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体育彩票中奖号码

发布时间:2019-09-22 08:31:48 来源:竞彩篮球预测

  体育彩票中奖号码JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  GlobaleffortaimstofinddiseasevectorsthatcanjumpfromanimalstohumansChinawillhelpleadaprojecttoidentifyunknownvirusesfromwildlifetobetterpreparehumansformajorepidemics-ifnotglobalpandemics.Theprojectistobelaunchedthisyear,accordingtooneofthecountry'stophealthofficials.TheGlobalViromeProjectwillstartinChinaandThailandwithfieldworktocollectsamplesfromwildanimalsandanalyzethevirusesdetected,saidGaoFu,headoftheChineseCenterforDiseaseControlandPrevention."Scientistswillcollectvirussamplesfromanimalssuchasbatsandratsforstudyusingtechniqueslikenextgeneration(DNA)sequencingtofindwhethernewvirusesexist,"hesaid.Theproject,estimatedtocostupto$1.2billion,isexpectedtotake10yearsandinvolvesmanycountriesincludingtheUnitedStates,BrazilandNigeria.Throughmoreintensiveandextensivestudyofvirusesfromanimalsthatcouldinfecthumans,itmaybepossibletodealwithvirusesusingpreemptivecontrolsandpreventioninsteadofpassive,reactivemeasures,Gaosaid."Weallknowtherearealmostcertainlynewvirusesthatcouldcausethenextglobalpandemic,butbasedontheexistingearlywarningcapacityfordiseases,wedonotknow,forexample,whichviruswillcauseanepidemic,"Gaosaid."Wearesurethatnewvirusstrainswillappearinthefuturealongwithchangesinourecology,environmentandhumanbehaviors."Forinstance,humans'abuseofantibioticshasleadtothepotentialdevelopmentofsuperbugs."Therearemanyviruseslivinginwildanimals,sowecanidentifyvirusesandthoroughlystudythosethatcouldpasstohumans,"Gaosaid."Ideallywecandevelopvaccinesandadiagnosisforsuchvirusesevenbeforetheycausehumanepidemics."Itisknownthat263virusescaninfecthumans,butscientistsestimatetheremaybemorethanhalfamillionvirusesthatliveinbirdsandmammalsandthatareunknowntohumansthatmaybecapableofinfectinghumans,andtheyaretheprimarysubjectoftheproject'sresearch,Gaosaid.Evenifalargenumberofsuchunknownvirusesareidentified,itispossiblethatjustasmallfractionofthemhavetheabilitytocausemajorepidemicsthatcausehumandeaths,hesaid.However,consideringthehugecostofamajorepidemiclikeSARStohumanhealthandeconomies,thefindingsoftheprojectstillhavethepotentialtogreatlyreducelossesthroughimprovedearlydiagnosisandidentificationofhostsvulnerabletoanewvirusafteranoutbreak,accordingtoGao.AsimilarprojectcarriedoutbytheUSAgencyforInternationalDevelopmentprovedthefeasibilityoftheGlobalViromeProjectandprovideshelpfulexperience,hesaid.TheUSAIDproject,knownasPredictandlaunchedin2009,withChinaaparticipant,ledtofindingsofmorethan1,000virusespreviouslyunknowntohumans.Theprojectcostwasover$170million,hesaid.SomeofthetechnologiesusedforthatprojecthaveprovedreliableandeconomicallyaffordableandcanbeusedfortheGlobalViromeProject,Gaosaid.  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  GlobaleffortaimstofinddiseasevectorsthatcanjumpfromanimalstohumansChinawillhelpleadaprojecttoidentifyunknownvirusesfromwildlifetobetterpreparehumansformajorepidemics-ifnotglobalpandemics.Theprojectistobelaunchedthisyear,accordingtooneofthecountry'stophealthofficials.TheGlobalViromeProjectwillstartinChinaandThailandwithfieldworktocollectsamplesfromwildanimalsandanalyzethevirusesdetected,saidGaoFu,headoftheChineseCenterforDiseaseControlandPrevention."Scientistswillcollectvirussamplesfromanimalssuchasbatsandratsforstudyusingtechniqueslikenextgeneration(DNA)sequencingtofindwhethernewvirusesexist,"hesaid.Theproject,estimatedtocostupto$1.2billion,isexpectedtotake10yearsandinvolvesmanycountriesincludingtheUnitedStates,BrazilandNigeria.Throughmoreintensiveandextensivestudyofvirusesfromanimalsthatcouldinfecthumans,itmaybepossibletodealwithvirusesusingpreemptivecontrolsandpreventioninsteadofpassive,reactivemeasures,Gaosaid."Weallknowtherearealmostcertainlynewvirusesthatcouldcausethenextglobalpandemic,butbasedontheexistingearlywarningcapacityfordiseases,wedonotknow,forexample,whichviruswillcauseanepidemic,"Gaosaid."Wearesurethatnewvirusstrainswillappearinthefuturealongwithchangesinourecology,environmentandhumanbehaviors."Forinstance,humans'abuseofantibioticshasleadtothepotentialdevelopmentofsuperbugs."Therearemanyviruseslivinginwildanimals,sowecanidentifyvirusesandthoroughlystudythosethatcouldpasstohumans,"Gaosaid."Ideallywecandevelopvaccinesandadiagnosisforsuchvirusesevenbeforetheycausehumanepidemics."Itisknownthat263virusescaninfecthumans,butscientistsestimatetheremaybemorethanhalfamillionvirusesthatliveinbirdsandmammalsandthatareunknowntohumansthatmaybecapableofinfectinghumans,andtheyaretheprimarysubjectoftheproject'sresearch,Gaosaid.Evenifalargenumberofsuchunknownvirusesareidentified,itispossiblethatjustasmallfractionofthemhavetheabilitytocausemajorepidemicsthatcausehumandeaths,hesaid.However,consideringthehugecostofamajorepidemiclikeSARStohumanhealthandeconomies,thefindingsoftheprojectstillhavethepotentialtogreatlyreducelossesthroughimprovedearlydiagnosisandidentificationofhostsvulnerabletoanewvirusafteranoutbreak,accordingtoGao.AsimilarprojectcarriedoutbytheUSAgencyforInternationalDevelopmentprovedthefeasibilityoftheGlobalViromeProjectandprovideshelpfulexperience,hesaid.TheUSAIDproject,knownasPredictandlaunchedin2009,withChinaaparticipant,ledtofindingsofmorethan1,000virusespreviouslyunknowntohumans.Theprojectcostwasover$170million,hesaid.SomeofthetechnologiesusedforthatprojecthaveprovedreliableandeconomicallyaffordableandcanbeusedfortheGlobalViromeProject,Gaosaid.  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  GlobaleffortaimstofinddiseasevectorsthatcanjumpfromanimalstohumansChinawillhelpleadaprojecttoidentifyunknownvirusesfromwildlifetobetterpreparehumansformajorepidemics-ifnotglobalpandemics.Theprojectistobelaunchedthisyear,accordingtooneofthecountry'stophealthofficials.TheGlobalViromeProjectwillstartinChinaandThailandwithfieldworktocollectsamplesfromwildanimalsandanalyzethevirusesdetected,saidGaoFu,headoftheChineseCenterforDiseaseControlandPrevention."Scientistswillcollectvirussamplesfromanimalssuchasbatsandratsforstudyusingtechniqueslikenextgeneration(DNA)sequencingtofindwhethernewvirusesexist,"hesaid.Theproject,estimatedtocostupto$1.2billion,isexpectedtotake10yearsandinvolvesmanycountriesincludingtheUnitedStates,BrazilandNigeria.Throughmoreintensiveandextensivestudyofvirusesfromanimalsthatcouldinfecthumans,itmaybepossibletodealwithvirusesusingpreemptivecontrolsandpreventioninsteadofpassive,reactivemeasures,Gaosaid."Weallknowtherearealmostcertainlynewvirusesthatcouldcausethenextglobalpandemic,butbasedontheexistingearlywarningcapacityfordiseases,wedonotknow,forexample,whichviruswillcauseanepidemic,"Gaosaid."Wearesurethatnewvirusstrainswillappearinthefuturealongwithchangesinourecology,environmentandhumanbehaviors."Forinstance,humans'abuseofantibioticshasleadtothepotentialdevelopmentofsuperbugs."Therearemanyviruseslivinginwildanimals,sowecanidentifyvirusesandthoroughlystudythosethatcouldpasstohumans,"Gaosaid."Ideallywecandevelopvaccinesandadiagnosisforsuchvirusesevenbeforetheycausehumanepidemics."Itisknownthat263virusescaninfecthumans,butscientistsestimatetheremaybemorethanhalfamillionvirusesthatliveinbirdsandmammalsandthatareunknowntohumansthatmaybecapableofinfectinghumans,andtheyaretheprimarysubjectoftheproject'sresearch,Gaosaid.Evenifalargenumberofsuchunknownvirusesareidentified,itispossiblethatjustasmallfractionofthemhavetheabilitytocausemajorepidemicsthatcausehumandeaths,hesaid.However,consideringthehugecostofamajorepidemiclikeSARStohumanhealthandeconomies,thefindingsoftheprojectstillhavethepotentialtogreatlyreducelossesthroughimprovedearlydiagnosisandidentificationofhostsvulnerabletoanewvirusafteranoutbreak,accordingtoGao.AsimilarprojectcarriedoutbytheUSAgencyforInternationalDevelopmentprovedthefeasibilityoftheGlobalViromeProjectandprovideshelpfulexperience,hesaid.TheUSAIDproject,knownasPredictandlaunchedin2009,withChinaaparticipant,ledtofindingsofmorethan1,000virusespreviouslyunknowntohumans.Theprojectcostwasover$170million,hesaid.SomeofthetechnologiesusedforthatprojecthaveprovedreliableandeconomicallyaffordableandcanbeusedfortheGlobalViromeProject,Gaosaid.  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  GlobaleffortaimstofinddiseasevectorsthatcanjumpfromanimalstohumansChinawillhelpleadaprojecttoidentifyunknownvirusesfromwildlifetobetterpreparehumansformajorepidemics-ifnotglobalpandemics.Theprojectistobelaunchedthisyear,accordingtooneofthecountry'stophealthofficials.TheGlobalViromeProjectwillstartinChinaandThailandwithfieldworktocollectsamplesfromwildanimalsandanalyzethevirusesdetected,saidGaoFu,headoftheChineseCenterforDiseaseControlandPrevention."Scientistswillcollectvirussamplesfromanimalssuchasbatsandratsforstudyusingtechniqueslikenextgeneration(DNA)sequencingtofindwhethernewvirusesexist,"hesaid.Theproject,estimatedtocostupto$1.2billion,isexpectedtotake10yearsandinvolvesmanycountriesincludingtheUnitedStates,BrazilandNigeria.Throughmoreintensiveandextensivestudyofvirusesfromanimalsthatcouldinfecthumans,itmaybepossibletodealwithvirusesusingpreemptivecontrolsandpreventioninsteadofpassive,reactivemeasures,Gaosaid."Weallknowtherearealmostcertainlynewvirusesthatcouldcausethenextglobalpandemic,butbasedontheexistingearlywarningcapacityfordiseases,wedonotknow,forexample,whichviruswillcauseanepidemic,"Gaosaid."Wearesurethatnewvirusstrainswillappearinthefuturealongwithchangesinourecology,environmentandhumanbehaviors."Forinstance,humans'abuseofantibioticshasleadtothepotentialdevelopmentofsuperbugs."Therearemanyviruseslivinginwildanimals,sowecanidentifyvirusesandthoroughlystudythosethatcouldpasstohumans,"Gaosaid."Ideallywecandevelopvaccinesandadiagnosisforsuchvirusesevenbeforetheycausehumanepidemics."Itisknownthat263virusescaninfecthumans,butscientistsestimatetheremaybemorethanhalfamillionvirusesthatliveinbirdsandmammalsandthatareunknowntohumansthatmaybecapableofinfectinghumans,andtheyaretheprimarysubjectoftheproject'sresearch,Gaosaid.Evenifalargenumberofsuchunknownvirusesareidentified,itispossiblethatjustasmallfractionofthemhavetheabilitytocausemajorepidemicsthatcausehumandeaths,hesaid.However,consideringthehugecostofamajorepidemiclikeSARStohumanhealthandeconomies,thefindingsoftheprojectstillhavethepotentialtogreatlyreducelossesthroughimprovedearlydiagnosisandidentificationofhostsvulnerabletoanewvirusafteranoutbreak,accordingtoGao.AsimilarprojectcarriedoutbytheUSAgencyforInternationalDevelopmentprovedthefeasibilityoftheGlobalViromeProjectandprovideshelpfulexperience,hesaid.TheUSAIDproject,knownasPredictandlaunchedin2009,withChinaaparticipant,ledtofindingsofmorethan1,000virusespreviouslyunknowntohumans.Theprojectcostwasover$170million,hesaid.SomeofthetechnologiesusedforthatprojecthaveprovedreliableandeconomicallyaffordableandcanbeusedfortheGlobalViromeProject,Gaosaid.  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.GlobaleffortaimstofinddiseasevectorsthatcanjumpfromanimalstohumansChinawillhelpleadaprojecttoidentifyunknownvirusesfromwildlifetobetterpreparehumansformajorepidemics-ifnotglobalpandemics.Theprojectistobelaunchedthisyear,accordingtooneofthecountry'stophealthofficials.TheGlobalViromeProjectwillstartinChinaandThailandwithfieldworktocollectsamplesfromwildanimalsandanalyzethevirusesdetected,saidGaoFu,headoftheChineseCenterforDiseaseControlandPrevention."Scientistswillcollectvirussamplesfromanimalssuchasbatsandratsforstudyusingtechniqueslikenextgeneration(DNA)sequencingtofindwhethernewvirusesexist,"hesaid.Theproject,estimatedtocostupto$1.2billion,isexpectedtotake10yearsandinvolvesmanycountriesincludingtheUnitedStates,BrazilandNigeria.Throughmoreintensiveandextensivestudyofvirusesfromanimalsthatcouldinfecthumans,itmaybepossibletodealwithvirusesusingpreemptivecontrolsandpreventioninsteadofpassive,reactivemeasures,Gaosaid."Weallknowtherearealmostcertainlynewvirusesthatcouldcausethenextglobalpandemic,butbasedontheexistingearlywarningcapacityfordiseases,wedonotknow,forexample,whichviruswillcauseanepidemic,"Gaosaid."Wearesurethatnewvirusstrainswillappearinthefuturealongwithchangesinourecology,environmentandhumanbehaviors."Forinstance,humans'abuseofantibioticshasleadtothepotentialdevelopmentofsuperbugs."Therearemanyviruseslivinginwildanimals,sowecanidentifyvirusesandthoroughlystudythosethatcouldpasstohumans,"Gaosaid."Ideallywecandevelopvaccinesandadiagnosisforsuchvirusesevenbeforetheycausehumanepidemics."Itisknownthat263virusescaninfecthumans,butscientistsestimatetheremaybemorethanhalfamillionvirusesthatliveinbirdsandmammalsandthatareunknowntohumansthatmaybecapableofinfectinghumans,andtheyaretheprimarysubjectoftheproject'sresearch,Gaosaid.Evenifalargenumberofsuchunknownvirusesareidentified,itispossiblethatjustasmallfractionofthemhavetheabilitytocausemajorepidemicsthatcausehumandeaths,hesaid.However,consideringthehugecostofamajorepidemiclikeSARStohumanhealthandeconomies,thefindingsoftheprojectstillhavethepotentialtogreatlyreducelossesthroughimprovedearlydiagnosisandidentificationofhostsvulnerabletoanewvirusafteranoutbreak,accordingtoGao.AsimilarprojectcarriedoutbytheUSAgencyforInternationalDevelopmentprovedthefeasibilityoftheGlobalViromeProjectandprovideshelpfulexperience,hesaid.TheUSAIDproject,knownasPredictandlaunchedin2009,withChinaaparticipant,ledtofindingsofmorethan1,000virusespreviouslyunknowntohumans.Theprojectcostwasover$170million,hesaid.SomeofthetechnologiesusedforthatprojecthaveprovedreliableandeconomicallyaffordableandcanbeusedfortheGlobalViromeProject,Gaosaid.  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  GlobaleffortaimstofinddiseasevectorsthatcanjumpfromanimalstohumansChinawillhelpleadaprojecttoidentifyunknownvirusesfromwildlifetobetterpreparehumansformajorepidemics-ifnotglobalpandemics.Theprojectistobelaunchedthisyear,accordingtooneofthecountry'stophealthofficials.TheGlobalViromeProjectwillstartinChinaandThailandwithfieldworktocollectsamplesfromwildanimalsandanalyzethevirusesdetected,saidGaoFu,headoftheChineseCenterforDiseaseControlandPrevention."Scientistswillcollectvirussamplesfromanimalssuchasbatsandratsforstudyusingtechniqueslikenextgeneration(DNA)sequencingtofindwhethernewvirusesexist,"hesaid.Theproject,estimatedtocostupto$1.2billion,isexpectedtotake10yearsandinvolvesmanycountriesincludingtheUnitedStates,BrazilandNigeria.Throughmoreintensiveandextensivestudyofvirusesfromanimalsthatcouldinfecthumans,itmaybepossibletodealwithvirusesusingpreemptivecontrolsandpreventioninsteadofpassive,reactivemeasures,Gaosaid."Weallknowtherearealmostcertainlynewvirusesthatcouldcausethenextglobalpandemic,butbasedontheexistingearlywarningcapacityfordiseases,wedonotknow,forexample,whichviruswillcauseanepidemic,"Gaosaid."Wearesurethatnewvirusstrainswillappearinthefuturealongwithchangesinourecology,environmentandhumanbehaviors."Forinstance,humans'abuseofantibioticshasleadtothepotentialdevelopmentofsuperbugs."Therearemanyviruseslivinginwildanimals,sowecanidentifyvirusesandthoroughlystudythosethatcouldpasstohumans,"Gaosaid."Ideallywecandevelopvaccinesandadiagnosisforsuchvirusesevenbeforetheycausehumanepidemics."Itisknownthat263virusescaninfecthumans,butscientistsestimatetheremaybemorethanhalfamillionvirusesthatliveinbirdsandmammalsandthatareunknowntohumansthatmaybecapableofinfectinghumans,andtheyaretheprimarysubjectoftheproject'sresearch,Gaosaid.Evenifalargenumberofsuchunknownvirusesareidentified,itispossiblethatjustasmallfractionofthemhavetheabilitytocausemajorepidemicsthatcausehumandeaths,hesaid.However,consideringthehugecostofamajorepidemiclikeSARStohumanhealthandeconomies,thefindingsoftheprojectstillhavethepotentialtogreatlyreducelossesthroughimprovedearlydiagnosisandidentificationofhostsvulnerabletoanewvirusafteranoutbreak,accordingtoGao.AsimilarprojectcarriedoutbytheUSAgencyforInternationalDevelopmentprovedthefeasibilityoftheGlobalViromeProjectandprovideshelpfulexperience,hesaid.TheUSAIDproject,knownasPredictandlaunchedin2009,withChinaaparticipant,ledtofindingsofmorethan1,000virusespreviouslyunknowntohumans.Theprojectcostwasover$170million,hesaid.SomeofthetechnologiesusedforthatprojecthaveprovedreliableandeconomicallyaffordableandcanbeusedfortheGlobalViromeProject,Gaosaid.  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.

  GlobaleffortaimstofinddiseasevectorsthatcanjumpfromanimalstohumansChinawillhelpleadaprojecttoidentifyunknownvirusesfromwildlifetobetterpreparehumansformajorepidemics-ifnotglobalpandemics.Theprojectistobelaunchedthisyear,accordingtooneofthecountry'stophealthofficials.TheGlobalViromeProjectwillstartinChinaandThailandwithfieldworktocollectsamplesfromwildanimalsandanalyzethevirusesdetected,saidGaoFu,headoftheChineseCenterforDiseaseControlandPrevention."Scientistswillcollectvirussamplesfromanimalssuchasbatsandratsforstudyusingtechniqueslikenextgeneration(DNA)sequencingtofindwhethernewvirusesexist,"hesaid.Theproject,estimatedtocostupto$1.2billion,isexpectedtotake10yearsandinvolvesmanycountriesincludingtheUnitedStates,BrazilandNigeria.Throughmoreintensiveandextensivestudyofvirusesfromanimalsthatcouldinfecthumans,itmaybepossibletodealwithvirusesusingpreemptivecontrolsandpreventioninsteadofpassive,reactivemeasures,Gaosaid."Weallknowtherearealmostcertainlynewvirusesthatcouldcausethenextglobalpandemic,butbasedontheexistingearlywarningcapacityfordiseases,wedonotknow,forexample,whichviruswillcauseanepidemic,"Gaosaid."Wearesurethatnewvirusstrainswillappearinthefuturealongwithchangesinourecology,environmentandhumanbehaviors."Forinstance,humans'abuseofantibioticshasleadtothepotentialdevelopmentofsuperbugs."Therearemanyviruseslivinginwildanimals,sowecanidentifyvirusesandthoroughlystudythosethatcouldpasstohumans,"Gaosaid."Ideallywecandevelopvaccinesandadiagnosisforsuchvirusesevenbeforetheycausehumanepidemics."Itisknownthat263virusescaninfecthumans,butscientistsestimatetheremaybemorethanhalfamillionvirusesthatliveinbirdsandmammalsandthatareunknowntohumansthatmaybecapableofinfectinghumans,andtheyaretheprimarysubjectoftheproject'sresearch,Gaosaid.Evenifalargenumberofsuchunknownvirusesareidentified,itispossiblethatjustasmallfractionofthemhavetheabilitytocausemajorepidemicsthatcausehumandeaths,hesaid.However,consideringthehugecostofamajorepidemiclikeSARStohumanhealthandeconomies,thefindingsoftheprojectstillhavethepotentialtogreatlyreducelossesthroughimprovedearlydiagnosisandidentificationofhostsvulnerabletoanewvirusafteranoutbreak,accordingtoGao.AsimilarprojectcarriedoutbytheUSAgencyforInternationalDevelopmentprovedthefeasibilityoftheGlobalViromeProjectandprovideshelpfulexperience,hesaid.TheUSAIDproject,knownasPredictandlaunchedin2009,withChinaaparticipant,ledtofindingsofmorethan1,000virusespreviouslyunknowntohumans.Theprojectcostwasover$170million,hesaid.SomeofthetechnologiesusedforthatprojecthaveprovedreliableandeconomicallyaffordableandcanbeusedfortheGlobalViromeProject,Gaosaid.  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  Technologycompaniesdominatedthisyear'sFortune500listreleasedonMonday,withApple,Amazon,Alphabet,Microsoft,andIBM,amongothers,allinthetop50.Appledroppedfromlastyear'sNo.3tothefourthplacedespitea6percentgaininannualsales,butitledthewayinprofitswithmorethan48billionU.S.dollarsinnetincome,accordingtothelist.Amazoncrackedthetop10forthefirsttime,continuingitsremarkablegrowthrun:Saleshavejumpedsome70billiondollarsintwoyears.Amazon'senormitystemsfromitsroleasthelargestU.S.digitalretailer,thefastest-growingpartofthemarket.Sharesofthecompanyrose0.35percenttotradeat1,579.91dollarsapieceinearlytradingonMonday.Apple,Alphabet,Microsoft,andAmazonwerethetopfourinmarketvalueasofMarch29thisyear,accordingtothelist.TheyarefollowedbyBerkshireHathaway,Facebook,andJPMorganChase.Fortunerankstheworld'stopcompaniesbyrevenueeachyearand2018marksthe64thrunningofthelist.Thisyear'sFortune500companiesrepresenttwo-thirdsoftheU.S.GDPwith12.8trilliondollarsinrevenues,1.0trilliondollarsinprofits,21.6trilliondollarsinmarketvalue,andemploy28.2millionpeopleworldwide.Walmart,ExxonMobil,BerkshireHathaway,Apple,UnitedHealthGroup,McKesson,CVSHealth,Amazon,ATT,andGeneralMotorsmadethetop10thisyear.Amongthem,ExxonMobilandGeneralMotorshavebeenonthelisteveryyearsinceitstartedin1955.  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  Technologycompaniesdominatedthisyear'sFortune500listreleasedonMonday,withApple,Amazon,Alphabet,Microsoft,andIBM,amongothers,allinthetop50.Appledroppedfromlastyear'sNo.3tothefourthplacedespitea6percentgaininannualsales,butitledthewayinprofitswithmorethan48billionU.S.dollarsinnetincome,accordingtothelist.Amazoncrackedthetop10forthefirsttime,continuingitsremarkablegrowthrun:Saleshavejumpedsome70billiondollarsintwoyears.Amazon'senormitystemsfromitsroleasthelargestU.S.digitalretailer,thefastest-growingpartofthemarket.Sharesofthecompanyrose0.35percenttotradeat1,579.91dollarsapieceinearlytradingonMonday.Apple,Alphabet,Microsoft,andAmazonwerethetopfourinmarketvalueasofMarch29thisyear,accordingtothelist.TheyarefollowedbyBerkshireHathaway,Facebook,andJPMorganChase.Fortunerankstheworld'stopcompaniesbyrevenueeachyearand2018marksthe64thrunningofthelist.Thisyear'sFortune500companiesrepresenttwo-thirdsoftheU.S.GDPwith12.8trilliondollarsinrevenues,1.0trilliondollarsinprofits,21.6trilliondollarsinmarketvalue,andemploy28.2millionpeopleworldwide.Walmart,ExxonMobil,BerkshireHathaway,Apple,UnitedHealthGroup,McKesson,CVSHealth,Amazon,ATT,andGeneralMotorsmadethetop10thisyear.Amongthem,ExxonMobilandGeneralMotorshavebeenonthelisteveryyearsinceitstartedin1955.  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.

  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  

  U.S.CommerceSecretaryWilburRossisgoingtovisitChinanextweek,saidU.S.TreasurySecretaryStevenMnuchinonMondayattheWhiteHouse."SecretaryRosshastogooverandturnthatintoasignedpieceofpaperwithcompanies,"Mnuchinsaid,addingthatthisisnotagovernment-to-governmentpurchaseorder,"butwehaveanagreementwiththemastowhatwillbeexecuted."ChinesePresidentXiJinping'sspecialenvoyandVicePremierLiuHejustfinishedhistriptoWashington,DC.HewasthereforChina-U.S.tradetalks,whichhedescribedas"constructive,positiveandfruitful."  Nation'sforeignexchangeholdingsdropby$36.6bfromJanuarytoAprilChina's$3.12trillionforeignexchangereservemayfurtherdeclineunderthepressureofcapitaloutflows,saidexperts,predictingastrongerU.S.dollarsupportedbytheFed'spossibleinterestratehikeinJune.Thenation'sforeignexchangereserves,whichwereusedasacurrencydefensewhentheyuansufferedstrongdepreciationpressuretwoyearsago,hasdropped$36.6billionfromJanuarytoApril,after12monthsofgrowthsinceFebruary2017,accordingtodatafromthecentralbank.DuetothecontinuallystrengtheningU.S.dollar,onMonday,theonshoreChineseyuan'sspotexchangeratehititslowestlevelsinceJan23to6.3888perdollar,andtheoffshoreyuandeclinedby150pointstolowerthan6.38onthesametradingday.The10-yearU.S.Treasuryyields,whichusuallyhaveapositivecorrelationwiththeU.S.dollarandtheFederalfundsrate,exceeded3.1percentlastweek,upfrom2.8percentamonthearlier,thehighestlevelsinceMay2011,whichhassparkedturbulenceinsomeemergingmarketsincludingArgentinaandTurkey.Regionalfinancialvulnerabilityisemergingasthoseemergingeconomiesincreasedinterestratestodealwithsurgingcapitaloutflows,resultingindebtriskexposure.ZhouXiaochuan,formergovernorofthePeople'sBankofChina,thecentralbank,warnedhissuccessorsinaspeechattheweekend"tokeepacloseeyeonwhatwillhappennext"ifthe10-yearU.S.Treasuryyieldscontinuetoriseandthedollar'sstrengthwanes.Heespeciallymentionedthatfinancialvulnerabilitycouldbestimulatedbycapitaloutflowsinemergingeconomies,especiallythosethathavelargedebts."Theinteractiveimpactofsmall-probabilityeventscouldleadtosignificantresults,"hesaid.TheChina-U.S.interestratedifferentialisusuallyseenasoneofthekeyfactorsinfluencingthepaceanddirectionofcross-bordercapitalflows.AhigherU.S.interestratewillattractmorecapitalintoitscapitalmarketseekinghigherinvestmentreturns.Theinterestrategapwasabout90basispointsinAprilwhenChinesecentralbankGovernorYiGangidentifieditwasin"acomfortablerange"forbalancedcapitalflows.Nowthegaphasfallento60basispoints."Ifthereweremajorfundoutflowsandexcessivemarketvolatility,thecentralbankcouldbepressuredtohikelocalinterestratestosupportthecurrencyandavertundermininginvestorconfidence,"saidJonathanCornish,ananalystwiththeglobalcreditratingsagencyFitchRatings.Butanylocalrateincreasecouldpressuretheassetqualityofdomesticenterprisesandincreasefundingcosts,especiallygiventhecurrenthighlevelofprivate-sectorcreditinChina,althoughthePBOChasrespondedtorecentFedhikes,accordingtoCornish,whopredictedtheFed'sfundratetobe2.50percentattheyearendand3.25percentby2019.PedroMartins,chiefemergingmarketsequitystrategistandheadofLatAmEquityResearchwithJPMorgan,predictedthatU.S.policyratesshouldgraduallymoveupwardwithintwoyears,andthecentralbankbalancesheetnormalizationwilllikelyresultinrisinglong-termratesovertimeinemergingmarkets."Thereislimitedroomforfurthersovereignspreadcompressionacrossemergingmarkets,"hesaid."Thedriversbehindemergingmarkets'economicgrowtharegrowinglargeandincludeasolidpickupinglobaltradefuelingmorebenignemergingmarketdynamicsviaasustainedriseinprivatesectorconfidenceandthecreditimpulseturningpositiveforthefirsttimesince2014."  

  JamesBerrylandsacarponBarkleyLake,Kentucky.(PhotoprovidedtoChinaDaily)WhenwemetRonBrooksattheairportinJune,theresearcheroffisheriessaidhecouldn'tretirethisyearbecausegiantAsiancarparethreateningtomaketheGreatLakestheirnewhome.ItwashisfirstvisittoChinaforaclosed-doorconferenceontheAsiancarpproblemco-hostedbytheU.S.embassy'sagriculturaltradeofficeandtheChinaFoodIndustryAssociation,followedbyatightlyscheduledtriptofish-processingfactoriesincoastalWeihaiandNingbo.Thetripcameamidheightenedtradetensionsbetweentheworld'stwoeconomictitans,dimmingtheprospectofaddressingthecarpinfestationintheU.S.Howhasthecarpbecomealocalnuisance"WefirstrealizedtheAsiancarpproblemin2009whenoneofourbiologistsandseveralfishermencaught4,000poundsofAsiancarpasbycatchinKentuckyLake,"Brooks,directoroffisheriesfortheKentuckyDepartmentofFishandWildlife,toldCGTN.TheAsiancarp–comprisingthebighead,black,grass,andsilvercarp–wereintroducedtotheUnitedStatesinthelate1970stotreatalgalbloomsinriversinthecountry’ssouthernstatessuchasArkansasandLouisiana.Thespecieshelpedcontrolweedsandparasitesincatfishponds,butturnedouttobeanunexpectednuisance.Inthe1990s,inclementclimatepatternscoupledwithfloodingresultedinthecarpsescapingintothewild,wheretheyproliferatedalongtheMississippiRiver.Yearslater,theywereabundantinMississippitributaries,allthewayuptoMinnesota.Asiancarparequitereproductive,adaptiveandaggressive."Theyaccountforsome70-80percentofallfishpopulations,"saidYeXiaoyang,founderofTwoRiversFoodbasedinWickliffe,asmallKentuckytownalongtheMississippiRiver.Asiancarpcrowdedoutnativefish,causedimbalancesinaquaculture,andjeopardizedthecountry'sbillion-dollarsportsfishingindustry."TherearesomanyAsiancarpinKentuckyandBarkleylakes.Thatcreatesaproblembecausethosetwolakesarehugefortourism.Rightnow,we'veseenatleasta20-percentdecreaseintourism,"Brooksnoted.Manyfishingtournamentsareheldthroughouttheyearonthetwolakes,bringinghundredsofmillionsofdollarsforlocalgovernmentseveryyear.Fishinglicenseandpermitfeesalsocontributetotherevenuestreamforthisagriculturestate.WithAsiancarpsoutcompetingtheindigenousspeciesfavoredbyAmericansandposingadangerforfishingenthusiastsgiventheirbigsizes,recreationalfishershavebegunshunningthesewaterways."AndtheKentuckystategovernmentisconsideringcancelingthefishingtournaments,"YetoldCGTN.HowdoesthecarptellataleoftwonationsPlacesallovertheU.S.havebeentacklingtheissueofoverabundantAsiancarpfordecades,butthepoliticalandeconomicwilltodosohasbeenlacking.Inthesepastfewyears,however,governmentandcommercialeffortsaretryingtomakeheadway.TheU.S.cityofChicago,forinstance,bordersLakeMichigan,oneofthecountry'sGreatLakes.Authoritiestherearetryingtopreventsuchcarpfromenteringthelakebyblockingthelocalcanalsystem,amovethatisadamantlyopposedbyshippingcompaniesthatusethecanaltobringmaterialsandgoodsthroughtheregion.Besidesdisruptingtransportation,estimatedcostsgoashighas18billionU.S.dollars.Thelocaleffortshavelargelybeeninvain,tillsomeChineseentrepreneursspottedanopportunityintheconundrum.WhileAsiancarparenotwelcomeintheU.S.,theyareaChinesedelicacy."Maybeit'snotabadideathatifwecan'tbeatthem,eatthem,"saidDr.WangChangzheng,whospecializesinnutritionandfoodscienceatKentuckyStateUniversity.Wang,whostartedacoupleofresearchprogramstryingtofigureouthowtobestutilizethefishyearsago,wentalongwithBrookstoChinatoexchangeexperiencesonfishprocessing.OneChineseentrepreneurthey'vebeenworkingwithisAngieYu,whosetupTwoRiversFisheriesinWickliffebackin2012.ThecompanyiscommittedtoAsiancarpharvesting,processingandexporting."SheheardaboutAsiancarp,soshecametoKentuckyandwe'vebeenworkingverycloselywithher,"saidBrooks.AsiancarparenotyetutilizedbyAmericansasmuchasbytheChineseandotherAsianpopulations,sotheycouldbeasourceoffoodforpeopleacrossthePacific.Besides,theChinesebusinessisalsohelpinglocalcommunitiesbyprovidingjobsforpeopletofishandprocess.EspeciallyinwesternKentuckywherefishingcontributed1.2billionU.S.dollarstoitseconomy,peopleneedthejobsoutthere,Brooksnoted.AsforYe,hewenttotheU.S.inthe1990s,movingtoWickliffeandstartingthecarpbusinessthreeyearsago.“I’mplanningtomakedriedandsmokedcarphereandthensellthemtoChina.”Buthe’sbeenhesitantformonths,withthelengthytradewarraisingtariffsonbothhisimportsandexports."Becauseofthetradeconflict,theprocessingequipmentwepurchasefromChinaisfacinga25-percenttariffandthedriedcarpweselltoChinaalsohasa25-percenttaxfromtheprevious15percent,"hetoldCGTNduringhisstayinBeijing.HeintendedtogettheremainingonethirdoftheequipmentbacktohisKentuckyfactorybuthadtoholdoffontheplanbecauseofatariffhike.He'soneoftheChinesebusinesspeoplehesitantoverwhethertomakethisinvestment,eventhoughlocalauthoritieshaveapprovedtheestablishmentoftheU.S.'firstAsiancarpindustrialparkinKentuckythisApril."Thoughtheparkisstillundergoinginfrastructureconstruction,therearealotofuncertaintiesaheadgiventheconstanttariffsbackandforth,"Yesaid.Thepark,oncefinished,willaddresstheAsiancarpprobleminasystematicwayandhasgainedsupportfrombothlocalandfederalgovernments.InFebruary,theU.S.Senateapprovedabillcallingforfederalagenciestocopewiththeinvasivespecies.However,asmostcompaniesdealingwithAsiancarpsareChinese,thetraderow–theworstindecades–isscaringthemaway,reversingthepositivetrend.Whetherbusinesswillgoonasusuallargelydependsontheongoingtradenegotiations.ThisWednesday,China'sViceFinanceMinisterLiaoMinwillconsultwiththeU.S.oneconomicandtradeissuesinWashington.Bothsideswillpavethewayforhigher-levelnegotiationsnextmonth.Theconflictcaughtabreatherlastweek,withU.S.PresidentDonaldTrumpdelayingascheduledroundoftariffsonChineseimportswhileChinahasexemptedimportssuchassoybeansandporkfromtariffs.Asthetwogovernmentsaddresseconomicandtradegrievances,businessesandlocalsonbothsideswaitwithbatedbreath.Technologycompaniesdominatedthisyear'sFortune500listreleasedonMonday,withApple,Amazon,Alphabet,Microsoft,andIBM,amongothers,allinthetop50.Appledroppedfromlastyear'sNo.3tothefourthplacedespitea6percentgaininannualsales,butitledthewayinprofitswithmorethan48billionU.S.dollarsinnetincome,accordingtothelist.Amazoncrackedthetop10forthefirsttime,continuingitsremarkablegrowthrun:Saleshavejumpedsome70billiondollarsintwoyears.Amazon'senormitystemsfromitsroleasthelargestU.S.digitalretailer,thefastest-growingpartofthemarket.Sharesofthecompanyrose0.35percenttotradeat1,579.91dollarsapieceinearlytradingonMonday.Apple,Alphabet,Microsoft,andAmazonwerethetopfourinmarketvalueasofMarch29thisyear,accordingtothelist.TheyarefollowedbyBerkshireHathaway,Facebook,andJPMorganChase.Fortunerankstheworld'stopcompaniesbyrevenueeachyearand2018marksthe64thrunningofthelist.Thisyear'sFortune500companiesrepresenttwo-thirdsoftheU.S.GDPwith12.8trilliondollarsinrevenues,1.0trilliondollarsinprofits,21.6trilliondollarsinmarketvalue,andemploy28.2millionpeopleworldwide.Walmart,ExxonMobil,BerkshireHathaway,Apple,UnitedHealthGroup,McKesson,CVSHealth,Amazon,ATT,andGeneralMotorsmadethetop10thisyear.Amongthem,ExxonMobilandGeneralMotorshavebeenonthelisteveryyearsinceitstartedin1955.  

责编:圣俊远

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