Economy

US stocks suffer worst year since 2008 financial crisis

US stocks suffer worst year since 2008 financial crisis

China and the United States have been engaged in a trade war since US President Donald Trump announced in June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit.

"Along the way, the Chinese people have become self-reliant and hard-working, creating a Chinese miracle that has attracted worldwide attention".

In his message to Trump, Xi said China-US relations have experienced ups and downs and made historic progress over the past four decades, state news agency Xinhua said.

National strategies including the coordinated development of the Beijing-Tianjin-Hebei region, the development of Yangtze Economic Belt, and the construction of Guangdong-Hong Kong-Macao Greater Bay Area were steadily implemented.

In 2018, China successfully launched the Chang'e-4 lunar probe, the country's second aircraft carrier set sail on its maiden voyage and its domestically-made large amphibious aircraft AG600 took to the skies for the first time.

The people familiar with the state of negotiations said the president may be overstating how close the two sides are to an agreement. The following year, the United States surprisingly opened diplomatic ties with the country.

In the same year, late paramount leader Deng Xiaoping, often credited with China's "Reform and Opening" policy which led to its economic transformation, met U.S. president Jimmy Carter in the United States.

Xi did not make specific mention of the trade war with the United States, noting that 2019 would bring "opportunities and challenges".

'To be clear, the challenges we see ahead don't look to us like the makings of another financial crisis, ' said a recent investor note by JPMorgan Private Bank said in a recent investor note.

More news: The big defensive mistake that cost Gamecocks dearly against Virginia

Honest appreciation should be given to professionals in all areas while efforts be made to motivate responsible and competent grass-roots officials, he said.

A total of 125 counties and 10 million rural residents were lifted out of poverty, Xi said.

Xi also extended gratitude to millions of hardworking people, such as deliverymen, sanitation workers and taxi drivers.

U.S. President Donald Trump takes part in a welcoming ceremony with China's President Xi Jinping at the Great Hall of the People in Beijing, China, on November 9, 2017.

China hosted a series of worldwide diplomatic events in 2018, including the annual Boao Forum for Asia, the Shanghai Cooperation Organization summit in Qingdao, as well as the Beijing Summit of the Forum on China-Africa Cooperation.

China put forward its proposals and made its voice heard, and enlarged its circle of friends in 2018, Xi said.

"The world has seen a China whose reforms and opening up have gathered speed.", Xi said.

China will actively promote the joint construction of the Belt and Road, continue to promote the building of a community with a shared future for humanity, and work relentlessly for an even more prosperous and attractive world, he said.

Rising interest rates and economists' warning of slow growth and a possible recession also led to the economy's decline towards the end of the year. "I expect this trend to continue in the coming year".


  • Jasprit Bumrah is a world-class bowler, says Nathan Lyon

    Jasprit Bumrah is a world-class bowler, says Nathan Lyon

    In the three Tests against Australia so far, India's pace attack has outperformed Pat Cummins, Mitchell Starc and Josh Hazlewood. Virat Kohli added another feather to his cap on Sunday as he equalled Sourav Ganguly's record of 11 away Test wins as captain.
    Amanda Nunes KOs Cyborg in 51 seconds, Jones wins at UFC 232

    Amanda Nunes KOs Cyborg in 51 seconds, Jones wins at UFC 232

    Cyborg's UFC contract expires in March and the defeat to Nunes may be the last time the Brazilian competes inside the octagon. The UFC made the extraordinary decision to move its show 280 miles to California to keep Jones on the card.
    Serena Williams welcomes rule changes to protect mothers

    Serena Williams welcomes rule changes to protect mothers

    Serena Williams won the first set against sister Venus in Abu Dhabi but it was the elder sibling who came away with the win. After a long rally that went Venus' way, Serena was at the baseline near Olympia and spotted her daughter clapping.
  • Car Crashes Into New Year's Crowd in Tokyo in Suspected Terror Attack

    Car Crashes Into New Year's Crowd in Tokyo in Suspected Terror Attack

    A 25-year-old has been arrested on suspicion of attempted murder, police said, adding that two knives were involved in the attack. One college student suffered serious injuries during the attack and was undergoing surgery, the police spokesman told AFP.
    Browns QB Baker Mayfield looking forward to more matchups with Lamar Jackson

    Browns QB Baker Mayfield looking forward to more matchups with Lamar Jackson

    The game was over, the Ravens won, and fans can now start looking ahead to a home playoff game against the Chargers. All they had to do was defeat the Cleveland Browns to capture the AFC North. "He always got the best out of us".
    Cyber-attack disrupts distribution of multiple USA  newspapers

    Cyber-attack disrupts distribution of multiple USA newspapers

    Thank you for your patience and support as we respond to this ongoing matter", The Times said in a statement. When subscribers tried to call the paper, they were erroneously told that the numbers were out of service.
  • NASA Tracking Flyby Of Most Distant Space Expedition In Human History

    NASA Tracking Flyby Of Most Distant Space Expedition In Human History

    The object is so old and pristine that it's essentially like going back in time to the beginning of our solar system. The craft is now so far from Earth that it takes six hours and eight minutes to receive a command from Earth.
    56 dead from landslides, floods in Philippines

    56 dead from landslides, floods in Philippines

    Data from NDRRMC showed the reported deaths come from Bicol region at 59, Eastern Visayas at 13, and 3 from other regions. Many of those who perished were due to landslides and floods, the region's civil defense office said in a report.
    Deadly blast ruins Russian Federation  housing block in Magnitogorsk

    Deadly blast ruins Russian Federation housing block in Magnitogorsk

    Officials say that at least seven people have died after sections of the apartment building collapsed after a gas explosion . Local resident Anna Koroleva told Echo of Moscow radio that the explosion shattered windows of nearby buildings.
  • Israel's Netanyahu said would not resign during possible indictment hearing

    Israel's Netanyahu said would not resign during possible indictment hearing

    Netanyahu held the news conference during a trip to Brazil for the inauguration of President-elect Jair Bolsonaro on Tuesday. The leftist Workers' Party, which dominated Brazilian politics from 2003 to 2016, boycotted the ceremony.
    Alvaro Morata slammed for his conduct at half-time in Crystal Palace win

    Alvaro Morata slammed for his conduct at half-time in Crystal Palace win

    Sarri added: "We have to play 19 matches, so other team's results are not important but it is crucial to have continuity. "Later in the evening I will see the doctor for the first results (of a scan) but it (the main scan) will be tomorrow".

    Carry On actress June Whitfield has died, aged 93

    Meanwhile her radio work included her portrayal of Miss Marple in 12 BBC Radio 4 adaptations of Agatha Christie novels. The television star was made an Officer of the British Empire in 1985, and was given a damehood in 2017.