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As a result, the number of mainland tourists to Taiwan has dropped by 40 percent since she entered office, which has caused the bankruptcy of tourism agencies in Taiwan and rising unemployment rates among tourist guides. Agriculture products, which previously accounted for a high percentage of Taiwan's products to the Chinese mainland, also became overstocked.

As head of the New York Fed from 2009 to 2018, Dudley was vice-chairman of the committee that sets US interest rates during critical years in the aftermath of the global financial crisis and also ran the regional bank that implements that policy through trading in the market.

As an old Chinese saying goes, every success depends upon good preparations. Beijing and Washington must fully recognize the persisting, intricate and challenging nature of the China-US trade issues. The two sides shall follow the principles set by the two heads of state, keep economic cooperation on the track of mutual benefit and win-win outcomes, make full use of the newly-established dispute-resolving mechanism and other platforms for dialogue, meet each other halfway along the right path toward solving the issues, and get off to a good start for China-US economic and trade ties in the new era.

As all advanced societies are moving toward digital transformation to improve services, save money and effort and generally changing people's life via smart ICT solutions varying from mobile payments to digital administration of entire cities, Africa and most developing states are still behind.

As for concerns about pressure from escalating Sino-US trade frictions, which would lead to an increase in the price of soybeans and other imported commodities, the impact may still be marginal because the country can increase imports from other nations to offset the risks, they said.