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with five suburban districts of Tongzhou, Yanqing, Changping, Huairou and Shunyi upgrading it to yello
w alert later. These areas were hit with strong winds as high as 8-9 grades, with gales reaching 10 grade
at some places. According to forecast, the wind could still be as high as 7-8 grades on Monday.
The gale toppled a wall near Dongzhimen Bridge in downtown Beijing, hitting three pedestrians,
two males and one female. Two of them died at the scene and one at hospital, Dongcheng District said via Sina Weibo.
Food delivery service Meituan said one of its deliverymen was hit and killed by a fallen tree when delivering food.
The speed of wind reached 10-15 meters per second at the Capital International Airport starting from 10 a
m Sunday, with gales as fast as 20-25 meters per second, the airport said. Due to the strong wind, th
e operational ability of the airport dropped and remained low until 7 pm Sunday.
integration－trade, investment and finance－began benefiting large emerging and developing econ
omies. To be sustainable, globalization cannot serve just a few wealthy advanced economies. It m
ust also serve poorer and faster-growing economies, which today account for most of the global growth.
So, by flirting with trade protectionism and punitive tariffs on imports, adva
nced economies are seeking to implement the wrong policies at the wrong time. As the adv
anced countries have fallen into secular stagnation, they desperately need growth. Therefore, the rise of poorer eco
nomies is not a win-lose game, because it benefits the advanced economies, too.
In the aftermath of the 2008 global financial crisis, all major advanced econom
ies would have faced another Great Depression without the support of large emerging economies, particularly Ch
ina. And the contribution of these countries to global GDP growth is expected to climb to 80 percent by 2050.
Hainan provincial health authorities have revoked Boao Yinfeng Healthcare International H
ospital’s business license, for illegally administering HPV 9-valent vaccines, according to a statement Sunday.
Located in the Boao Lecheng International Medical Tourism Pilot Zone, the hospit
al has since January last year vaccinated 37 customers with HPV 9-valent, charging each 9,000 yuan.
They did so without obtaining an official vaccination outpatient license, said the statement.
It said the local health commission of Qionghai, where the Boao pilot zone is loc
ated, on April 18 issued the hospital a notice of penalties, including a warning, confiscati
on of illegal income, a fine of 8,000 yuan, and a revocation of its business license as a medical institution.
be a great literary device, but it makes little sense in a dynamic global economy. Since early research on the middle-income trap was published in 2012, the world economy
has grown by about 25 percent－presumably boosting the moving target of a middle-income threshold by a comparable magnitude over t
hat period. Largely for that reason, recent research has couched the trap not in terms of an absolute threshold, but as relative convergence to high-income cou
ntries. From this perspective, danger looms when developing economies’ per capita income approaches 20-30 percent of the level in high-income economies. Giv
en that China will hit about 30 percent of the United States’ per capita GDP (in PPP terms) in 2019, it must be time to worry!
Slowing growth not as alarming as feared
Third, not all growth slowdowns are alike. A country’s GDP is a broad aggregation of a multiplicity of activities across sectors, busin
esses and products. Structural shifts from one sector to another can give the appearance of a growth discontinuity that may be nothing mo
re than the outcome of a deliberate rebalancing strategy. This is very much the case with China today, given its shift from
higher-growth manufacturing and other “secondary” industries to slower-growing services, or “tertiary” industries. To the extent
that this shift is the intended result of China’s strategic rebalancing, a slowdown in growth is far less alarming.