua) -- Chinese President Xi Jinping on Sunday congratulated Frank-Walter Steinmeier on his re-election as president of the Federal Republic of Germany.In a congratulatory message, Xi pointed out that this year marks the 50th anniversary of the establishment of diplomatic relations between China and Germany.Xi said he attaches great importance to the development of China-Germany relations, and stands ready to work with Steinmeier to enrich the China-Germany all-round strategic partnership and take bilateral relations to a new level.
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'As a result, we expect that a sudden and substantial rise in real rates could cause a significant drop for U.S. stocks, particularly in highly valued sectors such as technology,' IMF officials said, adding the U.S. 10-year real yield has already increased by nearly half a percentage point this year.WASHINGTON, Jan. 27 (Xinhua) -- A sudden and substantial rise in real interest rates, or inflation-adjusted rates, could lead to a further selloff in U.S. stocks, particularly in highly valued sectors, the International Monetary Fund (IMF) warned on Thursday.'After an exceptional year s...
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BEIJING, Jan. 27 (Xinhua) -- Profits of China's major industrial firms surged 34.3 percent year on year in 2021 as industrial production recovered and profit margin improved, official data showed on Thursday.Industrial firms with annual business revenues of at least 20 million yuan (about 3.16 million U.S. dollars) saw their combined profits reach 8.71 trillion yuan last year, data from the National Bureau of Statistics (NBS) showed.The full-year industrial profits were 39.8 percent higher than the 2019 level, putting the average annual growth for 2020 and 2021 at 18.2 percent.In 2021, the...
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U.S. Federal Reserve Chair Jerome Powell testifies at a confirmation hearing before the Senate Banking Committee in Washington, D.C., the United States, on Jan. 11, 2022. (Brendan Smialowski/Pool via Xinhua)'With inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate,' the Fed said in a statement.WASHINGTON, Jan. 26 (Xinhua) -- The U.S. Federal Reserve on Wednesday said that it will soon be appropriate to raise its benchmark interest rate amid surging inflation.'Supply and dema...
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