BEIJING Truitjes Adnan Januzaj WK 2018 , March 9 (Xinhua) -- Global prospects are gloomy, stagnation has set in, and in the eye of the storm sits China.

Once the bellwether for global growth, China has increasingly found itself under the microscope after domestic markets experienced severe fluctuations. Yet, despite proclamations to the contrary, no crash materialized and the economy has maintained momentum.

However, this has done little to quell the storm whipped up by naysayers, who think they have plenty more reasons supporting their notions: local credit splurge, overcapacity, factory activity contraction, foreign trade dive, and money outflow.

Critics of China have pontificated on these shortcomings the world over, especially as China's national legislature meets this month to hammer out a blueprint for economic and social development in the coming five years.

The mood at home, however, is not so downbeat.

Premier Li Keqiang, in his government work report on Saturday, called China's economy ""flexible"" and ""tenacious."" After all, the country has huge foreign exchange reserves, low budget deficit, and the huge potential of urbanization.

Finance Minister Lou Jiwei, too, is confident, saying China has ""enough policy tools and huge space for reform"" to sustain medium-high expansion and achieve over 6.5 percent growth this year.

Can China make good use of those tools?

China's economic woes are no worse than other economy. So why all the pessimism?

The bottomline is that many economies have a biased distrust in China's ability to cope with the economic malaise.

hen President Xi Jinping launched an anti-corruption drive three years ago, there were murmurs that an extensive anti-graft campaign would undermine economic growth. The logic was driven by the belief that the secret to doing business in China was ""preferential policies.""

The anti-graft campaign, in fact, can be used to illustrate, and understand, Xi's economic governance philosophy, which is to clearly define the roles of the market and the government.

China is keen to learn from its Western counterparts, especially when trying to resolve complicated problems, such as the ""middle-income trap"" in next five years.

Rather than taking the unsustainable route of printing money, China will follow a path of supply-side structural reform, which has been, tenuously, compared to the Reaganism of the 1980s.

China has intensified efforts to create an open, fair environment for innovative ideas, which will help ineffective sectors.

To do this, policymakers must walk a fine line between preventing systematic risks and reducing overcapacity while at the same time avoiding a credit bubble.

China pledged to create 10 million more jobs and will extend financial assistance to workers that lose their jobs due as a result of restructuring.

The adjustment is ""tough, but correct,"" says Axel Weber, chair of UBS Group AG. The real test lies in China's resolve to push reform forward amid global recession.

China may be on an uphill journey, but it has taken a first step in the right direction.


BEIJING, May 8 (Xinhua) -- Sun Jiansheng came to the United Arab Emirates (UAE) 10 years ago. Yet his business started to take off only several years ago when he decided to grow vegetable in the desert.

He started his business from a small supermarket. After years of hard work, the business of the supermarket has been extended into e-commerce, food imports and exports. Although getting a foothold in the local business sector, Sun still felt unsatisfied.

Later, he found an opportunity in vegetable growing.

The local cuisine of the UAE mainly consists of barbecued and fried dishes, with a very limited choice of vegetables. The food is hardly palatable to people from China. The imported vegetables are very expensive and not very fresh. Preservatives are often added for the transportation and storage of such vegetables, which make them unhealthy.

To provide local Chinese with authentic and environment-friendly Chinese fruits and vegetables, Sun decided in 2012 to invest heavily to build a organic vegetable farm in the Nazwa Desert.

The climate in Dubai is hot and dry, with the annual precipitation of only 100 mm. Growing vegetables in the desert requires large investment and is very difficult. A friend of Sun's once persuaded him out of the business.

"I will try my best once I have decided no matter how hard it is," he answered.

While Sun attends his farm in desert heat, thousands of kilometers away in the city of Osh in southern Kyrgyzstan, Nurdinov Nizomidin, a farmer, is also busy working under the scorching sun in the cotton field.

Different from Dubai's terrible natural conditions, Osh enjoys good climate and abundant water resources, making it an important area of cotton production.

As a man of wealth with some fame in the local area, Nurdinov earns 40,000 U.S. dollars every year, which is not a small figure compared with the average monthly wage of 200 U.S. dollars there.

Despite the favorable natural conditions, Nurdinov said it was China's green technology that brings fortune.

In the past, the cotton planting technology came from the Soviet Union, with the output of 3 tons per hectare. Later, Chinese technicians of the Institute of Cotton Research of the Chinese Academy of Agricultural Sciences came to Kyrgyzstan to promote cotton-planting technology. They managed to find the most suited breeds for planting, based on the local natural conditions. They brought in weeding mulch to reduce labor intensity, and more advanced seeding machines to save seeds. They also measured and analyzed soil to provide more accurate and effective fertilizers.

At first, local residents were skeptical that Chinese cotton-planting technology would be superior to those of the Soviet Union. But Nurdinov chose to try them out a. Eduardo Herrera Mexico Jersey   Ricardo Quaresma Portugal Jersey   Samuel Umtiti France Jersey   Theo Walcott England Jersey   Sime Vrsaljko Croatia Jersey   Stefan Medina Colombia Jersey   Weverton Brazil Jersey   Yannick Carrasco Belgium Jersey   Victor Cuesta Argentina Jersey   Nicolas Lodeiro Uruguay Jersey