US President Donald Trump’s aggressive tariff policy is “bound to fail”, as he overestimates the US market’s significance for China and lacks the leverage he believes Washington has over Beijing, said a senior US economist. Jeffrey Sachs Trump’s tariff weapon will not make the United States great again. Instead, the US “will squander its leadership…
Lujiazui, Shanghai’s financial center, provides a stunning backdrop to the Bund. [Photo by Wang Gang/For China Daily] The gross domestic product of 27 Chinese cities surpassed 1 trillion yuan ($137.87 billion) in 2024, according to People’s Daily overseas edition on Monday. Shanghai, China’s financial hub, and Beijing, the capital city, claimed the first and second…
[Photo/VCG] The A-share market rose on Monday morning as news that Central Huijin Investment, an arm of China’s sovereign wealth fund, is set to take control of four major State-owned financial institutions, further strengthening investor sentiment. The move, according to analysts, will enhance the ability of State-owned distressed asset managers to resolve risks and improve…
An aerial drone photo shows a view of the Tangshan Port in North China’s Hebei province, Jan 13, 2025. [Photo/Xinhua] Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University, gave an exclusive interview to China Daily. The following is the full text of the interview: Q1: How do you see Trump’s decision…
Zhang Xin, a white-collar worker from Shanghai, made advance reservations to spend the Spring Festival holiday enjoying snow in Northeast China’s Jilin province. Zhang, together with his 7-year-old son, practiced snowboarding techniques under the guidance of an instructor at Changbaishan International Resort. They progressed from falling repeatedly at first to gaining some proficiency. Zhang humorously…
A worker transports cargo with a forklift at the Urumqi International Land Port Area in the Xinjiang Uygur autonomous region in July. CAI ZENGLE/FOR CHINA DAILY URUMQI — Despite mounting pressure from Western countries over issues like so-called “forced labor” and import restrictions and sanctions, Northwest China’s Xinjiang Uygur autonomous region achieved a historic high…
When students in Thailand and Madagascar first encountered industrial robot programming, they were overwhelmed and in a complete state of shock and confusion. However, patient Chinese teachers helped them make a huge leap from “I don’t understand” to “I can do it”. Their grit and determination earned them medals. Madagascar’s students said, “I aspire to…
View of 2025 SCIA Spring Reception. [Photo provided to chinadaily.com.cn] As the global influence of the Guangdong-Hong Kong-Macao Greater Bay Area in arbitration continues to grow, the Shenzhen Court of International Arbitration, or SCIA, is supporting Chinese business enterprises in their global ventures. It’s also contributing to international trade and economic exchanges, according to industry…
An aerial view of the Lin-gang Special Area of China Shanghai Pilot Free Trade Zone. [Photo provided to chinadaily.com.cn] The five administrative bureaus under the China (Shanghai) Pilot Free Trade Zone officially launched service centers on Thursday to facilitate cross-border data flow and help better implement the recently released negative list for data export. The…
Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University. [Photo provided to China Daily] The United States President Donald Trump’s aggressive tariff policy is bound to fail, as he overestimates the US market’s significance for China and lacks the leverage he believes Washington has over Beijing, said a senior US economist. Trump’s…