The first factor is the bleaker prospects of the US economy. According to the IMF's latest projections, the US economy is expected to contract by 4.3 percent from last year in 2020. As the virus is yet to be brought under control in the US, concerns over a worsening of the health crisis, as well as expectations of further stimulus, have led to a significant weakening of the dollar in recent months. But depreciation does not mean decline. Any change in the current dominance of the US dollar would likely be a result of more fundamental and structural movements.
From October 16 to 18, 2020, Vice President Du Peng of Renmin University of China (RUC) led a delegation to visit Zhoucun District, Zibo city, Shandong Province. Du Peng was accompanied by Sha Xiangdong, Secretary of the Party Committee of Zhoucun District of Zibo, Liu Wei, governor of Zhoucun District of Zibo, Niu Shengyin, Secretary of the Party Committee of Shandong Vocational College of Light Industry.
We have no enough cooperation among the US, China, Russia, EU, India, Japan, Korea.
A total of 111 youngsters from 32 countries involved in the Belt and Road Initiative won awards for their talent and insights on a wide range of global topics on Saturday.
In recent years, with the intensification of Trump administration's crackdown on China, the pace of Chinese companies going global has been disrupted. On September 20th, 2020, the seminar on "Sino-US Game and Enterprises Going Global" was successfully held, sponsored by Chongyang Institute for Financial Studies, Renmin University of China(RDCY) and organized by China-US People-to-People Exchange Research Center (operated by RDCY).
Since the COVID-19 outbreak, China and the United States have rapidly moved from a trade war to comprehensive frictions in science, technology, economy and politics, and ideological battleground is very fierce.
On Aug. 19, Liu Zhiqin, said in an interview with Shenzhen TV that from the situation in Hong Kong, the United States may impose financial sanctions on some individuals and enterprises, etc., to restrict the receipt and payment of funds through SWIFT, but to kick the whole Hong Kong out of SWIFT completely is very complex and sensitive, almost impossible. Because Hong Kong belongs to the most important re-export trade and international financial center in Asia, the US has huge economic, trade and financial interests in Hong Kong, and excluding Hong Kong from SWIFT will not only affect Chinese institutions and Hong Kong, but also all international institutions in Hong Kong will be seriously affected.